Walker & Dunlop, Inc. filed its Form 10-Q for the quarterly period ended September 30, 2026 with the U.S. Securities and Exchange Commission on November 5, 2026, reporting a net loss attributable to the company of $37,258 thousand for the third quarter.

Key Highlights

  • Q3 2026 net loss: Walker & Dunlop reported a net loss of $37,258 thousand for the three months ended September 30, 2026, compared with net income of $33,452 thousand in Q3 2025.
  • Q3 2026 total revenues: Total revenues were $298,449 thousand for the quarter, down from $337,675 thousand in the prior-year quarter.
  • Indemnified and repurchased loan expenses: This expense line reached $63,072 thousand in Q3 2026, compared with $3,526 thousand in Q3 2025, contributing to total expenses of $345,623 thousand.
  • Nine-month net loss: For the nine months ended September 30, 2026, Walker & Dunlop reported a net loss of $18,381 thousand, versus net income of $70,158 thousand for the same period in 2025.
  • Basic and diluted EPS: Basic and diluted loss per share were each $(1.15) for Q3 2026 and $(0.63) for the nine months ended September 30, 2026.
  • Total assets: Total assets were $4,260,013 thousand as of September 30, 2026, down from $5,059,478 thousand as of December 31, 2025.
  • Shares outstanding: As of October 30, 2026, there were 34,534,009 total shares of common stock outstanding.

Walker & Dunlop Q3 2026 Financial Results: Loss Driven by Elevated Loan Expenses

According to the filing, Walker & Dunlop (NYSE:WD) recorded a loss before taxes of $47,174 thousand for the three months ended September 30, 2026, a significant reversal from income before taxes of $45,937 thousand in Q3 2025. The company reported an income tax benefit of $10,306 thousand in Q3 2026, partially offsetting the pre-tax loss. For the nine months ended September 30, 2026, the loss before taxes was $19,150 thousand, compared with income before taxes of $97,555 thousand in the same prior-year period.

The filing identifies indemnified and repurchased loan expenses, net, as a notable item in both the quarter and the nine-month period. This expense was $63,072 thousand in Q3 2026 versus $3,526 thousand in Q3 2025, and $80,017 thousand for the nine months ended September 30, 2026 versus $5,066 thousand for the same period in 2025. Total expenses for Q3 2026 were $345,623 thousand, exceeding total revenues of $298,449 thousand. Personnel costs were $164,693 thousand for the quarter, down from $177,418 thousand a year earlier.

On the balance sheet, the filing reports that loans held for sale declined to $694,127 thousand as of September 30, 2026, from $1,436,350 thousand at December 31, 2025, with warehouse notes payable declining correspondingly from $1,420,272 thousand to $762,518 thousand. Mortgage servicing rights stood at $775,540 thousand as of September 30, 2026, compared with $808,145 thousand at year-end 2025. The allowance for risk-sharing obligations increased to $63,156 thousand from $37,546 thousand at December 31, 2025. Total stockholders' equity was $1,652,291 thousand as of September 30, 2026, with retained earnings of $1,182,969 thousand.

What Was Disclosed

Walker & Dunlop filed its quarterly report covering the period ended September 30, 2026, disclosing a net loss of $37,258 thousand for Q3 2026 and $18,381 thousand for the nine-month period, with elevated indemnified and repurchased loan expenses as a key expense driver in both periods.