Business DiversificationWD's diverse business operations, including debt brokerage, investment sales, and asset management, contribute to over 70% of its cash flow from servicing and associated fees.
Market PositionWD has a strong market position with an 8% market share of multifamily debt originations, ranking #1 with Fannie Mae and #4 with Freddie Mac.
ValuationWD's valuation is considered attractive at 13.3-15.5x 2025-2026E cash earnings, with potential for further improvement if GSE volumes exceed estimates.