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Walker & Dunlop Dismisses A Banking Team After Fraud Investigation
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Walker & Dunlop Dismisses A Banking Team After Fraud Investigation
Walker & Dunlop has fired members of its banking staff for not adhering to its loan origination process and failing to catch fraudulent behavior from borrowers. The company made the move after an internal investigation found that roughly $134M in Freddie Mac loans across three portfolios were impacted by some level of fraud. That fraud led the company to record a $29M loss expense, according to Walker & Dunlop's fourth-quarter earnings. The comp…
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