Material Agreement (Form 8-K)

Item 1.01. Entry into a Material Definitive Agreement.

On September 11, 2025, Walker & Dunlop, Inc. (the "Company") and Walker & Dunlop, LLC, the operating subsidiary of the Company (the "Seller"), entered into Amendment No. 8 to Master Repurchase Agreement (the "Amendment") with JPMorgan Chase Bank, N.A. (the "Buyer"). The Amendment amends that certain Master Repurchase Agreement, dated as of August 26, 2019 (as amended by the First Amendment, dated as of August 24, 2020, Amendment No. 2, dated as of August 23, 2021, Amendment No. 3 to Master Repurchase Agreement, dated as of September 30, 2021, Amendment No. 4 to Master Repurchase Agreement, dated as of September 15, 2022, Amendment No. 5 to Master Repurchase Agreement, dated as of December 29, 2022, Amendment No. 6 to Master Repurchase Agreement, dated as of September 12, 2023, and Amendment No. 7 to Master Repurchase Agreement, dated as of September 12, 2024, the "Repurchase Agreement"), by and among the Company, the Seller, and the Buyer to, among other things, extend the Termination Date (as defined in the Repurchase Agreement) to September 10, 2026. The Company continues to guarantee the Seller's obligations under the Repurchase Agreement, as amended by the Amendment.

The Repurchase Agreement is supplemented by a Second Amended and Restated Side Letter (the "Side Letter"), dated as of September 11, 2025, which sets forth certain fees, commitments and pricing information relating to the Repurchase Agreement. The Side Letter amends and restates that certain Amended and Restated Side Letter, dated as of September 30, 2021, as amended by the Amendment No. 1 to Amended and Restated Side Letter, dated as of September 15, 2022, Amendment No. 2 to Amended and Restated Side Letter, dated as of September 12, 2023, Amendment No. 3 to Amended and Restated Side Letter, dated as of September 12, 2024, and Amendment No. 4 to Amended and Restated Side Letter, dated as of August 26, 2025. The Side Letter revises the definition of Facility Amount (as defined in the Side Letter) to reflect a temporary increase up to $1,500,000,000 for the period from September 11, 2025 through November 20, 2025, at which time it will revert to $1,000,000,000, up from $950,000,000. The Side Letter also revises, among other things, the definition of Non-Usage Fee (as defined in the Side Letter) and removes the Upfront Fee (as defined in the Side Letter).

The foregoing description of the Amendment and Side Letter does not purport to be complete and is qualified in its entirety by reference to the Amendment and Side Letter, which are filed as Exhibits 10.1 and 10.2 to this Current Report on Form 8-K.

The Buyer and its affiliates have various relationships with the Company and its affiliates involving the provision of financial services, including another credit facility under which the Company is a borrower and investment banking.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.