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Walker & Dunlop estimates one-time benefit of $59M from tax reform

Walker & Dunlop Inc. expects a one-time noncash benefit of about $59 million to net income, or $1.83 per share, in the fourth quarter of 2017, due to the revaluation of its net deferred tax liabilities as a result of the U.S. tax reform.

The company estimates its effective corporate tax rate in 2018 to be in the range of 25% to 28%.

"The corporate tax rate due to the Tax Cuts and Jobs Act will have an immediate positive impact on our earnings and cash flow going forward," Walker & Dunlop CFO Steve Theobald said.