<?xml version="1.0" encoding="US-ASCII"?>
<!-- RR Donnelley Xcelerate Taxonomy Calculation Linkbase, based on XBRL 2.1  http://www.rrdonnelley.com/ -->
<!-- Version: 6.21.0 -->
<!-- Round: 4 -->
<!-- Creation date: 2014-08-04T16:32:52Z -->
<!-- Copyright (c) 2005-2013 R.R. Donnelley & Sons Company All Rights Reserved. -->
<linkbase xmlns="http://www.xbrl.org/2003/linkbase"
  xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"
  xmlns:xlink="http://www.w3.org/1999/xlink"
  xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#DocumentandEntityInformation" roleURI="http://web.walkerdunlop.com/taxonomy/role/DocumentandEntityInformation"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#Role_StatementOfFinancialPositionUnclassified-RealEstateOperations" roleURI="http://web.walkerdunlop.com/taxonomy/role/StatementOfFinancialPositionUnclassified-RealEstateOperations"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#Role_StatementOfFinancialPositionUnclassified-RealEstateOperationsParen" roleURI="http://web.walkerdunlop.com/taxonomy/role/StatementOfFinancialPositionUnclassified-RealEstateOperationsParenthetical"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#Role_StatementOfIncomeRealEstateExcludingREITs" roleURI="http://web.walkerdunlop.com/taxonomy/role/StatementOfIncomeRealEstateExcludingREITs"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#Role_StatementOfCashFlowsIndirectRealEstate" roleURI="http://web.walkerdunlop.com/taxonomy/role/StatementOfCashFlowsIndirectRealEstate"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#DisclosureOrganizationAndBasisOfPresentationAdditionalInformation" roleURI="http://web.walkerdunlop.com/taxonomy/role/DisclosureOrganizationAndBasisOfPresentationAdditionalInformation"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#DisclosureSummaryOfSignificantAccountingPoliciesAdditionalInformation" roleURI="http://web.walkerdunlop.com/taxonomy/role/DisclosureSummaryOfSignificantAccountingPoliciesAdditionalInformation"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#DisclosureSummaryOfSignificantAccountingPoliciesScheduleOfNetWarehouseInterestIncome" roleURI="http://web.walkerdunlop.com/taxonomy/role/DisclosureSummaryOfSignificantAccountingPoliciesScheduleOfNetWarehouseInterestIncome"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#DisclosureGainsFromMortgageBankingActivitiesScheduleOfGainsFromMortgageBankingActivities" roleURI="http://web.walkerdunlop.com/taxonomy/role/DisclosureGainsFromMortgageBankingActivitiesScheduleOfGainsFromMortgageBankingActivities"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#DisclosureGainsFromMortgageBankingActivitiesAdditionalInformation" roleURI="http://web.walkerdunlop.com/taxonomy/role/DisclosureGainsFromMortgageBankingActivitiesAdditionalInformation"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#DisclosureMortgageServicingRightsAdditionalInformation" roleURI="http://web.walkerdunlop.com/taxonomy/role/DisclosureMortgageServicingRightsAdditionalInformation"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#DisclosureMortgageServicingRightsScheduleOfActivityRelatedToCapitalizedMSRs" roleURI="http://web.walkerdunlop.com/taxonomy/role/DisclosureMortgageServicingRightsScheduleOfActivityRelatedToCapitalizedMSRs"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#DisclosureMortgageServicingRightsSummaryOfComponentsOfNetCarryingValueOfAcquiredAndOriginatedMSRs" roleURI="http://web.walkerdunlop.com/taxonomy/role/DisclosureMortgageServicingRightsSummaryOfComponentsOfNetCarryingValueOfAcquiredAndOriginatedMSRs"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#DisclosureMortgageServicingRightsScheduleOfExpectedAmortizationOfMSRs" roleURI="http://web.walkerdunlop.com/taxonomy/role/DisclosureMortgageServicingRightsScheduleOfExpectedAmortizationOfMSRs"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#DisclosureGuarantyObligationAndAllowanceForRiskSharingObligationsScheduleOfActivityRelatedToGuarantyObligation" roleURI="http://web.walkerdunlop.com/taxonomy/role/DisclosureGuarantyObligationAndAllowanceForRiskSharingObligationsScheduleOfActivityRelatedToGuarantyObligation"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#DisclosureGuarantyObligationAndAllowanceForRiskSharingObligationsAdditionalInformation" roleURI="http://web.walkerdunlop.com/taxonomy/role/DisclosureGuarantyObligationAndAllowanceForRiskSharingObligationsAdditionalInformation"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#DisclosureGuarantyObligationAndAllowanceForRiskSharingObligationsSummaryOfAllowanceForRisksharingObligations" roleURI="http://web.walkerdunlop.com/taxonomy/role/DisclosureGuarantyObligationAndAllowanceForRiskSharingObligationsSummaryOfAllowanceForRisksharingObligations"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#DisclosureServicingAdditionalInformation" roleURI="http://web.walkerdunlop.com/taxonomy/role/DisclosureServicingAdditionalInformation"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#DisclosureWarehouseNotesPayableAdditionalInformation" roleURI="http://web.walkerdunlop.com/taxonomy/role/DisclosureWarehouseNotesPayableAdditionalInformation"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#DisclosureWarehouseNotesPayableScheduleOfDebtObligations" roleURI="http://web.walkerdunlop.com/taxonomy/role/DisclosureWarehouseNotesPayableScheduleOfDebtObligations"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#DisclosureFairValueMeasurementsSummaryOfFinancialAssetsAndFinancialLiabilitiesMeasuredAtFairValueOnARecurringBasis" roleURI="http://web.walkerdunlop.com/taxonomy/role/DisclosureFairValueMeasurementsSummaryOfFinancialAssetsAndFinancialLiabilitiesMeasuredAtFairValueOnARecurringBasis"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#DisclosureFairValueMeasurementsAdditionalInformation" roleURI="http://web.walkerdunlop.com/taxonomy/role/DisclosureFairValueMeasurementsAdditionalInformation"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#DisclosureFairValueMeasurementsScheduleOfRollForwardOfDerivativeInstrumentsWhichRequireValuationsBasedUponSignificantUnobservableInputs" roleURI="http://web.walkerdunlop.com/taxonomy/role/DisclosureFairValueMeasurementsScheduleOfRollForwardOfDerivativeInstrumentsWhichRequireValuationsBasedUponSignificantUnobservableInputs"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#DisclosureFairValueMeasurementsScheduleOfSignificantUnobservableInputsUsedInTheMeasurementOfTheFairValueOfLevel3AssetsAndLiabilities" roleURI="http://web.walkerdunlop.com/taxonomy/role/DisclosureFairValueMeasurementsScheduleOfSignificantUnobservableInputsUsedInTheMeasurementOfTheFairValueOfLevel3AssetsAndLiabilities"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#DisclosureFairValueMeasurementsScheduleOfCarryingAmountsAndTheFairValuesOfTheCompanysFinancialInstruments" roleURI="http://web.walkerdunlop.com/taxonomy/role/DisclosureFairValueMeasurementsScheduleOfCarryingAmountsAndTheFairValuesOfTheCompanysFinancialInstruments"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#DisclosureFairValueMeasurementsScheduleOfFairValueOfDerivativeInstrumentsAndLoansHeldForSale" roleURI="http://web.walkerdunlop.com/taxonomy/role/DisclosureFairValueMeasurementsScheduleOfFairValueOfDerivativeInstrumentsAndLoansHeldForSale"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#DisclosureLitigationCommitmentsAndContingenciesAdditionalInformation" roleURI="http://web.walkerdunlop.com/taxonomy/role/DisclosureLitigationCommitmentsAndContingenciesAdditionalInformation"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#DisclosureEarningsPerShareScheduleOfWeightedAverageSharesAndShareEquivalentsThatAreUsedToCalculateBasicAndDilutedEarningsPerShare" roleURI="http://web.walkerdunlop.com/taxonomy/role/DisclosureEarningsPerShareScheduleOfWeightedAverageSharesAndShareEquivalentsThatAreUsedToCalculateBasicAndDilutedEarningsPerShare"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#DisclosureEarningsPerShareAdditionalInformation" roleURI="http://web.walkerdunlop.com/taxonomy/role/DisclosureEarningsPerShareAdditionalInformation"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#DisclosureStockholdersEquitySummaryOfChangesInStockholdersEquity" roleURI="http://web.walkerdunlop.com/taxonomy/role/DisclosureStockholdersEquitySummaryOfChangesInStockholdersEquity"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#DisclosureStockholdersEquityAdditionalInformation" roleURI="http://web.walkerdunlop.com/taxonomy/role/DisclosureStockholdersEquityAdditionalInformation"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#Role_NotesToFinancialStatementsOrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" roleURI="http://web.walkerdunlop.com/taxonomy/role/NotesToFinancialStatementsOrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#Role_NotesToFinancialStatementsSignificantAccountingPoliciesTextBlock" roleURI="http://web.walkerdunlop.com/taxonomy/role/NotesToFinancialStatementsSignificantAccountingPoliciesTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#Role_NotesToFinancialStatementsSignificantAccountingPoliciesTextBlockPolicies" roleURI="http://web.walkerdunlop.com/taxonomy/role/NotesToFinancialStatementsSignificantAccountingPoliciesTextBlockPolicies"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#Role_NotesToFinancialStatementsSignificantAccountingPoliciesTextBlockTables" roleURI="http://web.walkerdunlop.com/taxonomy/role/NotesToFinancialStatementsSignificantAccountingPoliciesTextBlockTables"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#Role_NotesToFinancialStatementsGainsFromMortgageBankingActivitiesDisclosureTextBlock" roleURI="http://web.walkerdunlop.com/taxonomy/role/NotesToFinancialStatementsGainsFromMortgageBankingActivitiesDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#Role_NotesToFinancialStatementsGainsFromMortgageBankingActivitiesDisclosureTextBlockTables" roleURI="http://web.walkerdunlop.com/taxonomy/role/NotesToFinancialStatementsGainsFromMortgageBankingActivitiesDisclosureTextBlockTables"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#Role_NotesToFinancialStatementsTransfersAndServicingOfFinancialAssetsTextBlock" roleURI="http://web.walkerdunlop.com/taxonomy/role/NotesToFinancialStatementsTransfersAndServicingOfFinancialAssetsTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#Role_NotesToFinancialStatementsTransfersAndServicingOfFinancialAssetsTextBlockTables" roleURI="http://web.walkerdunlop.com/taxonomy/role/NotesToFinancialStatementsTransfersAndServicingOfFinancialAssetsTextBlockTables"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#Role_NotesToFinancialStatementsGuaranteesTextBlock" roleURI="http://web.walkerdunlop.com/taxonomy/role/NotesToFinancialStatementsGuaranteesTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#Role_NotesToFinancialStatementsGuaranteesTextBlockTables" roleURI="http://web.walkerdunlop.com/taxonomy/role/NotesToFinancialStatementsGuaranteesTextBlockTables"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#Role_NotesToFinancialStatementsServicingOfLoansForInstitutionalInvestorsTextBlock" roleURI="http://web.walkerdunlop.com/taxonomy/role/NotesToFinancialStatementsServicingOfLoansForInstitutionalInvestorsTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#Role_NotesToFinancialStatementsDebtDisclosureTextBlock" roleURI="http://web.walkerdunlop.com/taxonomy/role/NotesToFinancialStatementsDebtDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#Role_NotesToFinancialStatementsDebtDisclosureTextBlockTables" roleURI="http://web.walkerdunlop.com/taxonomy/role/NotesToFinancialStatementsDebtDisclosureTextBlockTables"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#Role_NotesToFinancialStatementsDerivativesAndFairValueTextBlock" roleURI="http://web.walkerdunlop.com/taxonomy/role/NotesToFinancialStatementsDerivativesAndFairValueTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#Role_NotesToFinancialStatementsDerivativesAndFairValueTextBlockTables" roleURI="http://web.walkerdunlop.com/taxonomy/role/NotesToFinancialStatementsDerivativesAndFairValueTextBlockTables"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#Role_NotesToFinancialStatementsCommitmentsAndContingenciesDisclosureTextBlock" roleURI="http://web.walkerdunlop.com/taxonomy/role/NotesToFinancialStatementsCommitmentsAndContingenciesDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#Role_NotesToFinancialStatementsEarningsPerShareTextBlock" roleURI="http://web.walkerdunlop.com/taxonomy/role/NotesToFinancialStatementsEarningsPerShareTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#Role_NotesToFinancialStatementsEarningsPerShareTextBlockTables" roleURI="http://web.walkerdunlop.com/taxonomy/role/NotesToFinancialStatementsEarningsPerShareTextBlockTables"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#Role_NotesToFinancialStatementsStockholdersEquityNoteDisclosureTextBlock" roleURI="http://web.walkerdunlop.com/taxonomy/role/NotesToFinancialStatementsStockholdersEquityNoteDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="wd-20140630.xsd#Role_NotesToFinancialStatementsStockholdersEquityNoteDisclosureTextBlockTables" roleURI="http://web.walkerdunlop.com/taxonomy/role/NotesToFinancialStatementsStockholdersEquityNoteDisclosureTextBlockTables"/>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/DocumentandEntityInformation">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/StatementOfFinancialPositionUnclassified-RealEstateOperations">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AccountsPayableAndOtherAccruedLiabilities" xlink:label="us-gaap_AccountsPayableAndOtherAccruedLiabilities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AccountsReceivableNet" xlink:label="us-gaap_AccountsReceivableNet"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AdditionalPaidInCapitalCommonStock" xlink:label="us-gaap_AdditionalPaidInCapitalCommonStock"/>
    <loc xlink:type="locator" xlink:href="wd-20140630.xsd#wd_AllowanceForRiskingSharingObligations" xlink:label="wd_AllowanceForRiskingSharingObligations"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_Assets" xlink:label="us-gaap_Assets"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CommonStockValue" xlink:label="us-gaap_CommonStockValue"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CustomerAdvancesAndDeposits" xlink:label="us-gaap_CustomerAdvancesAndDeposits"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DerivativeAssets" xlink:label="us-gaap_DerivativeAssets"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DerivativeLiabilities" xlink:label="us-gaap_DerivativeLiabilities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_GuaranteeObligationsCurrentCarryingValue" xlink:label="us-gaap_GuaranteeObligationsCurrentCarryingValue"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IntangibleAssetsNetIncludingGoodwill" xlink:label="us-gaap_IntangibleAssetsNetIncludingGoodwill"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_Liabilities" xlink:label="us-gaap_Liabilities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LineOfCredit" xlink:label="us-gaap_LineOfCredit"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LoansAndLeasesReceivableNetReportedAmount" xlink:label="us-gaap_LoansAndLeasesReceivableNetReportedAmount"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LoansReceivableHeldForSaleNet" xlink:label="us-gaap_LoansReceivableHeldForSaleNet"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NotesPayable" xlink:label="us-gaap_NotesPayable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OtherAssets" xlink:label="us-gaap_OtherAssets"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PledgedAssetsSeparatelyReportedSecuritiesPledgedAsCollateralAtFairValue" xlink:label="us-gaap_PledgedAssetsSeparatelyReportedSecuritiesPledgedAsCollateralAtFairValue"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PreferredStockValue" xlink:label="us-gaap_PreferredStockValue"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalents" xlink:label="us-gaap_RestrictedCashAndCashEquivalents"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ServicingAssetAtAmortizedValue" xlink:label="us-gaap_ServicingAssetAtAmortizedValue"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="us-gaap_StockholdersEquity"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Assets" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue" order="1.0100" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Assets" xlink:to="us-gaap_RestrictedCashAndCashEquivalents" order="1.0200" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Assets" xlink:to="us-gaap_PledgedAssetsSeparatelyReportedSecuritiesPledgedAsCollateralAtFairValue" order="1.0300" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Assets" xlink:to="us-gaap_LoansReceivableHeldForSaleNet" order="1.0400" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Assets" xlink:to="us-gaap_LoansAndLeasesReceivableNetReportedAmount" order="1.0500" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Assets" xlink:to="us-gaap_AccountsReceivableNet" order="1.0600" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Assets" xlink:to="us-gaap_DerivativeAssets" order="1.0700" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Assets" xlink:to="us-gaap_ServicingAssetAtAmortizedValue" order="1.0800" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Assets" xlink:to="us-gaap_IntangibleAssetsNetIncludingGoodwill" order="1.0900" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Assets" xlink:to="us-gaap_OtherAssets" order="1.1000" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Liabilities" xlink:to="us-gaap_AccountsPayableAndOtherAccruedLiabilities" order="1.1100" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Liabilities" xlink:to="us-gaap_CustomerAdvancesAndDeposits" order="1.1200" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Liabilities" xlink:to="us-gaap_DerivativeLiabilities" order="1.1300" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Liabilities" xlink:to="us-gaap_GuaranteeObligationsCurrentCarryingValue" order="1.1400" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Liabilities" xlink:to="wd_AllowanceForRiskingSharingObligations" order="1.1500" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Liabilities" xlink:to="us-gaap_LineOfCredit" order="1.1600" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Liabilities" xlink:to="us-gaap_NotesPayable" order="1.1700" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_Liabilities" order="1.1800" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_StockholdersEquity" order="1.2300" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_PreferredStockValue" order="1.1900" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_CommonStockValue" order="1.2000" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_AdditionalPaidInCapitalCommonStock" order="1.2100" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_RetainedEarningsAccumulatedDeficit" order="1.2200" weight="1.00" priority="2" use="optional"/>
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/StatementOfFinancialPositionUnclassified-RealEstateOperationsParenthetical">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/StatementOfIncomeRealEstateExcludingREITs">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DepreciationAndAmortization" xlink:label="us-gaap_DepreciationAndAmortization"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FeesAndCommissionsMortgageBankingAndServicing" xlink:label="us-gaap_FeesAndCommissionsMortgageBankingAndServicing"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="us-gaap_IncomeTaxExpenseBenefit"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_InterestExpenseDebt" xlink:label="us-gaap_InterestExpenseDebt"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_InterestIncomeExpenseNet" xlink:label="us-gaap_InterestIncomeExpenseNet"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LaborAndRelatedExpense" xlink:label="us-gaap_LaborAndRelatedExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="us-gaap_NetIncomeLoss"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OperatingExpenses" xlink:label="us-gaap_OperatingExpenses"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OperatingIncomeLoss" xlink:label="us-gaap_OperatingIncomeLoss"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OtherGeneralExpense" xlink:label="us-gaap_OtherGeneralExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OtherInterestAndDividendIncome" xlink:label="us-gaap_OtherInterestAndDividendIncome"/>
    <loc xlink:type="locator" xlink:href="wd-20140630.xsd#wd_ProvisionForCreditLosses" xlink:label="wd_ProvisionForCreditLosses"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RevenueOtherFinancialServices" xlink:label="us-gaap_RevenueOtherFinancialServices"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_Revenues" xlink:label="us-gaap_Revenues"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ServicingFeesNet" xlink:label="us-gaap_ServicingFeesNet"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_OperatingIncomeLoss" order="1.1300" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_IncomeTaxExpenseBenefit" order="1.1400" weight="-1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_OperatingExpenses" xlink:to="us-gaap_LaborAndRelatedExpense" order="1.0700" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_OperatingExpenses" xlink:to="us-gaap_DepreciationAndAmortization" order="1.0800" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_OperatingExpenses" xlink:to="wd_ProvisionForCreditLosses" order="1.0900" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_OperatingExpenses" xlink:to="us-gaap_InterestExpenseDebt" order="1.1000" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_OperatingExpenses" xlink:to="us-gaap_OtherGeneralExpense" order="1.1100" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_OperatingIncomeLoss" xlink:to="us-gaap_Revenues" order="1.0600" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_OperatingIncomeLoss" xlink:to="us-gaap_OperatingExpenses" order="1.1200" weight="-1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Revenues" xlink:to="us-gaap_FeesAndCommissionsMortgageBankingAndServicing" order="1.0100" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Revenues" xlink:to="us-gaap_ServicingFeesNet" order="1.0200" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Revenues" xlink:to="us-gaap_InterestIncomeExpenseNet" order="1.0300" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Revenues" xlink:to="us-gaap_OtherInterestAndDividendIncome" order="1.0400" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Revenues" xlink:to="us-gaap_RevenueOtherFinancialServices" order="1.0500" weight="1.00" priority="2" use="optional"/>
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/StatementOfCashFlowsIndirectRealEstate">
    <loc xlink:type="locator" xlink:href="wd-20140630.xsd#wd_ChangeInFairValueOfPremiumsAndOriginationFees" xlink:label="wd_ChangeInFairValueOfPremiumsAndOriginationFees"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DepreciationAndAmortization" xlink:label="us-gaap_DepreciationAndAmortization"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities" xlink:label="us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities"/>
    <loc xlink:type="locator" xlink:href="wd-20140630.xsd#wd_GainAttributableToFairValueOfFutureServicingRightsNet" xlink:label="wd_GainAttributableToFairValueOfFutureServicingRightsNet"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NetCashProvidedByUsedInContinuingOperations" xlink:label="us-gaap_NetCashProvidedByUsedInContinuingOperations"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="us-gaap_NetIncomeLoss"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OtherOperatingActivitiesCashFlowStatement" xlink:label="us-gaap_OtherOperatingActivitiesCashFlowStatement"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:label="us-gaap_PaymentsForRepurchaseOfCommonStock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PaymentsToAcquireLoansHeldForInvestment" xlink:label="us-gaap_PaymentsToAcquireLoansHeldForInvestment"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PaymentsToAcquireProductiveAssets" xlink:label="us-gaap_PaymentsToAcquireProductiveAssets"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProceedsFromLongTermLinesOfCredit" xlink:label="us-gaap_ProceedsFromLongTermLinesOfCredit"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment" xlink:label="us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProceedsFromRepaymentsOfLinesOfCredit" xlink:label="us-gaap_ProceedsFromRepaymentsOfLinesOfCredit"/>
    <loc xlink:type="locator" xlink:href="wd-20140630.xsd#wd_ProvisionForCreditLosses" xlink:label="wd_ProvisionForCreditLosses"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RepaymentsOfLongTermLinesOfCredit" xlink:label="us-gaap_RepaymentsOfLongTermLinesOfCredit"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RepaymentsOfNotesPayable" xlink:label="us-gaap_RepaymentsOfNotesPayable"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInContinuingOperations" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations" order="1.0700" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInContinuingOperations" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations" order="1.1100" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInContinuingOperations" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations" order="1.1900" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations" xlink:to="us-gaap_ProceedsFromRepaymentsOfLinesOfCredit" order="1.1200" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations" xlink:to="us-gaap_ProceedsFromLongTermLinesOfCredit" order="1.1300" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations" xlink:to="us-gaap_RepaymentsOfLongTermLinesOfCredit" order="1.1400" weight="-1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations" xlink:to="us-gaap_RepaymentsOfNotesPayable" order="1.1500" weight="-1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations" xlink:to="us-gaap_ProceedsFromIssuanceOfCommonStock" order="1.1600" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations" xlink:to="us-gaap_PaymentsForRepurchaseOfCommonStock" order="1.1700" weight="-1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations" xlink:to="us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities" order="1.1800" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations" xlink:to="us-gaap_PaymentsToAcquireProductiveAssets" order="1.0800" weight="-1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations" xlink:to="us-gaap_PaymentsToAcquireLoansHeldForInvestment" order="1.0900" weight="-1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations" xlink:to="us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment" order="1.1000" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations" xlink:to="us-gaap_NetIncomeLoss" order="1.0100" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations" xlink:to="wd_GainAttributableToFairValueOfFutureServicingRightsNet" order="1.0200" weight="-1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations" xlink:to="wd_ChangeInFairValueOfPremiumsAndOriginationFees" order="1.0300" weight="-1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations" xlink:to="wd_ProvisionForCreditLosses" order="1.0400" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations" xlink:to="us-gaap_DepreciationAndAmortization" order="1.0500" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations" xlink:to="us-gaap_OtherOperatingActivitiesCashFlowStatement" order="1.0600" weight="1.00" priority="2" use="optional"/>
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/DisclosureOrganizationAndBasisOfPresentationAdditionalInformation">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/DisclosureSummaryOfSignificantAccountingPoliciesAdditionalInformation">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/DisclosureSummaryOfSignificantAccountingPoliciesScheduleOfNetWarehouseInterestIncome">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_InterestAndFeeIncomeLoansAndLeases" xlink:label="us-gaap_InterestAndFeeIncomeLoansAndLeases"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_InterestAndFeeIncomeLoansHeldForSaleMortgages" xlink:label="us-gaap_InterestAndFeeIncomeLoansHeldForSaleMortgages"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_InterestExpense" xlink:label="us-gaap_InterestExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_InterestIncomeExpenseNet" xlink:label="us-gaap_InterestIncomeExpenseNet"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_InterestIncomeExpenseNet" xlink:to="us-gaap_InterestAndFeeIncomeLoansHeldForSaleMortgages" order="1.0100" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_InterestIncomeExpenseNet" xlink:to="us-gaap_InterestAndFeeIncomeLoansAndLeases" order="1.0200" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_InterestIncomeExpenseNet" xlink:to="us-gaap_InterestExpense" order="1.0300" weight="-1.00" priority="2" use="optional"/>
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/DisclosureGainsFromMortgageBankingActivitiesScheduleOfGainsFromMortgageBankingActivities">
    <loc xlink:type="locator" xlink:href="wd-20140630.xsd#wd_ContractualLoanOriginationFeesNet" xlink:label="wd_ContractualLoanOriginationFeesNet"/>
    <loc xlink:type="locator" xlink:href="wd-20140630.xsd#wd_FairValueOfExpectedFutureCashFlowsFromServicingRightsRecognizedAtCommitment" xlink:label="wd_FairValueOfExpectedFutureCashFlowsFromServicingRightsRecognizedAtCommitment"/>
    <loc xlink:type="locator" xlink:href="wd-20140630.xsd#wd_FairValueOfExpectedGuaranteeObligation" xlink:label="wd_FairValueOfExpectedGuaranteeObligation"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FeesAndCommissionsMortgageBankingAndServicing" xlink:label="us-gaap_FeesAndCommissionsMortgageBankingAndServicing"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_FeesAndCommissionsMortgageBankingAndServicing" xlink:to="wd_ContractualLoanOriginationFeesNet" order="1.0100" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_FeesAndCommissionsMortgageBankingAndServicing" xlink:to="wd_FairValueOfExpectedFutureCashFlowsFromServicingRightsRecognizedAtCommitment" order="1.0200" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_FeesAndCommissionsMortgageBankingAndServicing" xlink:to="wd_FairValueOfExpectedGuaranteeObligation" order="1.0300" weight="-1.00" priority="2" use="optional"/>
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/DisclosureGainsFromMortgageBankingActivitiesAdditionalInformation">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/DisclosureMortgageServicingRightsAdditionalInformation">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/DisclosureMortgageServicingRightsScheduleOfActivityRelatedToCapitalizedMSRs">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/DisclosureMortgageServicingRightsSummaryOfComponentsOfNetCarryingValueOfAcquiredAndOriginatedMSRs">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsGross" xlink:label="us-gaap_FiniteLivedIntangibleAssetsGross"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsNet" xlink:label="us-gaap_FiniteLivedIntangibleAssetsNet"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_FiniteLivedIntangibleAssetsNet" xlink:to="us-gaap_FiniteLivedIntangibleAssetsGross" order="1.0100" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_FiniteLivedIntangibleAssetsNet" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" order="1.0200" weight="-1.00" priority="2" use="optional"/>
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/DisclosureMortgageServicingRightsScheduleOfExpectedAmortizationOfMSRs">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsNet" xlink:label="us-gaap_FiniteLivedIntangibleAssetsNet"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_FiniteLivedIntangibleAssetsNet" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear" order="1.0100" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_FiniteLivedIntangibleAssetsNet" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" order="1.0200" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_FiniteLivedIntangibleAssetsNet" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" order="1.0300" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_FiniteLivedIntangibleAssetsNet" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" order="1.0400" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_FiniteLivedIntangibleAssetsNet" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" order="1.0500" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_FiniteLivedIntangibleAssetsNet" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive" order="1.0600" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_FiniteLivedIntangibleAssetsNet" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive" order="1.0700" weight="1.00" priority="2" use="optional"/>
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/DisclosureGuarantyObligationAndAllowanceForRiskSharingObligationsScheduleOfActivityRelatedToGuarantyObligation">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/DisclosureGuarantyObligationAndAllowanceForRiskSharingObligationsAdditionalInformation">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/DisclosureGuarantyObligationAndAllowanceForRiskSharingObligationsSummaryOfAllowanceForRisksharingObligations">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/DisclosureServicingAdditionalInformation">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/DisclosureWarehouseNotesPayableAdditionalInformation">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/DisclosureWarehouseNotesPayableScheduleOfDebtObligations">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/DisclosureFairValueMeasurementsSummaryOfFinancialAssetsAndFinancialLiabilitiesMeasuredAtFairValueOnARecurringBasis">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AssetsFairValueDisclosure" xlink:label="us-gaap_AssetsFairValueDisclosure"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DerivativeAssets" xlink:label="us-gaap_DerivativeAssets"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DerivativeLiabilities" xlink:label="us-gaap_DerivativeLiabilities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LiabilitiesFairValueDisclosure" xlink:label="us-gaap_LiabilitiesFairValueDisclosure"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LoansReceivableHeldForSaleNet" xlink:label="us-gaap_LoansReceivableHeldForSaleNet"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PledgedAssetsSeparatelyReportedSecuritiesPledgedAsCollateralAtFairValue" xlink:label="us-gaap_PledgedAssetsSeparatelyReportedSecuritiesPledgedAsCollateralAtFairValue"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsFairValueDisclosure" xlink:to="us-gaap_LoansReceivableHeldForSaleNet" order="1.0100" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsFairValueDisclosure" xlink:to="us-gaap_PledgedAssetsSeparatelyReportedSecuritiesPledgedAsCollateralAtFairValue" order="1.0200" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsFairValueDisclosure" xlink:to="us-gaap_DerivativeAssets" order="1.0300" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_LiabilitiesFairValueDisclosure" xlink:to="us-gaap_DerivativeLiabilities" order="1.0400" weight="1.00" priority="2" use="optional"/>
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/DisclosureFairValueMeasurementsAdditionalInformation">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/DisclosureFairValueMeasurementsScheduleOfRollForwardOfDerivativeInstrumentsWhichRequireValuationsBasedUponSignificantUnobservableInputs">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/DisclosureFairValueMeasurementsScheduleOfSignificantUnobservableInputsUsedInTheMeasurementOfTheFairValueOfLevel3AssetsAndLiabilities">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/DisclosureFairValueMeasurementsScheduleOfCarryingAmountsAndTheFairValuesOfTheCompanysFinancialInstruments">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AssetsFairValueDisclosure" xlink:label="us-gaap_AssetsFairValueDisclosure"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DerivativeAssets" xlink:label="us-gaap_DerivativeAssets"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DerivativeLiabilities" xlink:label="us-gaap_DerivativeLiabilities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LiabilitiesFairValueDisclosure" xlink:label="us-gaap_LiabilitiesFairValueDisclosure"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LineOfCredit" xlink:label="us-gaap_LineOfCredit"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LoansAndLeasesReceivableNetReportedAmount" xlink:label="us-gaap_LoansAndLeasesReceivableNetReportedAmount"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LoansReceivableHeldForSaleNet" xlink:label="us-gaap_LoansReceivableHeldForSaleNet"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NotesPayable" xlink:label="us-gaap_NotesPayable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PledgedAssetsSeparatelyReportedSecuritiesPledgedAsCollateralAtFairValue" xlink:label="us-gaap_PledgedAssetsSeparatelyReportedSecuritiesPledgedAsCollateralAtFairValue"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalents" xlink:label="us-gaap_RestrictedCashAndCashEquivalents"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsFairValueDisclosure" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue" order="1.0100" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsFairValueDisclosure" xlink:to="us-gaap_RestrictedCashAndCashEquivalents" order="1.0200" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsFairValueDisclosure" xlink:to="us-gaap_PledgedAssetsSeparatelyReportedSecuritiesPledgedAsCollateralAtFairValue" order="1.0300" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsFairValueDisclosure" xlink:to="us-gaap_LoansReceivableHeldForSaleNet" order="1.0400" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsFairValueDisclosure" xlink:to="us-gaap_LoansAndLeasesReceivableNetReportedAmount" order="1.0500" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsFairValueDisclosure" xlink:to="us-gaap_DerivativeAssets" order="1.0600" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_LiabilitiesFairValueDisclosure" xlink:to="us-gaap_DerivativeLiabilities" order="1.0700" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_LiabilitiesFairValueDisclosure" xlink:to="us-gaap_LineOfCredit" order="1.0800" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_LiabilitiesFairValueDisclosure" xlink:to="us-gaap_NotesPayable" order="1.0900" weight="1.00" priority="2" use="optional"/>
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/DisclosureFairValueMeasurementsScheduleOfFairValueOfDerivativeInstrumentsAndLoansHeldForSale">
    <loc xlink:type="locator" xlink:href="wd-20140630.xsd#wd_AggregateFairValueAdjustments" xlink:label="wd_AggregateFairValueAdjustments"/>
    <loc xlink:type="locator" xlink:href="wd-20140630.xsd#wd_FairValueAdjustmentAssumedGainOnSale" xlink:label="wd_FairValueAdjustmentAssumedGainOnSale"/>
    <loc xlink:type="locator" xlink:href="wd-20140630.xsd#wd_FairValueAdjustmentInterestRateMovementEffect" xlink:label="wd_FairValueAdjustmentInterestRateMovementEffect"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="wd_AggregateFairValueAdjustments" xlink:to="wd_FairValueAdjustmentAssumedGainOnSale" order="1.0100" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="wd_AggregateFairValueAdjustments" xlink:to="wd_FairValueAdjustmentInterestRateMovementEffect" order="1.0200" weight="1.00" priority="2" use="optional"/>
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/DisclosureLitigationCommitmentsAndContingenciesAdditionalInformation">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/DisclosureEarningsPerShareScheduleOfWeightedAverageSharesAndShareEquivalentsThatAreUsedToCalculateBasicAndDilutedEarningsPerShare">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xlink:label="us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:to="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" order="1.0100" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:to="us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" order="1.0200" weight="1.00" priority="2" use="optional"/>
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/DisclosureEarningsPerShareAdditionalInformation">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/DisclosureStockholdersEquitySummaryOfChangesInStockholdersEquity">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/DisclosureStockholdersEquityAdditionalInformation">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/NotesToFinancialStatementsOrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/NotesToFinancialStatementsSignificantAccountingPoliciesTextBlock">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/NotesToFinancialStatementsSignificantAccountingPoliciesTextBlockPolicies">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/NotesToFinancialStatementsSignificantAccountingPoliciesTextBlockTables">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/NotesToFinancialStatementsGainsFromMortgageBankingActivitiesDisclosureTextBlock">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/NotesToFinancialStatementsGainsFromMortgageBankingActivitiesDisclosureTextBlockTables">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/NotesToFinancialStatementsTransfersAndServicingOfFinancialAssetsTextBlock">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/NotesToFinancialStatementsTransfersAndServicingOfFinancialAssetsTextBlockTables">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/NotesToFinancialStatementsGuaranteesTextBlock">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/NotesToFinancialStatementsGuaranteesTextBlockTables">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/NotesToFinancialStatementsServicingOfLoansForInstitutionalInvestorsTextBlock">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/NotesToFinancialStatementsDebtDisclosureTextBlock">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/NotesToFinancialStatementsDebtDisclosureTextBlockTables">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/NotesToFinancialStatementsDerivativesAndFairValueTextBlock">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/NotesToFinancialStatementsDerivativesAndFairValueTextBlockTables">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/NotesToFinancialStatementsCommitmentsAndContingenciesDisclosureTextBlock">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/NotesToFinancialStatementsEarningsPerShareTextBlock">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/NotesToFinancialStatementsEarningsPerShareTextBlockTables">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/NotesToFinancialStatementsStockholdersEquityNoteDisclosureTextBlock">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://web.walkerdunlop.com/taxonomy/role/NotesToFinancialStatementsStockholdersEquityNoteDisclosureTextBlockTables">
  </calculationLink>
</linkbase>


