VELOCITY FINANCIAL INC. overview

Velocity Financial, Inc. (NYSE: VEL) (Velocity or the Company), a leader in business purpose loans, reported net income of $12.2 million and core net income of $12.9 million for 2Q23, compared to net income of $10.6 million and core net income of $10.6 million in 2Q22. Earnings and core earnings per diluted share were $0.36 and $0.38, respectively, for 2Q23, compared to $0.31 and $0.31, for 2Q22. “Velocity once again delivered strong quarterly earnings driven by 20% year-over-year portfolio...

Velocity Financial, Inc. (NYSE:VEL) (“Velocity” or “Company”), a leader in business purpose loans, will release its second quarter 2023 results after the market close on Thursday, August 3, 2023. Velocity’s executive management team will host a conference call and webcast to review its financial results at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time on the same day. Webcast Information The conference call will be webcast live in listen-only mode and can be accessed through the...

Velocity Financial, Inc. (NYSE: VEL), (“Velocity” or the “Company”), a leader in business purpose loans, today announced that Kroll Bond Rating Agency (“KBRA”) has upgraded and affirmed the ratings on the 16 outstanding securitizations issued by its wholly-owned subsidiary, Velocity Commercial Capital, LLC (“VCC”). The rating actions occurred in conjunction with the completion of KBRA’s comprehensive surveillance review. KBRA’s ratings affirmations reflect stable collateral...

Velocity Financial, Inc. (NYSE: VEL) (Velocity or the Company), a leader in business purpose loans, reported net income of $10.6 million and core net income of $11.4 million for 1Q23, compared to net income of $3.1 million and core net income of $12.4 million in 1Q22. Earnings and core earnings per diluted share were $0.31 and $0.33, respectively, for 1Q23, compared to $0.09 and $0.36, for 1Q22. “Velocity’s first quarter results demonstrate the resiliency of our business model and our...

Velocity Financial, Inc. (NYSE:VEL) (“Velocity” or “Company”), a leader in business purpose loans, will release its first quarter 2023 results after the market close on Thursday, May 4, 2023. Velocity’s executive management team will host a conference call and webcast to review its financial results at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time on the same day. Webcast Information The conference call will be webcast live in listen-only mode and can be accessed through the Events...

Velocity Financial, Inc. (NYSE: VEL) (Velocity or the Company) reported net income of $32.2 million and core net income of $42.2 million for the full-year 2022, compared to net income of $29.2 million and core net income of $33.3 million in 2021. Earnings and core earnings per diluted share were $0.94 and $1.24, respectively, for the full-year 2022, compared to $0.86 and $0.98, respectively, for the full-year 2021. “2022 was an exceptional year for Velocity,” said Chris Farrar, President and...

Velocity Financial, Inc. (NYSE:VEL) (“Velocity” or “Company”), a leader in commercial investor loans, will release its fourth quarter and full-year 2022 results after the market close on Thursday, March 9, 2023. Velocity’s executive management team will host a conference call and webcast to review its financial results at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time on the same day. Webcast Information The conference call will be webcast live in listen-only mode and can be accessed...

Velocity Financial, Inc. (NYSE: VEL) (Velocity or the Company) reported net income and core net income of $10.0 million for 3Q22, compared to net income and core net income of $8.0 million for 3Q21. Earnings and core earnings per diluted share were $0.29 for 3Q22, compared to $0.23 for 3Q21. “Velocity delivered strong earnings in the third quarter, over 30% year-over-year production growth, further improvement in our loan portfolio’s performance, and continued book value growth,” said...