Welcome to our dedicated page for Velocity Financial news (Ticker: VEL), a resource for investors and traders seeking the latest updates and insights on Velocity Financial stock.
Velocity Financial, Inc. (VEL) provides specialized financing solutions for residential rental and small commercial properties across key U.S. markets. This page serves as the definitive source for tracking the organization's latest developments, offering investors and stakeholders timely access to official announcements and market insights.
Find curated updates including quarterly earnings disclosures, strategic partnership announcements, regulatory filings, and operational expansions. Our aggregation ensures you stay informed about VEL initiatives impacting real estate finance markets, loan portfolio performance, and risk management practices.
Key areas of focus include updates on investor loan programs, interest rate strategies, and geographic market penetration. The content supports informed decision-making by consolidating press releases, SEC filings, and material event notifications in one authoritative location.
Bookmark this resource for efficient tracking of Velocity Financial's evolving position in property-secured lending. Check regularly for new developments affecting investment strategies and market competitiveness in the real estate finance sector.
Velocity Financial, Inc. (NYSE:VEL) will announce its first quarter 2023 results on May 4, 2023, after market closure. The management team will conduct a conference call and webcast at 2:00 p.m. PT to discuss these financial results. Interested parties can access the live webcast via the Investor Relations website. For those wishing to participate by phone, a dial-in option is available starting 15 minutes prior to the call. An audio replay of the conference call will remain accessible until midnight on May 31, 2023. Velocity specializes in business purpose loans secured by residential and commercial properties, leveraging a 19-year network of independent mortgage brokers to serve clients nationwide.
Velocity Financial reported a net income of $32.2 million for FY 2022, up 10.2% from $29.2 million in 2021. Diluted earnings per share rose to $0.94 from $0.86. Core net income increased 26.7% to $42.2 million, with core diluted EPS at $1.24. Despite a 44.2% drop in loan production volume in Q4 2022, the total loan portfolio grew to $3.5 billion, up 35.8% year-over-year. The net interest margin decreased 19.8% to 3.64%. Although operating expenses rose 68.8% to $20.4 million due to increased compensation costs, liquidity stood at $64.2 million as of December 31, 2022.
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