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. (NYSE: VEL) is a U.S. real estate finance company focused on business purpose and investor real estate loans, and its news flow centers on loan production, portfolio performance, securitizations and capital markets activity. The company describes itself as a leader in investor real estate loans and business purpose loans, with a portfolio secured by investor 1–4 family rental properties and a range of commercial property types.
News updates for Velocity commonly include quarterly and annual earnings releases that detail net income, core net income, diluted and core diluted earnings per share, portfolio net interest margin and net revenue. These releases also provide insight into record loan production volumes, growth in the total loan portfolio, and trends in nonperforming loans and real estate owned resolutions, including realization rates on resolved nonperforming assets.
Investors following VEL news will see regular disclosures on securitization activity, such as the completion of new securitizations, the collapse and refinancing of existing securitizations, and liquidity and warehouse line capacity metrics. Announcements can also cover equity capital actions, including issuance of common shares through an at-the-market offering program, and developments like a dual listing of the company’s common stock on NYSE Texas, Inc. alongside its primary New York Stock Exchange listing.
Other notable news items include rating agency reviews of securitizations issued by Velocity’s subsidiary, with rating affirmations and upgrades based on collateral and structure performance, and transactions such as the sale of nonperforming loans combined with third-party servicing mandates. For investors and analysts tracking VEL, this news page offers a centralized view of the company’s operating trends, credit performance, funding strategy and corporate milestones over time.
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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.
Velocity Financial, Inc. (NYSE:VEL) will announce its fourth quarter and full-year 2022 results on March 9, 2023, after market close. The executive management team will lead a conference call at 2:00 p.m. PT / 5:00 p.m. ET to discuss the results. Investors can access the call via a live webcast on Velocity's Investor Relations website. A replay will be available until March 31, 2023. Velocity specializes in originating and managing investor loans primarily secured by residential rental and small commercial properties, leveraging a vast network of independent mortgage brokers nationwide.
Velocity Financial, Inc. (NYSE: VEL) reported strong financial results for the third quarter of 2022, with net income of $10.0 million and diluted earnings per share of $0.29, up from $8.0 million and $0.23 per share in the same period last year. The company's loan production volume reached $457.3 million, marking a 34.2% increase year-over-year. Nonaccrual loans decreased to 7.4% of the Held for Investment loans. However, the net interest margin declined to 3.59% from 4.97% in 3Q21. Liquidity stood at $96 million, with a book value per common share of $11.61.
Velocity Financial, Inc. (NYSE:VEL) will report its third quarter 2022 financial results on November 3, 2022, after market close. The management team will hold a conference call at 2:00 p.m. PT / 5:00 p.m. ET to discuss the results. The call will be accessible via webcast on their Investor Relations website. Investors can also participate by phone, with call-in details provided. An audio replay will be available until November 30, 2022. Velocity specializes in real estate finance, focusing on investor loans secured by residential rental and small commercial properties.
Velocity Financial reported strong second-quarter results, with net income of $10.6 million and diluted EPS of $0.31, up from $9.5 million or $0.28 in 2Q21. Core net income also increased by 25.9% year-over-year. Notably, loan production rose 73.6% to $445.4 million. The total loan portfolio reached $3.1 billion, a 49.3% increase from the previous year. Despite these positives, the net interest margin fell to 4.10%, down from 4.83% in 2Q21 due to lower interest rates.
Velocity Financial, Inc. (NYSE:VEL) will announce its second quarter 2022 financial results on August 4, 2022, after the market closes. The company's management will host a conference call at 3:00 p.m. PT / 6:00 p.m. ET to discuss these results. The call will be accessible via a live webcast on their Investor Relations website, and an audio replay will be available after the call. Based in Westlake Village, California, Velocity specializes in investor loans secured by residential and small commercial properties.
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