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.
Velocity Financial, Inc. (NYSE:VEL) will release its fourth quarter and full year 2020 results on March 16, 2021, after market close. The executive management team will host a conference call and webcast at 2:00 p.m. PT/5:00 p.m. ET on the same day to discuss the financial outcomes. Interested participants can access the live webcast through the Investor Relations section of the company's website. A replay of the call will be available until March 23, 2021, via specified phone lines.
Velocity Financial, Inc. (NYSE: VEL) reported a net income of $3.5 million for Q3 2020, with diluted EPS of $0.11. Core income reached $3.9 million, excluding severance costs. Book value per share increased to $10.44. The company noted strong volumes and demand for financing solutions, adding nearly 400 new broker relationships. Key indicators show a 25% rise in net revenues, driven by improved interest income and lower loan losses. Nonperforming loans slightly decreased to 15.84% of total loans, while operating expenses rose by 9%, reflecting increased loan servicing costs.
Velocity Financial (VEL) announced a business update, revealing a strong recovery in loan production following the COVID-19 pandemic. In September and October 2020, loan applications reached $226 million and $252 million, respectively, matching pre-COVID levels. The company anticipates a pretax income of $4.8 million to $5.1 million for Q3 2020, up from $2.6 million in Q2. The company is also set to complete a securitization of newly originated loans in Q1 2021. A webcast discussing Q3 results will be held on November 11, 2020.