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) is set to release its Q1 2022 financial results on May 5, 2022, after market close. The executive management team will host a conference call at 2:00 p.m. PT to discuss these results. Interested parties can access the live webcast through the Investor Relations section of Velocity's website. A replay of the call will be available until May 31, 2022. Velocity focuses on originating and managing investor loans for residential rental and small commercial properties across the U.S.
Velocity Financial, Inc. (NYSE: VEL) announced the issuance of $215 million in five-year Senior Secured Notes with an interest rate of 7.125%, maturing on March 15, 2027. The notes, which settled on March 15, 2022, aim to refinance existing debt while providing additional capital for new loan investments. CFO Mark R. Szczepaniak highlighted that this transaction reduces interest rates and stabilizes the company’s debt structure. The notes are not registered under the Securities Act, limiting their offer and sale in the U.S.
Velocity Financial, Inc. (NYSE: VEL) reported strong financial performance for 4Q21, with a net income of $8.4 million and diluted EPS of $0.24, reflecting a solid increase compared to 3Q21. The company achieved a record loan production volume of $497.8 million, a 46.1% quarter-over-quarter increase. Core net income rose 25.7% to $10.1 million, driven by growth in the held-for-investment loan portfolio, which increased 10.1% year-over-year to $2.5 billion. However, the portfolio net interest margin decreased to 4.27% from 4.97% in 3Q21, impacted by the collapse of higher-cost securitizations.
Velocity Financial, Inc. (NYSE: VEL) has announced significant preliminary financial and operational updates for Q4 2021. The company expects loan production of approximately $497.8 million, representing a 46% increase from the previous quarter. Projected net income ranges from $8.2 million to $8.6 million, with diluted EPS estimated between $0.24 and $0.25. Total loans held for investment are estimated at $2.5 billion, and nonperforming loans are expected to decline to between 10.3% and 10.8%. Additionally, the company completed two securitizations and acquired a majority stake in Century Health for $12.8 million.
Velocity Financial, Inc. (NYSE: VEL) has successfully acquired a majority stake in Century Health & Housing Capital, enhancing its commercial mortgage product offerings. Century, established in 1992, specializes in government-insured FHA financing for multifamily and senior housing. The acquisition is poised to diversify Velocity's revenue and is immediately accretive to earnings with a minimal impact on tangible book value. This strategic move is expected to leverage Velocity's national footprint for organic growth and enhance fee-based income.
Velocity Financial, Inc. (NYSE: VEL) reported Q3 2021 net income and core income of $8.02 million, a decrease from Q2 2021's $9.45 million. Diluted EPS was $0.23, down from $0.28 in Q2. Loan production surged by 32.81% to $340.66 million, primarily driven by Investor 1-4 Rental loans. Portfolio net interest income rose by 9% to $26.6 million, with a margin of 4.97%. The company issued a $205.18 million securitization and doubled its warehouse financing facility to $200 million. Despite improvements in credit performance, the nonperforming loans remained a concern at 12.7% of loans held for investment.
Velocity Financial, Inc. (NYSE:VEL) is set to announce its third quarter 2021 results on November 3, 2021, after market close. The management will conduct a conference call at 2:00 p.m. PT to discuss the financial results. Investors can access the live webcast through the company's Investor Relations website. A replay will be available until November 30, 2021. Velocity specializes in small balance investor loans and operates nationwide through a network of mortgage brokers.
Velocity Financial, Inc. (NYSE: VEL) has voluntarily converted all 45,000 shares of Series A Convertible Preferred Stock into 11,688,310 shares of common stock. This conversion moves the $90 million liquidation preference value from mezzanine equity to permanent stockholders’ equity. As of June 30, 2021, stockholders’ equity would have increased from $233 million to $323 million had the conversion occurred. CFO Mark Szczepaniak stated that this successful conversion removes uncertainties regarding liquidation preferences and enhances the company's capital structure.
Velocity Financial, Inc. (NYSE: VEL) announced its second securitization of 2021, closing a $205 million issuance of Mortgage-Backed Certificates (series 2021-2), backed by a portfolio of recently originated loans. The certificates, rated by KBRA and DBRS Morningstar, feature a weighted average fixed rate of 1.75%. Velocity's strong market reception for this transaction led to tighter spreads by over 9 basis points compared to its earlier securitization. The company will retain at least 5% of this transaction, reflecting confidence in its loan quality.
Velocity Financial, Inc. (NYSE: VEL) reported a strong financial performance for 2Q21, posting a net income of $9.45 million, a significant increase from $3.40 million in 1Q21. Core income rose to $8.45 million, up from $6.72 million. The diluted earnings per share reached $0.28, compared to $0.10 in the previous quarter. The company’s total loan portfolio grew to $2.07 billion, a 4% increase over the prior quarter. The net interest margin improved to 4.83%. However, the loan loss reserve decreased to $3.96 million, reflecting an optimistic economic outlook.
