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 announce its Q2 2021 financial results on August 5, 2021, after market close. A conference call will follow at 2:00 p.m. PT, where executive management will discuss these results. Investors can access the call via a live webcast on the company's Investor Relations website. A replay will also be available until August 30, 2021. Based in Westlake Village, California, Velocity specializes in small balance investor loans secured by residential rental and small commercial properties, leveraging a nationwide network of independent mortgage brokers.
Velocity Financial, Inc. (NYSE: VEL) has successfully closed its first securitization transaction of 2021, totaling $265 million in Mortgage-Backed Certificates, series 2021-1. The certificates, backed by recently originated loans, feature a weighted average fixed rate of 1.735%. They have received ratings from KBRA and DBRS Morningstar, with the largest class (A) rated AAA. Executive Vice President Jeff Taylor expressed confidence in the strong market demand, which helped reduce funding costs and improve growth prospects. The certificates are not registered under the Securities Act of 1933.
Velocity Financial, Inc. (NYSE: VEL) announced an upgrade and affirmation of ratings on its 12 securitizations by Kroll Bond Rating Agency (KBRA) following a comprehensive review. KBRA's analysis included current loss expectations and noted low cumulative loss levels between 0.05% and 0.43%, with 7 of the 12 securitizations experiencing no losses since inception. The review considered VCC’s strong collateral performance and resilience against pandemic impacts. Executive Vice President Jeff Taylor emphasized the disciplined underwriting as a key driver behind the favorable ratings.
Velocity Financial, Inc. (NYSE: VEL) reported a net income of $3.40 million for 1Q21, up 32% from $2.58 million in 1Q20. Core income also rose to $6.72 million, despite diluted EPS decreasing to $0.10 from $0.13. The book value per share fell to $11.12 from $12.47 year-over-year. The company noted a 30% growth in production volumes quarter-over-quarter and is optimistic about the economic recovery. However, total loan portfolio decreased by 6% year-over-year to $1.99 billion, driven by nonperforming loans increasing by 122% due to pandemic impacts.
Velocity Financial, Inc. (NYSE:VEL) will release its first quarter 2021 financial results after the market closes on May 6, 2021. The executive management team will host a live conference call at 2:00 PM PT / 5:00 PM ET to discuss the results. The call will be available via webcast on the company's Investor Relations website, with a slide presentation accessible after market close. Investors can participate by phone, with a replay available until May 27, 2021.
Velocity Financial reported a net income of $9.6 million for Q4 2020, a significant increase from $3.5 million in Q3 2020. The diluted earnings per share rose to $0.29, while book value per common share increased to $10.93. The company's total loan portfolio decreased by 2% to $1.93 billion. Despite a rise in nonperforming loans to 17.23%, operating expenses decreased by 9% quarter-over-quarter. Velocity's total net revenues grew by 33%, reflecting strong loan sales and improved interest income. The firm anticipates further growth in originations as it moves into 2021.
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.
