Velocity Financial, Inc. ( (VEL) ) has released its Q1 earnings. Here is a breakdown of the information Velocity Financial, Inc. presented to its investors.
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Velocity Financial, Inc. is a real estate finance company based in Westlake Village, California, specializing in business purpose loans secured by residential rental and small commercial properties across the United States. In its first quarter of 2025, Velocity Financial reported a net income of $18.9 million, marking a 9.5% increase from the previous year, alongside a record loan production volume of $640.4 million. The company’s core net income rose by 11% to $20.3 million, while its diluted earnings per share increased to $0.51. The company also achieved a significant milestone with the completion of the VCC 2025-1 securitization, totaling $342.8 million in securities issued. Despite a slight decrease in the portfolio net interest margin to 3.35%, Velocity Financial maintained strong financial performance, driven by robust loan production and interest income growth. Looking ahead, the company remains optimistic about its growth prospects, anticipating continued strong demand for investor loans and exploring opportunities to expand its lending markets.