Velocity Financial Update on Current Operating Conditions
Velocity Financial, Inc. (VEL)
Company Research
Source: Business Wire
WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Velocity Financial, Inc. (NYSE: VEL), (the “Company”) today provided an update on the current operating environment and operational metrics.Loan origination volume for the two months ended February 29, 2020 totaled $204.5 million in UPB, a 49 percent increase from the same period in 2019. The total loan portfolio totaled $2.11 billion in unpaid principal balance (UPB) on February 29, 2020, up 30 percent from February 28, 2019. Loans held for investment comprised 90 percent of the total loan portfolio on February 29, 2020, with the remainder consisting of short-term held for sale loans.The Company, through its operating subsidiary Velocity Commercial Capital (“VCC”), maintains operating liquidity through three separate Bank warehouse financing facilities totaling $550 million in total capacity. As of March 17, 2020, available capacity on these Bank warehouse facilities totaled $253 million. Recently, one of the Company’s warehouse banks, B
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VEL
News
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VEL
Earnings
- 11/7/24 - In-Line
VEL
Sec Filings
- 11/8/24 - Form 8-K
- 11/8/24 - Form 8-K
- 11/8/24 - Form 10-Q
- VEL's page on the SEC website