Velocity Financial Inc. (VEL) Misses Q1 EPS by 20c

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Go back to Velocity Financial Inc. (VEL) Misses Q1 EPS by 20c

Velocity Financial, Inc. Announces First Quarter 2020 Results

May 13, 2020 8:30 AM EDT

First Quarter Highlights:

Net income of $2.6 million and earnings per share (EPS) of $0.13 Core EPS of $0.29(1) that includes the impact of one-time expense from the paydown of corporate debt in addition to provisioning for COVID-19 impacts Book value growth to $250.4 million at March 31, 2020, from $152.8 million at December 31, 2020 Net loan portfolio interest income of $21.8 million Total loan portfolio of $2.1 billion(2) Completed first securitization of 2020 for $249 million Loan production of $248 million in UPB

 

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)-- Velocity Financial, Inc. (NYSE:... More