Velocity Financial Inc. (VEL) Tops Q4 EPS by 1c
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Velocity Financial, Inc. Reports Fourth Quarter and Full-Year 2021 Results
March 10, 2022 4:15 PM ESTFourth Quarter Highlights:
Net Income of $8.4 million and diluted earnings per share (EPS) of $0.24, an increase from $8.0 million and $0.23 per share, respectively, for 3Q21 Core net income(1) of $10.1 million and core diluted EPS(1) of $0.29, an increase from $8.0 million and $0.23 per share, respectively, for 3Q21 Loan production volume of $497.8 million in unpaid principal balance (UPB), a new quarterly record and an increase of 46.1% from 3Q21 Loans held for investment (HFI) UPB of $2.50 billion as of December 31, 2021, an increase of 10.1% from September 30, 2021 Nonaccrual loans as a percentage of HFI loans was 10.9% as of December 31,... More