Velocity Financial Inc. (VEL) Tops Q1 EPS by 10c

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Go back to Velocity Financial Inc. (VEL) Tops Q1 EPS by 10c

Velocity Financial, Inc. Reports First Quarter 2022 Results

May 5, 2022 4:15 PM EDT

First Quarter Highlights:

Net income of $3.1 million and diluted earnings per share (EPS) of $0.09, down from $8.4 million and $0.24 per share, respectively, for 4Q21 Core net income(1) of $12.4 million and core diluted EPS(1) of $0.36, up from $10.1 million and $0.29 per share, respectively, for 4Q21 Loan production volume of $581.4 million in unpaid principal balance (UPB), a third consecutive quarterly record and an increase of 16.8% from 4Q21 Loans held for investment (HFI) UPB of $2.8 billion as of March 31, 2022, an increase of 12.0% from December 31, 2021 Nonaccrual loans as a percentage of Held for Investment (HFI) loans was... More