Velocity Financial Inc. (VEL) Tops Q2 EPS by 2c
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Velocity Financial, Inc. Reports Second Quarter 2022 Results
August 4, 2022 4:15 PM EDTSecond Quarter Highlights:
Net income of $10.6 million and diluted earnings per share (EPS) of $0.31, compared to $9.5 million and $0.28 per share, respectively, for 2Q21 Core net income(1) of $10.6 million and core diluted EPS(1) of $0.31, compared to $8.5 million and $0.25 per share, respectively, for 2Q21 Loan production volume of $445.4 million in unpaid principal balance (UPB), an increase of 73.6% from 2Q21 Loan production volume for the first half of 2022 was over $1.0 billion in UPB, more than twice the amount originated over the same period in 2021 Total loan portfolio UPB of $3.1 billion as of June 30,... More