Velocity Financial Inc. (VEL) Misses Q4 EPS by 4c
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Velocity Financial, Inc. Reports Fourth Quarter and Full-Year 2022 Results
March 9, 2023 4:22 PM ESTFourth Quarter Highlights:
Net income of $8.5 million and diluted earnings per share (EPS) of $0.25, compared to $8.4 million and $0.24 per share, respectively, for 4Q21 Core net income(1) of $9.1 million and core diluted EPS(1) of $0.27, compared to $10.1 million and $0.29 per share, respectively, for 4Q21 Loan production volume of $277.8 million in unpaid principal balance (UPB), a decrease of 44.2% from 4Q21 Production in 4Q22 strategically reduced due to volatility in the securitization market Total loan portfolio of $3.5 billion as of December 31, 2022, an increase of 35.8% from December 31,... More