Velocity Financial Inc. (VEL) Reports In-Line Q3 EPS

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Go back to Velocity Financial Inc. (VEL) Reports In-Line Q3 EPS

Velocity Financial, Inc. Reports Third Quarter 2023 Results

November 2, 2023 4:15 PM EDT

Third Quarter Highlights:

Net income of $12.1 million, up 21.1% from $10.0 million for 3Q22. Diluted EPS of $0.35, up $0.06 from $0.29 per share for 3Q22 Core net income(1) of $12.9 million, up 29.4% from $10.0 million for 3Q22. Core diluted EPS(1) of $0.37, up $0.08 from $0.29 per share for 3Q22 Loan production of $290.6 million in UPB, a 12.3% increase from 2Q23 and a decrease of 36.5% from 3Q22 October loan production of $130.8 million with an 11.2% weighted average coupon (WAC), our strongest monthly volume level in 12 months Total loan portfolio of $3.9 billion in UPB, an increase of 12.9% from... More