Velocity Financial (VEL) came out with quarterly earnings of $0.45 per share, beating the Zacks Consensus Estimate of $0.43 per share. This compares to earnings of $0.38 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 4.65%. A quarter ago, it was expected that this company would post earnings of $0.40 per share when it actually produced earnings of $0.51, delivering a surprise of 27.50%. Over the last four quarters, the compa ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 Common stock, par value $0.01 per share VEL The New York Stock Exchange FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to _____ Commission File Number: 001-39183 | --- | --- | |------------------------ ...

Exhibit 99 Investors and Media: Chris Oltmann (818) 532-3708 Velocity Financial, Inc. Reports First Quarter 2024 Results First Quarter Highlights: • Net income of $17.3 million, up 62.0% from $10.6 million for 1Q23. Diluted EPS of $0.49, up $0.18 from $0.31 per share for 1Q23 • Core net income(1) of $18.2 million, an increase of 60.4% from $11.4 million for 1Q23. Core diluted EPS(1) of $0.51, up from $0.33 per share for 1Q23 • Loan production of $378.7 million in UPB, a 7.5% increase from 4Q23 and 74.5% fro ...

Velocity Financial, Inc. (NYSE:VEL) Q1 2024 Earnings Conference Call May 2, 2024 5:00 PM ET Operator I would like to remind everyone that today's call may include forward-looking statements, which are uncertain and outside of the company's control and actual results may differ materially. For a discussion of some of the risks and other factors that could affect results, please see the risk factors and other cautionary statements made in our communications with shareholders including the risk factors disclos ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to _____ Commission File Number: 001-39183 Velocity Financial, Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 46-0659719 (State or ...

Production Volume Continues Strong Growth Trend $116.3 $163.1 $154.3 $183.2 $167.1 $79.7 $73.5 $97.5 $130.3 $166.6 $20.9 $22.1 $38.8 $38.6 $45.0 $217.0 $258.6 $290.6 $352.1 $378.7 1Q23 2Q23 3Q23 4Q23 1Q24 Investor 1-4 Rental Traditional Commercial Short-term Loan Products ($ of UPB in millions) Loan Portfolio $265.0 $276.3 $390.8 1Q23 4Q23 1Q24 Investor 1-4 Rental Mixed Use Multifamily – Driven by growth in loans collateralized by Inv. 1-4 Rental and "Other" Commercial properties | --- | --- | --- | --- | | ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____to _____ Commission File: 001-39183 Velocity Financial, Inc. (Exact Name of Registrant as Specified in Its Charter) | Delaware | 46-0659719 | | --- | --- | | ...

Conference Call Participants Operator I would now like to turn the conference over to Chris Oltmann. Please go ahead. Our next question comes from Don Fandetti with Wells Fargo. Operator Many of our comparable sets and peers that we get compared to carry their assets at fair value. As you folks know, we made the election in Q4 of last year to move to fair value accounting, so we wanted to show everyone that we believe the true value that we've created is actually much higher than the GAAP book value. And so ...

Exhibit 99 Investors and Media: Chris Oltmann (818) 532-3708 Velocity Financial, Inc. Reports Fourth Quarter and Full-Year 2023 Results Fourth Quarter Highlights: Full-Year 2023 Highlights: • Net income of $17.4 million, up 105.1% from $8.5 million for 4Q22. Diluted EPS of $0.50, up $0.25 from $0.25 per share for 4Q22 • Core net income (1) of $16.2 million, up 77.2% from $9.1 million for 4Q22. Core diluted EPS(1) of $0.46, up $0.19 from $0.27 per share for 4Q22 • Loan production of $352.1 million in UPB, a ...

And while our loan portfolio is growing, our loan-to-value ratio remains consistent on the overall portfolio at 68% and 2023 production, the LTV has actually averaged a little lower at 66%. In August of the quarter, we issued the 2023-3 security, collateralized by our long-term loan product, almost $235 million in securities issued. And as Chris mentioned, in tandem with this long-term security, we collapsed one of our older securities, 2016-1, that was an older, higher-cost debt. Stephen Laws What it helps ...