Velocity Financial(VEL) - 2023 Q3 - Earnings Call Transcript

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 ...