Velocity Financial Inc. (VEL) Tops Q2 EPS by 8c
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Velocity Financial, Inc. Reports Second Quarter 2021 Results
August 5, 2021 4:15 PM EDTSecond Quarter Highlights:
Net income of $9.45 million and Core income(1) of $8.45 million; diluted EPS of $0.28 and Core diluted EPS of $0.25 Core diluted EPS(1) increased 24% sequentially to $0.25 per share in 2Q21 from $0.20 in 1Q21 Loan production volume increased 10.07% Q/Q and totaled $256.51 million in unpaid principal balance (UPB), driven by growth in Traditional Commercial and Short-Term products and continued strong demand for Investor 1-4 Rental loans Portfolio net interest margin of 4.83% Book value per common share of $11.62 as of June 30, 2021 Loans held for investment (HFI) UPB of $2.07... More