Velocity Financial Inc. (VEL) Tops Q3 EPS by 4c
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Velocity Financial, Inc. Reports Third Quarter 2021 Results
November 3, 2021 4:15 PM EDTThird Quarter Highlights:
Net income and Core income(1) of $8.02 million; diluted EPS and Core diluted EPS(1) of $0.23 Loan production volume increased 32.81% quarter-over-quarter and totaled $340.66 million in unpaid principal balance (UPB), driven mainly by growth in demand for Investor 1-4 Rental loans Portfolio net interest income of $26.6 million, an increase of 9.0% from 2Q21 Portfolio net interest margin of 4.97% Book value per common share of $12.05 as of September 30, 2021, an increase from $11.62 per share as of June 30, 2021 Loans held for investment (HFI) UPB of $2.27 billion as of September 30, 2021 Nonaccrual... More