VEL Velocity Financial Inc

Velocity Commercial Capital Securitization Ratings Affirmed and Upgraded by Kroll Bond Rating Agency

Velocity Financial, Inc. (NYSE: VEL), (“Velocity” or the “Company”), a leader in business purpose loans, today announced that Kroll Bond Rating Agency (“KBRA”) has reviewed the ratings on 19 of the outstanding securitizations issued by its wholly-owned subsidiary, Velocity Commercial Capital, LLC (“VCC”) resulting in 271 rating affirmations and three rating upgrades of the underlying tranches. The rating actions occurred in conjunction with completing KBRA’s comprehensive surveillance review.

KBRA’s rating affirmations reflect continued stable collateral and structure performance, as evidenced by increased credit support for the rated classes and minimal losses since issuance. The rating upgrades considered each bond’s increased credit support relative to KBRA’s updated loss expectations and the generally positive performance trends exhibited by the related underlying pool since issuance. Cumulative loss levels in Velocity’s outstanding securitizations ranged from 0.02% to 0.45%, with 14 of 19 VCC outstanding securitizations experiencing no losses since issuance.

“KBRA’s rating actions reflect the continued strong performance of Velocity’s securitizations,” said Jeff Taylor, Executive Vice President of Capital Markets. “Velocity maintains a strong alignment with investors by retaining credit risk in our securitizations. This strategy has been key to the differentiated performance of our securitizations and drives our unwavering attention to producing high-quality loans and maintaining our best-in-class loss mitigation strategies.”

About Velocity Financial, Inc.

Based in Westlake Village, California, Velocity is a vertically integrated real estate finance company that primarily originates and manages investor loans secured by 1-4 unit residential rental and small commercial properties. Velocity originates loans nationwide across an extensive network of independent mortgage brokers it has built and refined over 20 years. For additional information, please visit the Company’s investor relations website at .

EN
11/06/2024

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Reports on Velocity Financial Inc

 PRESS RELEASE

Velocity Financial, Inc. Reports Second Quarter 2024 Results

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)-- Velocity Financial, Inc. (NYSE: VEL) (Velocity or the Company), a leader in business purpose loans, reported net income of $14.7 million and core net income of $15.9 million for 2Q24, compared to net income of $12.2 million and core net income of $12.9 million for 2Q23. Earnings and core earnings per diluted share were $0.42 and $0.45, respectively, for 2Q24, compared to $0.36 and $0.38 for 2Q23. (1) Core income and Core EPS are non-GAAP measures that exclude nonrecurring and unusual activities from GAAP net income. (2) Liquidity includes...

 PRESS RELEASE

Velocity Financial, Inc. Announces Date of Second Quarter 2024 Financi...

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)-- Velocity Financial, Inc. (NYSE:VEL) (“Velocity” or “Company”), a leader in commercial investor loans, will release its second quarter 2024 results after the market close on Thursday, August 1, 2024. Velocity’s executive management team will host a conference call and webcast to review its financial results at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time on the same day. Webcast Information The conference call will be webcast live in listen-only mode and can be accessed through the Events and Presentations section of the Company’s Investor Rela...

 PRESS RELEASE

Velocity Commercial Capital Securitization Ratings Affirmed and Upgrad...

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)-- Velocity Financial, Inc. (NYSE: VEL), (“Velocity” or the “Company”), a leader in business purpose loans, today announced that Kroll Bond Rating Agency (“KBRA”) has reviewed the ratings on 19 of the outstanding securitizations issued by its wholly-owned subsidiary, Velocity Commercial Capital, LLC (“VCC”) resulting in 271 rating affirmations and three rating upgrades of the underlying tranches. The rating actions occurred in conjunction with completing KBRA’s comprehensive surveillance review. KBRA’s rating affirmations reflect continued stable coll...

 PRESS RELEASE

Velocity Financial, Inc. Reports First Quarter 2024 Results

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)-- Velocity Financial, Inc. (NYSE: VEL) (Velocity or the Company), a leader in business purpose loans, reported net income of $17.3 million and core net income of $18.2 million for 1Q24, compared to net income of $10.6 million and core net income of $11.4 million for 1Q23. Earnings and core earnings per diluted share were $0.49 and $0.51, respectively, for 1Q24, compared to $0.31 and $0.33 for 1Q23. “Velocity began 2024 with another quarter of strong production and loan portfolio growth, resulting in the second highest quarterly net earnings in the Co...

 PRESS RELEASE

Velocity Financial, Inc. Announces Date of First Quarter 2024 Financia...

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)-- Velocity Financial, Inc. (NYSE:VEL) (“Velocity” or “Company”), a leader in commercial investor loans, will release its first quarter 2024 results after the market close on Thursday, May 2, 2024. Velocity’s executive management team will host a conference call and webcast to review its financial results at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time on the same day. Webcast Information The conference call will be webcast live in listen-only mode and can be accessed through the Events and Presentations section of the Company’s Investor Relation...

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