Velocity Financial Q3 net income $10.0M ($0.29 EPS), loan production up 34% YoY

Velocity Financial, Inc.

2022-Q3 EPS reported $0.70

Net income $10.0M ($0.29 diluted EPS) vs $8.0M ($0.23) in Q3 2021; core net income also $10.0M.
Loan production volume $457.3M UPB (+34.2% YoY); total loan portfolio UPB $3.4B (+51.1% YoY).
Nonaccrual loans improved to 7.4% of HFI loans (from 12.7% YoY); NPL resolutions realized gains of $2.7M.
Portfolio NIM narrowed to 3.59% from 4.97% YoY due to higher debt costs and lower yield.
Completed VCC 2022-4 securitization ($308.4M); liquidity $96M; book value $11.61/share.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Velocity Financial, Inc. reported the quarter ended September 30, 2022 results: net income $10.0 million, EPS $0.29.

Period: the quarter ended September 30, 2022
Net income: $10.0 million
EPS: $0.29
Result: reported results

Exact text from the filing

On November 3, 2022, we issued a press release announcing financial results for the quarter ended September 30, 2022.

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Source: SEC EDGAR

accession 0001157523-22-001527

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