---
schema_version: "secwatch.filing_event.v1"
accession: "0001157523-23-000750"
form_type: "8-K"
ticker: "VEL"
cik: "0001692376"
company_name: "Velocity Financial, Inc."
filed_at: "2023-05-05T23:59:59+00:00"
generated_at: "2026-06-15T17:02:43.546099+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Velocity Financial Q1 net income $10.6M ($0.31 EPS); core EPS $0.33; loan production down 63% YoY

## Summary
- GAAP net income $10.6M ($0.31 diluted EPS) vs $3.1M ($0.09) a year ago; core net income $11.4M ($0.33) vs $12.4M ($0.36).
- Loan production volume $217M UPB, down 62.7% YoY due to strategic slowdown; total loan portfolio $3.6B, up 25% YoY.
- Nonperforming loans as % of HFI improved to 8.7% from 9.8% a year ago; resolutions yielded 103.5% of UPB.
- Completed VCC 2023-1 securitization of $198.7M in Jan; post-quarter issued VCC 2023-1R for $64.8M.
- Book value per share $12.18, up from $10.90; liquidity $45.3M as of March 31, 2023.

## SEC filing metadata
- accession: 0001157523-23-000750
- form_type: 8-K
- ticker: VEL
- cik: 0001692376
- company_name: Velocity Financial, Inc.
- filed_at: 2023-05-05T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1692376/000115752323000750/0001157523-23-000750-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1692376/000115752323000750/a53393960.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001157523-23-000750
- JSON: https://secwatch.observer/filing/0001157523-23-000750.json
- Plain text: https://secwatch.observer/filing/0001157523-23-000750.txt

## Key facts
- Earnings Releases
  Velocity Financial, Inc. reported for the quarter ended March 31, 2023 results: net income $10.6 million, EPS $0.31 per share.
  - Period: for the quarter ended March 31, 2023
  - Net income: $10.6 million
  - EPS: $0.31 per share
  - Result: reported results
  source text: Velocity Financial, Inc. Reports First Quarter 2023 Results First Quarter Highlights: Net income of $10.6 million and diluted earnings per share (EPS) of $0.31
  evidence_url: https://www.sec.gov/Archives/edgar/data/1692376/000115752323000750/0001157523-23-000750-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.