secwatch.observer — SEC 8-K summary
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Issuer:     Velocity Financial, Inc. (VEL)
CIK:        0001692376
Form:       8-K
Filed at:   2023-08-04T23:59:59+00:00
Accession:  0001157523-23-001262
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Velocity Financial Q2 net income $12.2M ($0.36 EPS); loan production down 42% YoY
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- Net income $12.2 million, up 14% YoY; diluted EPS $0.36 vs $0.31 in 2Q22.
- Core net income $12.9 million ($0.38 EPS); loan production $258.6M (down 41.9% YoY).
- Total loan portfolio $3.7B (+20.4% YoY); NPLs 10.0% of HFI loans (up from 8.2%).
- Portfolio NIM 3.24% (down 86 bps YoY); book value $12.57 per share (+11.6% YoY).
- Completed two securitizations in Q2: VCC 2023-2 ($202M) and VCC 2023-1R ($64.8M).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1692376/000115752323001262/0001157523-23-001262-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1692376/000115752323001262/a53506880.htm
  HTML page:      https://secwatch.observer/filing/0001157523-23-001262

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer