---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-062811"
form_type: "8-K"
ticker: "VEL"
cik: "0001692376"
company_name: "Velocity Financial, Inc."
filed_at: "2024-03-08T23:59:59+00:00"
generated_at: "2026-06-05T00:35:36.466574+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Velocity Financial Q4 net income $17.4M (EPS $0.50), up 105% YoY; FY net income $52.3M

## Summary
- Q4 net income $17.4M, diluted EPS $0.50 vs $0.25 in 4Q22; core net income $16.2M ($0.46 per share).
- Loan production $352.1M UPB in Q4, up 27% YoY; total loan portfolio $4.1B UPB (+16% YoY).
- Portfolio NIM 3.52% in Q4, up 68 bps YoY; weighted average coupon on Q4 production 11.2%.
- NPLs as % of HFI loans 9.7%, down from 10.1% at 3Q23; NPL resolutions $70.9M at 102.2% UPB.
- Raised $75M capital to fuel growth towards $5B loan portfolio target by 2025.

## SEC filing metadata
- accession: 0001193125-24-062811
- form_type: 8-K
- ticker: VEL
- cik: 0001692376
- company_name: Velocity Financial, Inc.
- filed_at: 2024-03-08T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1692376/000119312524062811/0001193125-24-062811-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1692376/000119312524062811/d805226d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-062811
- JSON: https://secwatch.observer/filing/0001193125-24-062811.json
- Plain text: https://secwatch.observer/filing/0001193125-24-062811.txt

## Key facts
- Earnings Releases
  Velocity Financial, Inc. reported the quarter and year ended December 31, 2023 results: net income Net income of $52.3 million, compared to $32.2 million for FY 2022, EPS Diluted earnings per share (EPS) of $1.52 in 2023, compared to $0.94 per share for FY 2022.
  - Period: the quarter and year ended December 31, 2023
  - Net income: Net income of $52.3 million, compared to $32.2 million for FY 2022
  - EPS: Diluted earnings per share (EPS) of $1.52 in 2023, compared to $0.94 per share for FY 2022
  - Result: reported results
  source text: On March 7, 2024, we issued a press release announcing financial results for the quarter and year ended December 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1692376/000119312524062811/0001193125-24-062811-index.htm
- Earnings Releases
  Velocity Financial, Inc. reported the quarter and year ended December 31, 2023 results: net income Net income of $52.3 million, compared to $32.2 million for FY 2022, EPS Diluted earnings per share (EPS) of $1.52 in 2023, compared to $0.94 per share for FY 2022.
  - Period: the quarter and year ended December 31, 2023
  - Net income: Net income of $52.3 million, compared to $32.2 million for FY 2022
  - EPS: Diluted earnings per share (EPS) of $1.52 in 2023, compared to $0.94 per share for FY 2022
  - Result: reported results
  source text: Net income of $52.3 million, compared to $32.2 million for FY 2022. Diluted earnings per share (EPS) of $1.52 in 2023, compared to $0.94 per share for FY 2022
  evidence_url: https://www.sec.gov/Archives/edgar/data/1692376/000119312524062811/0001193125-24-062811-index.htm

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