---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-130708"
form_type: "8-K"
ticker: "VEL"
cik: "0001692376"
company_name: "Velocity Financial, Inc."
filed_at: "2024-05-03T23:59:59+00:00"
generated_at: "2026-06-02T23:12:49.369352+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Velocity Financial Q1 net income $17.3M, up 62% YoY; EPS $0.49

## Summary
- Net income $17.3M ($0.49 diluted EPS) vs $10.6M ($0.31) in 1Q23; core net income $18.2M ($0.51).
- Loan production $378.7M UPB, up 7.5% Q/Q and 74.5% YoY; April production $129M at 11.0% WAC.
- Nonperforming loans 10.1% of HFI (up from 9.7% Dec 2023); NPL resolutions $54.5M at 102.3%.
- Completed $209.9M VCC 2024-1 securitization and issued $75M senior secured notes; book value $14.01.

## SEC filing metadata
- accession: 0001193125-24-130708
- form_type: 8-K
- ticker: VEL
- cik: 0001692376
- company_name: Velocity Financial, Inc.
- filed_at: 2024-05-03T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1692376/000119312524130708/0001193125-24-130708-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1692376/000119312524130708/d828628d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-130708
- JSON: https://secwatch.observer/filing/0001193125-24-130708.json
- Plain text: https://secwatch.observer/filing/0001193125-24-130708.txt

## Key facts
- Earnings Releases
  Velocity Financial, Inc. reported the quarter ended March 31, 2024 results: net income $17.3 million, EPS $0.49.
  - Period: the quarter ended March 31, 2024
  - Net income: $17.3 million
  - EPS: $0.49
  - Result: reported results
  source text: Net income of $17.3 million, up 62.0% from $10.6 million for 1Q23. Diluted EPS of $0.49, up $0.18 from $0.31 per share for 1Q23
  evidence_url: https://www.sec.gov/Archives/edgar/data/1692376/000119312524130708/0001193125-24-130708-index.htm

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