Q1 net income rises 9.5% YoY to $18.9M; record loan production $640.4M

Velocity Financial, Inc.

2025-Q1 EPS reported $0.51

Diluted EPS $0.51 ($0.55 core), up from $0.49 ($0.51 core) in 1Q24.
Record loan production of $640.4M UPB, up 69.1% YoY.
Portfolio NIM 3.35%, flat YoY; NPL ratio 10.8% vs 10.1% a year ago.
GAAP book value per share $16.19, up 15.6% from $14.01 in 1Q24.
Completed VCC 2025-1 securitization ($342.8M) and collapsed VCC 2023-1R, releasing $52.6M.

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