---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-111126"
form_type: "8-K"
ticker: "VEL"
cik: "0001692376"
company_name: "Velocity Financial, Inc."
filed_at: "2025-05-02T23:59:59+00:00"
generated_at: "2026-05-22T22:54:54.906834+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-25-111126
- form_type: 8-K
- ticker: VEL
- cik: 0001692376
- company_name: Velocity Financial, Inc.
- filed_at: 2025-05-02T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- 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/1692376/000119312525111126/0001193125-25-111126-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1692376/000119312525111126/d939111d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-111126
- JSON: https://secwatch.observer/filing/0001193125-25-111126.json
- Plain text: https://secwatch.observer/filing/0001193125-25-111126.txt

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