Velocity to acquire Toorak's operating platform; $3.2B total transaction value

Velocity Financial, Inc.

Base purchase price ~$62M plus tangible book value for Toorak's platform; total platform+portfolio value ~$3.2B.
Toorak's $3B BPL loan portfolio sold to third-party firm; Velocity to manage it and sell future production.
Expected close Q4 2026; accretive to GAAP earnings in 2027; adds UK presence and RTL/DSCR products.
Toorak CEO John Beacham to become EVP of VCC; Toorak remains as subsidiary under VCC.

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