Velocity Financial (VEL) Company Report

Velocity Financial, Inc. (VEL) announced the closing of an offering of $500 million aggregate principal amount of 9.375% Senior Notes due 2031 by its wholly-owned subsidiary, Velocity Commercial Capital, LLC, on January 30, 2026.
The Notes bear an interest rate of 9.375% per annum, with interest payable semi-annually commencing August 15, 2026, and will mature on February 15, 2031.
The net proceeds from the offering were approximately $487 million.
Approximately $222.7 million of the net proceeds will be used to redeem the Issuer's outstanding 7.125% Senior Secured Notes due 2027.
The remaining net proceeds are intended for general corporate purposes, including repaying existing borrowings and potentially up to $75 million for a business acquisition.

7 days ago

8-K

Velocity Financial Closes $500 Million Senior Notes Offering

VEL

Debt Issuance

New Projects/Investments

Velocity Financial, Inc. has closed an offering of $500 million aggregate principal amount of 9.375% Senior Notes due 2031, with interest payable semi-annually and maturity on February 15, 2031.
The offering generated approximately $487 million in net proceeds.
The company intends to use approximately $222.7 million of these proceeds to redeem its outstanding 7.125% Senior Secured Notes due 2027.
The remaining funds are allocated for general corporate purposes, which may include repaying existing borrowings and potentially up to $75 million for a business acquisition.

7 days ago

Press Release

Velocity Financial, Inc. Prices $500 Million Senior Notes

VEL

Debt Issuance

New Projects/Investments

Velocity Financial, Inc. (VEL) announced the pricing of $500 million aggregate principal amount of 9.375% Senior Notes due 2031 by its wholly-owned subsidiary, Velocity Commercial Capital, LLC.
The Notes, priced at 100% of the principal, will mature on February 15, 2031, with interest payable semi-annually starting August 15, 2026.
The issuance is expected to close on January 30, 2026, with estimated net proceeds of approximately $487 million.
Approximately $222.7 million of the net proceeds will be used to fund the redemption of the Issuer's outstanding 7.125% Senior Secured Notes due 2027.
The remaining proceeds are intended for general corporate purposes, which may include repaying borrowings and using up to $75 million for a potential business acquisition.

Jan 29, 2026, 11:01 AM

8-K

Velocity Financial Prices $500 Million Senior Notes Due 2031

VEL

Debt Issuance

New Projects/Investments

Velocity Financial, Inc. priced $500 million aggregate principal amount of 9.375% Senior Notes due 2031, with the issuance and sale expected to close on January 30, 2026.
The Notes will bear interest at 9.375% per year, payable semi-annually starting August 15, 2026, and will mature on February 15, 2031.
The estimated net proceeds are approximately $487 million, of which $222.7 million will be used to redeem the Issuer’s outstanding 7.125% Senior Secured Notes due 2027.
The remaining net proceeds are intended for general corporate purposes, including potential repayment of warehouse repurchase and revolving loan facilities, and up to $75 million for a possible business acquisition.

Jan 28, 2026, 9:29 PM

Press Release

Velocity Financial, Inc. Announces Preliminary Q4 and Full-Year 2025 Results and Proposed Senior Notes Offering

VEL

Earnings

Debt Issuance

Guidance Update

Velocity Financial, Inc. announced preliminary unaudited Q4 2025 net income of at least $35 million and GAAP earnings per diluted common share of at least $0.90, representing increases of at least 70% and 56% respectively compared to Q4 2024.
For the full year 2025, preliminary unaudited results include net income of at least $105.0 million and GAAP earnings per diluted common share of at least $2.75, marking increases of at least 53% and 35% respectively over 2024.
Total loan originations for full-year 2025 are estimated at approximately $2,716 million, an increase of at least 48% from 2024, and nonperforming loans are projected to be between 8.5% and 8.6% of total loan UPB as of December 31, 2025, down from 10.7% as of December 31, 2024.
Velocity Commercial Capital, LLC, a subsidiary, plans to offer up to $500 million in Senior Notes due 2031, with proceeds primarily used to redeem $222.7 million of outstanding 7.125% Senior Secured Notes due 2027 and for general corporate purposes.

Jan 26, 2026, 1:34 PM

8-K

Velocity Financial Announces Proposed Offering of Senior Notes

VEL

Debt Issuance

New Projects/Investments

Velocity Financial, Inc.'s wholly-owned subsidiary, Velocity Commercial Capital, LLC, plans to offer up to $500 million aggregate principal amount of Senior Notes due 2031.
The offering will be sold to qualified institutional buyers and certain persons outside the United States, exempt from registration.
The net proceeds will be used to fund the redemption of approximately $222.7 million of outstanding 7.125% Senior Secured Notes due 2027, with the remainder for general corporate purposes, including potential repayment of existing borrowings and up to $75 million for a potential business acquisition.

Jan 26, 2026, 1:31 PM

Press Release

Velocity Financial Announces Preliminary Q4 and Full-Year 2025 Results

VEL

Earnings

Guidance Update

Revenue Acceleration/Inflection

Velocity Financial, Inc. announced preliminary unaudited results for Q4 2025, including net income of at least $35 million and GAAP earnings per diluted common share of at least $0.90.
For the full-year 2025, preliminary results indicate net income of at least $105.0 million and GAAP earnings per diluted common share of at least $2.75.
Total loan originations for Q4 2025 were approximately $635 million, and for the full-year 2025, they were approximately $2,716 million.
As of December 31, 2025, the total portfolio loan UPB was approximately $6,491 million, and nonperforming loans were between 8.5% and 8.6% of total loan UPB, an improvement from 10.7% as of December 31, 2024.
The company expects to report its audited financial results for the period ended December 31, 2025, on March 11, 2026.

Jan 26, 2026, 1:30 PM

Press Release

Velocity Financial Announces Nonperforming Loan Sale and Servicing Partnership

VEL

M&A

New Projects/Investments

Velocity Financial, Inc. (VEL) has entered into an agreement to sell $133.2 million in UPB of non-performing loans at a significant premium to the current mark on its balance sheet.
In connection with this sale, the company is initiating its first "Third Party Servicing" mandate to manage these loans for the buyer, aiming to create a durable, capital-light, fee-based revenue stream.
This transaction is expected to optimize the earning asset base, maximize profitability, and release capital to support continued portfolio growth and enhanced return on equity.
The transaction is anticipated to close prior to year-end.

Dec 16, 2025, 5:43 PM

8-K

Velocity Financial, Inc. Announces Nonperforming Loan Sale and New Servicing Partnership

VEL

New Projects/Investments

Revenue Acceleration/Inflection

Velocity Financial, Inc. (VEL) has agreed to sell $133.2 million in UPB of non-performing loans at a significant premium to their current balance sheet mark.
In connection with this transaction, the company is entering its first-ever "Third Party Servicing" mandate to manage these same loans for the buyer.
This initiative is expected to create a durable, capital-light, fee-based revenue stream, maximize profitability, and release capital to drive continued portfolio growth and enhanced return on equity.
The transaction is expected to close prior to year-end.

Dec 16, 2025, 1:30 PM

Press Release

Velocity Financial, Inc. Reports Strong Q3 2025 Earnings and Record Loan Production

VEL

Earnings

Debt Issuance

Revenue Acceleration/Inflection

Velocity Financial, Inc. reported net income of $25.4 million for Q3 2025, a 60.6% increase from Q3 2024, with diluted EPS of $0.65. Core net income reached $26.9 million, an increase of 58.9%, and core diluted EPS was $0.69.
Loan production achieved a new record of $739.0 million in Q3 2025, marking a 55.0% increase from Q3 2024. This contributed to the total loan portfolio growing to $6.3 billion in UPB as of September 30, 2025, a 32.0% increase from September 30, 2024.
The percentage of nonperforming loans as a portion of Held for Investment (HFI) loans decreased to 9.8% as of September 30, 2025, down from 10.6% as of September 30, 2024.
The company completed two securitizations in Q3 2025, issuing a total of $648.4 million of securities.