Velocity picks up speed with revenue and income growth
Velocity Financial, a real estate finance company based in Westlake Village, reported increases in both revenue and net income for the third quarter, compared to a year earlier. Velocity’s net income grew to $10 million from $8 million, an increase of 24.4%, while its diluted earnings per share grew to 29 cents from 23 cents, Read More →
Velocity reports earnings growth in Q2
Real estate finance company Velocity Financial saw its second quarter net income increase and its total loan portfolio grow from 2021 to 2022, according to an earnings statement the company released on Aug. 4. The Westlake Village-based company reported net income of $10.6 million, or diluted earnings per share of 31 cents, in the second Read More →
Velocity Financial reports drop in earnings
Velocity Financial, a Westlake Village-based mortgage lender for small multifamily residential and commercial properties, reported a steep decline in earnings for the first quarter of 2022 when compared to a year earlier. In an earnings report released May 5, Velocity reported net income of $3.1 million, or 9 cents per share, down from $8.4 million, Read More →
Velocity Financial reports earnings growth in Q3
Westlake Village-based mortgage lender Velocity Financial reported an increase in net income and net interest margin for the third quarter, compared to the same quarter last year, in an earnings statement released Nov. 3. Velocity reported net income of $8.02 million in the third quarter, or 23 cents per diluted share, compared to $3.5 million, Read More →
Velocity shares rise after earnings beat
Velocity Financial saw its net income rise in its second quarter financial earnings, beating estimates. The Westlake Village-based mortgage firm had net income of $9.45 million, or 28 cents per share, well above analysts’ estimates of around 15 cents per share. Velocity Financial more than tripled its net income from the same time a year Read More →
Velocity reports earnings growth, strong loan demand
Velocity Financial saw its net income spike when it reported its first quarter financial earnings on May 6. The Westlake Village-based real estate financial company recorded a net income of $3.4 million and core income of $6.72 million, or 10 cents and 20 cents per diluted share. In 2020, the company had a net income Read More →
Velocity Financial recovers from pandemic with strong fourth quarter
Velocity Financial saw its net income increase slightly from 2019 to 2020, even though the company’s loan production operations were suspended for more than half the year. The Westlake Village-based real estate finance company saw its net income go up 3%, from $17.3 million in 2019 to $17.8 million in 2020, according to earnings released Read More →
