Velocity Financial Inc (VEL) USD0.01
Velocity Financial, Inc., formerly Velocity Financial, LLC, is a real estate finance company. The Company originate and manage investor loans secured by one-to-four unit residential rental and small commercial properties. Its portfolio includes loans held for investment and loans held for sale. Its loan is secured by a first lien on the underlying property with the added protection of a personal guarantee. Its portfolio of loans held for investment totals approximately $1.8 billion of unpaid principal balance (UPB) on properties in 45 states and the District of Columbia. It originates short-term, interest-only loans to be used for acquiring, repositioning or improving the quality of one-to-four unit residential investment properties. Its portfolio of loans held for sale consists of approximately 594 loans with an aggregate UPB of $171.5 million.
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