Velocity Announces Pricing of $249 Million Securitization
Velocity Financial, Inc. (VEL)
Company Research
Source: Business Wire
Thirteenth Securitization in Since 2011 WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Velocity Financial, Inc. (NYSE: VEL), a leading originator of investor loans secured by 1-4 unit residential rental and small commercial properties, today announced the pricing of its first securitization transaction of 2020. The VCC 2020-1 Mortgage-Backed certificates (the “Certificates”) are rated by KBRA (Kroll Bond Rating Agency) and are backed by a portfolio of loans originated through Velocity’s operating platform.“We are pleased with the strong market reception of our first securitization of 2020 and our 13th transaction overall,” said President and CEO, Chris Farrar. “Velocity’s track record of outstanding collateral performance has resulted in our ability to consistently access the capital markets for term financing, allowing us to successfully grow the business while continuing to reduce funding costs. The quality of Velocity’s originations drives our practice of retaining at least 5 percen
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News
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VEL
Earnings
- 5/2/24 - Beat
VEL
Sec Filings
- 5/3/24 - Form 424B5
- 5/3/24 - Form 8-K
- 5/3/24 - Form 8-K
- VEL's page on the SEC website