VEL on NYSE
Velocity Financial, Inc.
In its 2026 annual report the company says: “We are a vertically integrated real estate finance company founded in 2004. We originate, securitize, and manage a nationwide portfolio of loans secured by real estate to earn attractive risk adjusted spreads for our shareholders. We originate loans nationwide across our extensive network of independent mortgage brokers and direct borrower relationships, which we have built and refined over the 21 years since our inception.”4 It is headquartered in Westlake Village, California.1 Its shares trade on NYSE under the symbol VEL.1
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Last updated Oct 21, 2026.
Overview
- TickerVEL on NYSE1
- IndustryFinance Services1
- HeadquartersWestlake Village, California1
- Incorporated inDE2
- Business address2945 Townsgate Road, Suite 110, Westlake Village, Ca 913612
- Filer categoryAccelerated filer, Smaller reporting company2
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We are a vertically integrated real estate finance company founded in 2004. We originate, securitize, and manage a nationwide portfolio of loans secured by real estate to earn attractive risk adjusted spreads for our shareholders. We primarily originate investor loans secured by 1-4 unit residential rental properties, as well as loans for multi-family, mixed use and commercial properties. We originate loans nationwide across our extensive network of independent mortgage brokers and direct borrower relationships, which we have built and refined over the 21 years since our inception. Our objective is to be the preferred and one of the most recognized brands in our core market.4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Financial statements
Every line of the income statement as filed: the last 3 fiscal years (annual) or 8 quarters (quarterly), latest first.9
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Interest income | $550.8M | $406.8M | $310.8M |
| Interest expense portfolio related | $340.5M | $247.2M | $186.5M |
| Net interest income portfolio related | $210.4M | $159.6M | $124.3M |
| Interest expense corporate debt | $24.6M | $23.8M | $16.6M |
| Net interest income | $185.8M | $135.8M | $107.8M |
| Provision for credit losses | $5.8M | $1.2M | $1.9M |
| Net interest income after provision for credit losses | $180.0M | $134.6M | $105.8M |
| Gain on disposition of loans | $9.9M | $8.2M | |
| Unrealized gain on fair value loans | $116.9M | $55.9M | $47.9M |
| Unrealized gain (loss) on fair value securitized debt | -$30.5M | $2.6M | -$9.0M |
| Unrealized gain (loss) on mortgage servicing rights | -$998.0K | $375.0K | -$660.0K |
| Origination fee income | $34.0M | $24.0M | $12.4M |
| Interest income on cash balance | $5.9M | $6.5M | $5.2M |
| Other income | $2.1M | $2.1M | $1.8M |
| Total other operating income | $163.6M | $101.4M | $65.9M |
| Compensation and employee benefits | $90.2M | $69.6M | $48.3M |
| Origination expenses | $4.5M | $3.1M | $518.0K |
| Securitization expenses | $28.3M | $19.4M | $12.9M |
| Loan servicing | $33.4M | $22.4M | $17.6M |
| Professional fees | $6.1M | $7.6M | $4.6M |
| Rent and occupancy | $1.1M | $1.9M | $1.9M |
| Real estate owned, net | $22.9M | $6.0M | $6.2M |
| Other operating expenses | $10.8M | $9.6M | $8.5M |
| Total operating expenses | $197.4M | $139.6M | $100.6M |
| Income before income taxes | $146.2M | $96.4M | $71.1M |
| Total income tax expense | $41.3M | $27.9M | $18.8M |
| Net income | $105.0M | $68.5M | $52.3M |
| Net income (loss) attributable to noncontrolling interest | -$71.0K | $47.0K | $20.0K |
| Net income attributable to Velocity Financial, Inc. | $105.1M | $68.4M | $52.3M |
| Less undistributed earnings attributable to unvested restricted stock awards | $1.3M | $834.0K | $753.0K |
| Net earnings attributable to common stockholders | $103.7M | $67.6M | $51.5M |
| Basic | $2.81 | $2.07 | $1.60 |
| Diluted | $2.75 | $1.91 | $1.52 |
| Basic | 36.9M shares | 32.7M shares | 32.2M shares |
| Diluted | 38.2M shares | 35.8M shares | 34.5M shares |
| Period ending | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 |
|---|---|---|---|---|---|---|---|---|
| Interest income | $152.4M | $144.1M | $135.6M | $118.7M | $113.5M | $105.1M | $97.8M | $90.5M |
| Interest expense portfolio related | $94.7M | $88.9M | $81.8M | $75.1M | $68.5M | $63.9M | $59.2M | $55.7M |
| Net interest income portfolio related | $57.8M | $55.2M | $53.7M | $43.7M | $45.0M | $41.2M | $38.6M | $34.9M |
| Interest expense corporate debt | $6.1M | $6.1M | $6.1M | $6.1M | $6.1M | $6.1M | $6.2M | $5.4M |
| Net interest income | $51.6M | $49.1M | $47.6M | $37.5M | $38.9M | $35.1M | $32.4M | $29.5M |
| Provision for credit losses | $2.0M | $381.0K | $1.6M | $1.9M | $22.0K | -$69.0K | $218.0K | $1.0M |
| Net interest income after provision for credit losses | $49.7M | $48.7M | $46.0M | $35.6M | $38.8M | $35.1M | $32.2M | $28.5M |
| Total other operating income | $53.2M | $37.1M | $39.8M | $33.4M | $32.3M | $20.7M | $22.6M | $25.8M |
| Total operating expenses | $52.9M | $50.4M | $51.9M | $42.2M | $39.1M | $34.6M | $34.9M | $31.0M |
| Income before income taxes | $50.0M | $35.4M | $33.9M | $26.9M | $32.0M | $21.2M | $19.9M | $23.2M |
| Total income tax expense | $15.3M | $10.0M | $7.8M | $8.2M | $11.2M | $5.6M | $5.2M | $5.9M |
| Net income | $34.8M | $25.4M | $26.2M | $18.6M | $20.8M | $15.6M | $14.7M | $17.3M |
| Net income (loss) attributable to noncontrolling interest | -$44.0K | $39.0K | $173.0K | -$239.0K | $218.0K | -$186.0K | -$67.0K | $82.0K |
| Net income attributable to Velocity Financial, Inc. | $34.8M | $25.4M | $26.0M | $18.9M | $20.6M | $15.8M | $14.8M | $17.3M |
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.9
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $92.1M | $49.9M | $40.6M | |
| Restricted cash | $157.1M | $20.9M | $21.4M | |
| Loans held for investment, at amortized cost | $2.0B | $2.4B | ||
| Total loans, net | $6.8B | $5.2B | ||
| Accrued interest receivables | $49.7M | $35.2M | ||
| Receivables due from servicers | $150.9M | $123.5M | ||
| Other receivables | $1.9M | $1.4M | ||
| Property and equipment, net | $1.4M | $1.6M | ||
| Mortgage servicing rights, at fair value | $13.0M | $13.7M | $8.6M | $9.2M |
| Derivative Asset | $66.0K | |||
| Goodwill | $6.8M | $6.8M | $6.8M | |
| Other assets | $9.5M | $5.7M | ||
| Accounts payable and accrued expenses | $168.3M | $147.8M | ||
| Secured financing, net | $286.7M | $284.8M | ||
| Securitized debt, at amortized cost | $1.7B | $2.0B | ||
| Securitized debt, at fair value | $4.2B | $2.2B | ||
| Warehouse and repurchase facilities, net | $308.5M | $348.1M | ||
| Total liabilities | $6.7B | $5.0B | ||
| Common stock ($0.01 par value, 100,000,000 shares authorized; 38,965,317 and 33,761,147 shares issued, 39,573,657 and 33,545,585 shares outstanding as of December 31, 2025 and 2024, respectively) | $398.0K | $339.0K | ||
| Additional paid-in capital | $382.6M | $323.0M | ||
| Retained earnings | $302.4M | $197.3M | ||
| Treasury stock, at cost (608,340 and 215,562 common shares as of December 31, 2025 and 2024 respectively) | -$10.2M | -$2.9M | ||
| Accumulated other comprehensive loss | -$2.6M | -$805.0K | ||
| Total Velocity Financial Inc. stockholders' equity | $672.5M | $516.9M | ||
| Noncontrolling interest in subsidiary | $3.2M | $3.3M | ||
| Total equity | $675.7M | $520.2M | $436.9M | $380.5M |
| Total liabilities and equity | $7.4B | $5.5B | ||
| Allowance for credit losses | $4.5M | $4.2M | $4.8M | |
| Common stock, par or stated value per share | $0.01 | $0.01 | ||
| Common stock, shares authorized | 100.0M shares | 100.0M shares | ||
| Common stock, shares issued | 39.0M shares | 33.8M shares | ||
| Common stock, shares, outstanding | 39.6M shares | 33.5M shares | ||
| Treasury stock, common, shares | 608.3K shares | 215.6K shares | ||
| Loans held for investment, at fair value | $4.7B | $2.8B | ||
| Real estate owned, net | $118.3M | $68.0M | ||
| Deferred tax asset | $22.7M | $13.6M | ||
| Total assets | $7.4B | $5.5B |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $92.1M | $49.9M | $40.6M | |
| Restricted cash | $157.1M | $20.9M | $21.4M | |
| Loans held for investment, at amortized cost | $2.0B | $2.4B | ||
| Total loans, net | $6.8B | $5.2B | ||
| Accrued interest receivables | $49.7M | $35.2M | ||
| Receivables due from servicers | $150.9M | $123.5M | ||
| Other receivables | $1.9M | $1.4M | ||
| Property and equipment, net | $1.4M | $1.6M | ||
| Mortgage servicing rights, at fair value | $13.0M | $13.7M | $8.6M | $9.2M |
| Derivative Asset | $66.0K | |||
| Goodwill | $6.8M | $6.8M | $6.8M | |
| Other assets | $9.5M | $5.7M | ||
| Accounts payable and accrued expenses | $168.3M | $147.8M | ||
| Secured financing, net | $286.7M | $284.8M | ||
| Securitized debt, at amortized cost | $1.7B | $2.0B | ||
| Securitized debt, at fair value | $4.2B | $2.2B | ||
| Warehouse and repurchase facilities, net | $308.5M | $348.1M | ||
| Total liabilities | $6.7B | $5.0B | ||
| Common stock ($0.01 par value, 100,000,000 shares authorized; 38,965,317 and 33,761,147 shares issued, 39,573,657 and 33,545,585 shares outstanding as of December 31, 2025 and 2024, respectively) | $398.0K | $339.0K | ||
| Additional paid-in capital | $382.6M | $323.0M | ||
| Retained earnings | $302.4M | $197.3M | ||
| Treasury stock, at cost (608,340 and 215,562 common shares as of December 31, 2025 and 2024 respectively) | -$10.2M | -$2.9M | ||
| Accumulated other comprehensive loss | -$2.6M | -$805.0K | ||
| Total Velocity Financial Inc. stockholders' equity | $672.5M | $516.9M | ||
| Noncontrolling interest in subsidiary | $3.2M | $3.3M | ||
| Total equity | $675.7M | $520.2M | $436.9M | $380.5M |
| Total liabilities and equity | $7.4B | $5.5B | ||
| Allowance for credit losses | $4.5M | $4.2M | $4.8M | |
| Common stock, par or stated value per share | $0.01 | $0.01 | ||
| Common stock, shares authorized | 100.0M shares | 100.0M shares | ||
| Common stock, shares issued | 39.0M shares | 33.8M shares | ||
| Common stock, shares, outstanding | 39.6M shares | 33.5M shares | ||
| Treasury stock, common, shares | 608.3K shares | 215.6K shares | ||
| Loans held for investment, at fair value | $4.7B | $2.8B | ||
| Real estate owned, net | $118.3M | $68.0M | ||
| Deferred tax asset | $22.7M | $13.6M | ||
| Total assets | $7.4B | $5.5B |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.9
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income | $105.0M | $68.5M | $52.3M |
| Depreciation and amortization | $516.0K | $793.0K | $752.0K |
| Amortization of right-of-use assets | $1.5M | $1.2M | $1.5M |
| Provision for credit losses | $5.8M | $1.2M | $1.9M |
| Origination of loans held for sale | -$49.7M | -$23.6M | -$38.0M |
| Proceeds from sales of loans held for sale | $50.9M | $24.0M | $25.8M |
| Net accretion of discount on purchased loans and deferred loan origination costs | $3.8M | $4.4M | $4.8M |
| Provision for (reversal of) uncollectible corporate and escrow advances receivable | -$158.0K | $554.0K | $721.0K |
| Gain on disposition of loans | -$1.2M | -$826.0K | |
| Real estate acquired through foreclosure in excess of recorded investment | -$15.7M | -$8.7M | -$7.4M |
| Amortization of debt issuance discount and costs | $10.1M | $12.2M | $18.6M |
| Change in valuation of real estate owned | $17.5M | $6.1M | $3.9M |
| Change in valuation of fair value loans | -$116.9M | -$55.9M | -$47.9M |
| Change in valuation of mortgage servicing rights | $998.0K | -$375.0K | $660.0K |
| Change in valuation of fair value securitized debt | $30.5M | -$2.6M | $9.0M |
| Hedging activities | -$2.9M | $1.1M | -$2.1M |
| Gain on sale of real estate owned | -$1.4M | -$4.3M | -$568.0K |
| Stock-based compensation | $8.3M | $6.2M | $4.1M |
| Deferred tax (benefit) expense | -$8.1M | -$11.4M | $2.7M |
| Accrued interest and other receivables | -$17.2M | -$6.4M | -$9.2M |
| Other assets | -$3.6M | -$284.0K | $8.4M |
| Accounts payable and accrued expenses | $19.6M | $26.3M | $19.7M |
| Net cash provided by operating activities | $18.2M | $37.8M | $48.8M |
| Purchase of loans held for investment | -$16.7M | -$13.8M | |
| Origination of loans held for investment | -$2.7B | -$1.8B | -$1.1B |
| Proceeds from sales of loans originally classified as held for investment | $50.2M | $21.5M | |
| Payments of loans held for investment | $963.8M | $723.0M | $459.7M |
| Proceeds from sale of real estate owned | $55.6M | $33.0M | $21.7M |
| Capitalized improvement on real estate owned | -$1.3M | ||
| Change in corporate and escrow advances receivable | -$1.6M | -$10.5M | -$3.0M |
| Change in impounds and deposits | -$1.2M | -$2.1M | $9.2M |
| Purchase of property and equipment | -$281.0K | -$289.0K | -$180.0K |
| Proceeds from sale of property and equipment | $640.0K | ||
| Purchase of mortgage servicing rights | -$4.8M | ||
| Net cash used in investing activities | -$1.5B | -$1.0B | -$584.7M |
| Warehouse repurchase facilities advances | $2.6B | $1.9B | $1.2B |
| Warehouse repurchase facilities repayments | -$2.7B | -$1.9B | -$1.2B |
| Proceeds from secured financing | $74.3M | ||
| Proceeds of securitized debt | $2.7B | $1.6B | $975.1M |
| Repayment of securitized debt | -$971.7M | -$666.3M | -$438.8M |
| Purchase of treasury stock | -$7.3M | -$1.6M | -$861.0K |
| Debt issuance costs | -$1.6M | -$3.9M | -$3.1M |
| Proceeds from issuance of common stock related to warrants exercised | $10.9M | ||
| Proceeds from issuance of common stocks, net | $41.0M | $10.1M | $2.3M |
| Deferred stock issuance costs | -$392.0K | -$186.0K | |
| Distribution to non-controlling interest | -$47.0K | -$205.0K | -$280.0K |
| Net cash provided by financing activities | $1.7B | $1.0B | $535.8M |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | $178.4M | $8.9M | -$129.0K |
| Cash paid during the year for interest | $344.9M | $251.3M | $180.4M |
| Cash paid during the year for income taxes | $50.7M | $41.5M | $7.6M |
| Transfer of loans held for investment to loans held for sale | $109.8M | $35.1M | $42.0M |
| Transfer of loans held for investment to real estate owned | $105.0M | $49.9M | $48.6M |
| Transfer of loans held for sale to held for investment | $2.6M | $16.2M | |
| Capitalized interest on loans held for investment | $2.3M | $1.4M | $2.4M |
| Discount on issuance of securitized debt | $4.3M | $1.6M | |
| Recognition of new leases in exchange for lease obligations | $1.8M | $1.2M | $1.7M |
No quarter-by-quarter statement was filed.
Corporate structure
Velocity Financial, Inc. sits at the top of its group. 47 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Velocity Financial, Inc.
- Beach Point Capital Management LP Filed SCHEDULE 13G/A on Velocity Financial, Inc., latest Feb 13, 2026 (6 filings since Feb 8, 2022)
- SPG GP, LLC Filed SCHEDULE 13D/A on Velocity Financial, Inc., latest Aug 12, 2025 (4 filings since Oct 12, 2021)
- PACIFIC INVESTMENT MANAGEMENT CO LLC Filed SCHEDULE 13D/A on Velocity Financial, Inc., latest May 1, 2025 (7 filings since Oct 12, 2021)
- ADAGE CAPITAL PARTNERS GP, L.L.C. Filed SC 13G/A on Velocity Financial, Inc., latest Feb 10, 2022
- WELLINGTON TRUST Co N A Filed SC 13G/A on Velocity Financial, Inc., latest Feb 4, 2022
- Wellington Management Company Filed SC 13G/A on Velocity Financial, Inc., latest Feb 4, 2022
- Wellington Trust Company, National Association Multiple Common Trust Funds Trust, Micro Cap Equity Portfolio Filed SC 13G/A on Velocity Financial, Inc., latest Feb 4, 2022
- Velocity Financial, Inc. Westlake Village, California
- Century Health & Housing Capital, LLC Subsidiary · Delaware, United States
- NDCC LLC Subsidiary · Delaware, United States
- New Day Business Finance LLC Subsidiary · Delaware, United States
- VCC ABF, LLC Subsidiary · Delaware, United States
- VCC Capital Source Financing, LLC Subsidiary · Delaware, United States
- VCC Mortgage Securities, LLC Subsidiary · Delaware, United States
- VCC ND, LLC Subsidiary · Delaware, United States
- Velocity Commercial Capital 2025-MCI Trust Subsidiary · Delaware, United States
- Velocity Commercial Capital FB Financing, LLC Subsidiary · Delaware, United States
- Velocity Commercial Capital Loan Trust 2017-2 Subsidiary · New York, United States
- Velocity Commercial Capital Loan Trust 2018-1 Subsidiary · New York, United States
- Velocity Commercial Capital Loan Trust 2018-2 Subsidiary · New York, United States
- Velocity Commercial Capital Loan Trust 2019-1 Subsidiary · New York, United States
- Velocity Commercial Capital Loan Trust 2019-2 Subsidiary · New York, United States
- Velocity Commercial Capital Loan Trust 2019-3 Subsidiary · New York, United States
- Velocity Commercial Capital Loan Trust 2020-1 Subsidiary · New York, United States
- Velocity Commercial Capital Loan Trust 2021-1 Subsidiary · New York, United States
- Velocity Commercial Capital Loan Trust 2021-2 Subsidiary · New York, United States
- Velocity Commercial Capital Loan Trust 2021-3 Subsidiary · New York, United States
- Velocity Commercial Capital Loan Trust 2021-4 Subsidiary · New York, United States
- Velocity Commercial Capital Loan Trust 2022-1 Subsidiary · New York, United States
- Velocity Commercial Capital Loan Trust 2022-2 Subsidiary · New York, United States
- Velocity Commercial Capital Loan Trust 2022-3 Subsidiary · New York, United States
- Velocity Commercial Capital Loan Trust 2022-4 Subsidiary · New York, United States
- Velocity Commercial Capital Loan Trust 2022-5 Subsidiary · New York, United States
- and 21 more
Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Velocity Financial, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $9.3M9 Dec 31, 2025 | $9.6M9 Dec 31, 2024 | −3.9% |
| Accumulated depreciation | $7.8M9 Dec 31, 2025 | $8.0M9 Dec 31, 2024 | −1.8% |
| Property and equipment, net | $1.4M9 Dec 31, 2025 | $1.6M9 Dec 31, 2024 | −14.2% |
| Operating-lease assets (leased space) | $2.8M9 Dec 31, 2025 | $2.5M9 Dec 31, 2024 | +13.0% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $92.1M9 Dec 31, 2025 | $49.9M9 Dec 31, 2024 | +84.6% |
Intangibles and goodwill
Properties, in its own words
Our corporate headquarters are located in leased space at 2945 Townsgate Road, Suite 110, Westlake Village, CA 91361. Our corporate headquarters as well as our other leased office spaces across the U.S. are suitable and adequate for our needs.
Item 2 of the 10-K filed Mar 12, 2026.4
Leadership
Who has led Velocity Financial, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
Chief operating officer
2025
- Chief executive officerChristopher D. Farrar Jan 17, 2020 to now13
- Chief financial officerMark R. Szczepaniak Jan 17, 2020 to now14
- Chief operating officerJoseph A. Cowell Jan 27, 2020 to May 22, 202015
Board members and other officers (17)
- Chief Accounting OfficerFiona Tam Feb 16, 2022 to now16
- Chief Accounting OfficerChristopher J. Oltmann Jan 17, 2020 to Feb 16, 202217
- OfficerGraham M. Comley Jan 17, 2020 to Jan 19, 202118
- OfficerJeffrey T. Taylor Jan 17, 2020 to now19
- OfficerJoseph A. Cowell Jan 17, 2020 to Jan 19, 202120
- Board memberOmar Maasarani Apr 12, 2023 to Apr 12, 202321
- Board memberMichael Chiao May 7, 2021 to May 7, 202122
- Board memberKatherine Verner Jun 30, 2021 to Jun 30, 202123
- Board memberAlan H. Mantel Jan 17, 2020 to Jan 17, 202024
- Board memberChristopher D. Farrar Jan 17, 2020 to now13
- Board memberDaniel Ballen Jan 17, 2020 to Apr 30, 202125
- Board memberIan K. Snow Jan 17, 2020 to now26
- Board memberJohn A. Pless Jan 17, 2020 to Jan 17, 202027
- Board memberJohn Pitstick Jan 17, 2020 to now28
- Board memberJoy L. Schaefer Jan 17, 2020 to now29
- Board memberDorika M. Beckett Jul 30, 2020 to now30
- General counselRoland Thomas Kelly Jul 7, 2020 to now31
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- Century Health & Housing Capital, LLC Delaware3
- NDCC LLC Delaware3
- New Day Business Finance LLC Delaware3
- VCC ABF, LLC Delaware3
- VCC Capital Source Financing, LLC Delaware3
- VCC Mortgage Securities, LLC Delaware3
- VCC ND, LLC Delaware3
- Velocity Commercial Capital 2025-MCI Trust Delaware3
- Velocity Commercial Capital FB Financing, LLC Delaware3
- Velocity Commercial Capital Loan Trust 2017-2 New York3
- Velocity Commercial Capital Loan Trust 2018-1 New York3
- Velocity Commercial Capital Loan Trust 2018-2 New York3
- Velocity Commercial Capital Loan Trust 2019-1 New York3
- Velocity Commercial Capital Loan Trust 2019-2 New York3
- Velocity Commercial Capital Loan Trust 2019-3 New York3
- Velocity Commercial Capital Loan Trust 2020-1 New York3
- Velocity Commercial Capital Loan Trust 2021-1 New York3
- Velocity Commercial Capital Loan Trust 2021-2 New York3
- Velocity Commercial Capital Loan Trust 2021-3 New York3
- Velocity Commercial Capital Loan Trust 2021-4 New York3
- Velocity Commercial Capital Loan Trust 2022-1 New York3
- Velocity Commercial Capital Loan Trust 2022-2 New York3
- Velocity Commercial Capital Loan Trust 2022-3 New York3
- Velocity Commercial Capital Loan Trust 2022-4 New York3
All 46 listed subsidiaries
- Velocity Commercial Capital Loan Trust 2022-5 New York3
- Velocity Commercial Capital Loan Trust 2023-1 New York3
- Velocity Commercial Capital Loan Trust 2023-2 New York3
- Velocity Commercial Capital Loan Trust 2023-3 New York3
- Velocity Commercial Capital Loan Trust 2023-4 New York3
- Velocity Commercial Capital Loan Trust 2024-1 New York3
- Velocity Commercial Capital Loan Trust 2024-2 New York3
- Velocity Commercial Capital Loan Trust 2024-3 New York3
- Velocity Commercial Capital Loan Trust 2024-4 New York3
- Velocity Commercial Capital Loan Trust 2024-5 New York3
- Velocity Commercial Capital Loan Trust 2024-6 New York3
- Velocity Commercial Capital Loan Trust 2025-1 New York3
- Velocity Commercial Capital Loan Trust 2025-2 New York3
- Velocity Commercial Capital Loan Trust 2025-3 New York3
- Velocity Commercial Capital Loan Trust 2025-4 New York3
- Velocity Commercial Capital Loan Trust 2025-5 New York3
- Velocity Commercial Capital Loan Trust 2025-P1 New York3
- Velocity Commercial Capital Loan Trust 2025-P2 New York3
- Velocity Commercial Capital Loan Trust 2025-RTL1 Delaware3
- Velocity Commercial Capital MRA Trust 2024-1 Delaware3
- Velocity Commercial Capital Warehouse 2025, LLC Delaware3
- Velocity Commercial Capital, LLC California3
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Former names
- Velocity Financial, LLCDec 16, 2016 to Jan 17, 20202
Timeline
- Aug 27, 20268-K Entered a material agreement; Regulation FD disclosure32
- Aug 5, 20268-K Results of operations33
- Aug 5, 20268-K Regulation FD disclosure34
- May 26, 20268-K Shareholder vote35
- May 7, 20268-K Regulation FD disclosure36
- May 6, 20268-K Results of operations37
- Mar 13, 20268-K Results of operations38
- Mar 12, 20268-K Regulation FD disclosure39
- Jan 30, 20268-K Entered a material agreement; Other events40
- Jan 29, 20268-K Entered a material agreement; Other events41
- Jan 26, 20268-K Results of operations; Other events42
- Jan 20, 20268-K Executive or director change43
- Jan 17, 2020New chief executive Christopher D. Farrar becomes CEO13
Calendar
Coming up
- Nov 5, 2026Reports results for the quarter ending Sep/202644
When it reported results
- Aug 5, 2026Reported quarterly or annual results33
- May 6, 2026Reported quarterly or annual results37
- Mar 13, 2026Reported quarterly or annual results38
- Jan 26, 2026Reported quarterly or annual results42
- Nov 7, 2025Reported quarterly or annual results45
- Aug 8, 2025Reported quarterly or annual results46
- May 2, 2025Reported quarterly or annual results47
- Mar 10, 2025Reported quarterly or annual results48
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
317 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 69 major events, 158 insider forms, 21 large holders, 49 other. The latest 20:
- Sep 10, 2026144 EDGAR
- Sep 10, 20264 PRIMARY DOCUMENT EDGAR
- Sep 1, 20264 PRIMARY DOCUMENT EDGAR
- Aug 27, 20268-K EDGAR
- Aug 11, 2026144 EDGAR
- Aug 11, 2026144 EDGAR
- Aug 11, 20264 PRIMARY DOCUMENT EDGAR
- Aug 11, 20264 PRIMARY DOCUMENT EDGAR
- Aug 10, 2026144 EDGAR
- Aug 10, 20264 PRIMARY DOCUMENT EDGAR
- Aug 6, 20264 PRIMARY DOCUMENT EDGAR
- Aug 6, 20264 PRIMARY DOCUMENT EDGAR
- Aug 6, 202610-Q EDGAR
- Aug 5, 20268-K EDGAR
- Aug 5, 20268-K EDGAR
- Jul 28, 2026144 EDGAR
- Jul 28, 20264 PRIMARY DOCUMENT EDGAR
- Jul 9, 20264 PRIMARY DOCUMENT EDGAR
- Jul 9, 20264 PRIMARY DOCUMENT EDGAR
- Jul 7, 2026144 EDGAR
The 317 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
34 open-market trades by officers, directors and large owners since October 2021: 1 buys and 33 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 10, 2026 | Szczepaniak Mark RChief Financial Officer | Sale | 2,000 | $18.03 | $36.1K | Form 4 |
| Sep 1, 2026 | Kelly Roland ThomasChief Legal Officer and GC | Sale | 1,600 | $18.00 | $28.8K | Form 4 |
| Aug 11, 2026 | Taylor Jeffrey T.Executive VP, Capital Markets | Sale | 4,330 | $19.06 | $82.5K | Form 4 |
| Aug 11, 2026 | Tam FionaChief Accounting Officer | Sale | 1,232 | $19.00 | $23.4K | Form 4 |
| Aug 10, 2026 | Szczepaniak Mark RChief Financial Officer | Sale | 2,000 | $18.16 | $36.3K | Form 4 |
| Aug 6, 2026 | Kelly Roland ThomasChief Legal Officer and GC | Sale | 1,600 | $18.00 | $28.8K | Form 4 |
| Aug 6, 2026 | Szczepaniak Mark RChief Financial Officer | Sale | 400 | $18.00 | $7.2K | Form 4 |
| Jul 28, 2026 | Szczepaniak Mark RChief Financial Officer | Sale | 400 | $18.00 | $7.2K | Form 4 |
| Jul 7, 2026 | Tam FionaChief Accounting Officer | Sale | 68 | $19.00 | $1.3K | Form 4 |
| Jul 7, 2026 | Taylor Jeffrey T.Executive VP, Capital Markets | Sale | 2,165 | $19.00 | $41.1K | Form 4 |
| Jul 1, 2026 | Kelly Roland ThomasChief Legal Officer and GC | Sale | 1,600 | $18.57 | $29.7K | Form 4 |
| Jun 26, 2026 | Szczepaniak Mark RChief Financial Officer | Sale | 1,573 | $18.07 | $28.4K | Form 4 |
| May 1, 2026 | Szczepaniak Mark RChief Financial Officer | Sale | 1,573 | $19.30 | $30.4K | Form 4 |
| Apr 17, 2026 | Taylor Jeffrey T.Executive VP, Capital Markets | Sale | 2,130 | $20.00 | $42.6K | Form 4 |
| Apr 1, 2026 | Szczepaniak Mark RChief Financial Officer | Sale | 1,573 | $18.13 | $28.5K | Form 4 |
| Mar 31, 2026 | Kelly Roland ThomasChief Legal Officer and GC | Sale | 814 | $18.22 | $14.8K | Form 4 |
| Mar 30, 2026 | Kelly Roland ThomasChief Legal Officer and GC | Sale | 14,026 | $18.03 | $252.9K | Form 4 |
| Mar 17, 2026 | Kelly Roland ThomasChief Legal Officer and GC | Sale | 5,160 | $18.06 | $93.2K | Form 4 |
| Mar 2, 2026 | Szczepaniak Mark RChief Financial Officer | Sale | 1,573 | $18.32 | $28.8K | Form 4 |
| Feb 2, 2026 | Taylor Jeffrey T.Executive VP, Capital Markets | Sale | 1,772 | $20.33 | $36.0K | Form 4 |
All 34 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Beach Point Capital Management LPSCHEDULE 13G/A, 6 filings Feb 8, 2022 to Feb 13, 202649
- SPG GP, LLCSCHEDULE 13D/A, 4 filings Oct 12, 2021 to Aug 12, 202550
- PACIFIC INVESTMENT MANAGEMENT CO LLCSCHEDULE 13D/A, 7 filings Oct 12, 2021 to May 1, 202551
- ADAGE CAPITAL PARTNERS GP, L.L.C.SC 13G/A, 1 filing Feb 10, 202252
- WELLINGTON TRUST Co N ASC 13G/A, 1 filing Feb 4, 202253
- Wellington Management CompanySC 13G/A, 1 filing Feb 4, 202254
- Wellington Trust Company, National Association Multiple Common Trust Funds Trust, Micro Cap Equity PortfolioSC 13G/A, 1 filing Feb 4, 202255
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Christopher D. Farrar | $630.0K | $6.6M56 | |
| 2025 | Mark R. Szczepaniak | $393.8K | $2.4M56 | |
| 2025 | Jeffrey T. Taylor | $315.0K | $2.2M56 | |
| 2024 | Chief Executive Officer | $630.0K | $5.4M56 | |
| 2024 | Chief Financial Officer | $393.8K | $2.4M56 | |
| 2024 | Executive Vice | $315.0K | $2.0M56 | |
| 2023 | Chief Executive Officer | $630.0K | $3.9M56 | |
| 2023 | Chief Financial Officer | $393.8K | $1.6M56 | |
| 2023 | PresidentCapital Markets | $315.0K | $1.3M56 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 98. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How Velocity Financial, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARVelocity Financial, Inc.1
- CIK0001692376
- Employer ID (EIN)46-06597194
- Filer statusAccelerated filer not an emerging growth company; a smaller reporting company; not a shell company4
- Incorporated inDelaware4
- Fiscal year endsDecember 311
- Industry code (SIC)6199 Finance Services1
- SEC reviewing officeOffice of Finance, Division of Corporation Finance1
- Business address2945 Townsgate Road, Suite 110, Westlake Village, CA 913611
- Phone866-505-38631
- Shares outstanding39,481,457 as of Jul 31, 202611
- Public float$205.1M as of Jun 30, 20254
- AuditorRSM US LLP, Los Angeles, California PCAOB ID 49; it also attests to the company’s internal control over financial reporting4
- On EDGAR sinceDec 16, 20161
- Filings434 in all: 4 (179), 8-K (92), 10-Q (20), 3 (19), 144 (17), SC 13G/A (10), 10-K (7), CORRESP (7)1
All 36 form types
DEF 14A (7), DEFA14A (7), SCHEDULE 13D/A (6), UPLOAD (6), SC 13D/A (5), SC 13G (5), 424B5 (4), ARS (4), EFFECT (4), S-3 (3), S-3/A (3), S-8 (3), 4/A (2), 8-A12B (2), 8-K/A (2), CERT (2), DRS/A (2), DRSLTR (2), PRE 14A (2), S-1/A (2), SC 13D (2), SCHEDULE 13G/A (2), 3/A (1), 424B4 (1), D (1), DRS (1), NT 10-K (1), S-1 (1)
- Latest filingsAnnual report (10-K) Mar 12, 2026
Quarterly report (10-Q) Aug 6, 2026
Proxy statement (DEF 14A) Apr 10, 2026
Latest 8-K (8-K) Aug 27, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common stock, par value $0.01 per share | VEL | The New York Stock Exchange |
| Common stock, par value $0.01 per share | VEL | NYSE |
From the cover page of the 10-K filed Mar 12, 2026 (Section 12(b) of the Exchange Act).4
Risk factors and legal proceedings
The risks Velocity Financial, Inc. names in Item 1A of its 10-K filed Mar 12, 2026: 57 risks under these headings, as written.4
- Risks Related to Our Financial Performance, Financing Our Business, Liquidity and Net Worth, and the Economy
- Risks Related to Our Business
- Legal and Regulatory Risks
- Risks Relating to Ownership of Our Common Stock
- We are dependent upon the success of the investor real estate market and conditions that negatively impact this market may reduce demand for our loans and adversely impact our business, results of operations and financial condition.
- Difficult conditions in the real estate markets, the financial markets and the economy generally may adversely impact our business, results of operations and financial condition.
- Adverse global market, economic and political conditions, including government shutdowns, armed conflicts or terrorist acts, pandemics and other catastrophic events could have a material adverse effect on us.
- We operate in a competitive market for loan origination and acquisition opportunities and competition may limit our ability to originate and acquire loans, which could adversely affect our ability to execute our business strategy.
- Loans to small businesses involve a high degree of business and financial risk, which can result in substantial losses that would adversely affect our business, results of operation and financial condition.
- The failure of a third-party servicer or the failure of our own internal servicing system to effectively service our portfolio of mortgage loans may adversely impact our business, results of operations and financial condition.
- We are dependent on certain of our key personnel for our future success, and their continued service to us is not guaranteed.
- Our growth strategy relies upon our ability to hire and retain qualified account executives, and if we are unable to do so, our growth could be limited.
The other 48 risks
- Inaccurate or incomplete information received from potential borrowers, guarantors and sellers involved in the sale of pools of loans could have a negative impact on our results of operation.
- Deficiencies in appraisal quality in the mortgage loan origination process may result in increased principal loss severity.
- We use leverage in executing our business strategy, which may adversely affect us when economic conditions are unfavorable.
- Our underwriting guidelines in the mortgage loan origination process may result in increased delinquencies and defaults.
- We may change our strategy or underwriting guidelines without notice or stockholder consent, which may result in changes to our risk profile, results of operations and financial condition.
- Our inability to manage future growth effectively could have an adverse impact on our business, results of operations and financial condition.
- If we fail to develop, enhance and implement strategies to adapt to changing conditions in the real estate and capital markets, our business, results of operations and financial condition may be materially and adversely affected.
- Operational risks, including the risk of cyberattacks and other security incidents, could disrupt our business and materially and adversely affect our business, results of operations and financial condition.
- Any disruption in the availability or functionality of our technology infrastructure and systems could have a material adverse effect on our business.
- Our intellectual property and other proprietary rights may be inadequate to protect our business or may be infringed, misappropriated or challenged by others, or we may be subject to claims of intellectual property infringement or misappropriation asserted by third parties.
- Acquisitions, strategic investments, entries into new businesses, and divestitures could disrupt our business, divert our management’s attention, result in additional dilution to our stockholders, and harm our business.
- Risks Related to Our Loan Portfolio
- A significant portion of our loan portfolio is in the form of investor real estate loans which are subject to increased risks.
- Loans on properties in transition will involve a greater risk of loss than traditional investment-grade mortgage loans with fully insured borrowers.
- Any costs or delays involved in the completion of a foreclosure or liquidation of the underlying property may further reduce proceeds from the property and may increase the loss.
- Insurance on collateral underlying mortgage loans and real estate securities may not cover all losses.
- We may be subject to lender liability claims, and if we are held liable under such claims, we could be subject to losses.
- Our portfolio of assets may at times be concentrated in certain property types or secured by properties concentrated in a limited number of geographic areas, which increases our exposure to economic downturn and natural disasters, including disruptions related to epidemics, with respect to those property types or geographic locations.
- The investor real estate loans we originate or acquire are dependent on the ability of the property owner to generate net income from operating the property, which may result in the inability of such property owner to repay a loan, as well as the risk of foreclosure.
- We may be exposed to environmental liabilities with respect to properties to which we take title, which may in turn decrease the value of the underlying properties.
- We may be required to repurchase or substitute mortgage loans or indemnify investors if we breach representations and warranties, which could harm our business, cash flow, results of operations and financial condition.
- Some of our portfolio assets may be recorded at fair value as estimated by management and may not reflect the price we could realize upon disposal.
- Risks Related to Our Organization and Structure
- For so long as Snow Phipps Group and TOBI continue to own a substantial amount of our outstanding common stock, they will have the ability to substantially influence us.
- Our restated certificate of incorporation provides that our directors who are affiliates of Snow Phipps Group and TOBI may engage in similar activities and lines of business as us, which may result in competition between us and such stockholders or another portfolio company of such stockholders for certain corporate opportunities.
- Some provisions of Delaware law and our organizational documents may deter third parties from acquiring us and may diminish the value of our common stock.
- Failure to comply with requirements to design, implement and maintain effective internal controls, as well as a failure to remediate any identified weaknesses in our internal controls, could have a material adverse effect on our reputation, business and stock price.
- Our restated certificate of incorporation provides, subject to limited exceptions, that the Court of Chancery of the State of Delaware and the federal district courts of the United States of America will be the sole and exclusive forums for certain stockholder litigation matters, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers, employees or stockholders.
- Our Board is authorized to issue and designate shares of our preferred stock in additional series without stockholder approval.
- Risks Relating to Regulatory Matters
- The increasing number of proposed United States federal, state and local laws may affect certain mortgage- related assets in which we intend to invest and could materially increase our cost of doing business.
- The securitization process is subject to an evolving regulatory environment that may affect certain aspects of our current business.
- We are subject to state licensing and operational requirements in certain states that may result in substantial compliance costs.
- Maintenance of our 1940 Act exemption imposes limits on our operations, which may adversely affect our operations.
- If we fail to comply with laws, regulations and market standards regarding the privacy, use, and security of customer and other regulated information, or if we are the target of a successful cyberattack or other security incident, we may be subject to legal and regulatory actions and our reputation would be harmed.
- We may be subject to liability for potential violations of predatory lending laws, which could adversely impact our business, results of operations and financial condition.
- Risks Related to Sources of Financing
- We may not be able to successfully complete additional securitization transactions on attractive terms or at all, which could limit potential future sources of financing and could inhibit the growth of our business.
- If one or more of our warehouse facilities on which we are dependent are terminated, we may be unable to find replacement financing on favorable terms on a timely basis, or at all, which would have a material adverse effect on our business, results of operations and financial condition.
- We may be required to maintain certain levels of collateral or provide additional collateral under our warehouse facilities, which may restrict us from leveraging our assets as fully as desired or forcing us to sell assets under adverse market conditions, resulting in potentially lower returns.
- If a counterparty to our repurchase transactions defaults on its obligation to resell the underlying asset back to us at the end of the transaction term, or if the value of the underlying asset has declined as of the end of that term, or if we default on our obligations under the repurchase agreement, we will lose money on our repurchase transactions.
- Our substantial indebtedness could adversely affect our financial condition and impair our ability to operate our business.
- Interest rate fluctuations could negatively impact our net interest income, cash flows and the market value of our investments.
- Interest rate mismatches between our loans and our borrowings used to fund our portfolio may reduce our income during periods of changing interest rates.
- Interest rate caps on our ARMs may reduce our income or cause us to suffer a loss during periods of rising interest rates.
- Our existing and future financing arrangements and any debt securities we may issue could restrict our operations and expose us to additional risk.
- Risks Related to Ownership of Our Common Stock
- The trading and price of our common stock has been and may continue to be volatile, which could result in substantial losses for purchasers of our common stock.
- We have incurred increased costs as a result of being a public company.
- Future offerings of debt securities, which would rank senior to our common stock upon our liquidation, and future offerings of equity securities, which would dilute our existing stockholders and may be senior to our common stock for the purposes of dividend and liquidating distributions, may adversely affect the market price of our common stock.
- Future sales of shares of our common stock, including by our existing stockholders, could depress the market price of our shares.
- We have not historically paid dividends on our common stock and, as a result, your only opportunity to achieve a return on your investment may be if the price of our common stock appreciates.
- If securities analysts do not publish research or reports about our business or if they downgrade our stock or our core market, our stock price and trading volume could decline.
Legal proceedings
From time to time, in the ordinary course of business, we are involved in various judicial, regulatory or administrative claims, proceedings and investigations. These proceedings and actions may include, among other things, allegations of violation of banking and other applicable regulations, competition law, labor laws and consumer protection laws, as well as claims or litigation relating to intellectual property, securities, breach of contract and tort. We intend to defend ourselves vigorously against any pending or future judicial, regulatory or administrative claims or proceedings. Although occasional adverse decisions or settlements may occur, our management does not believe that the final disposition of any currently pending or threatened matter will have a material adverse effect on our business, financial position, results of operations or cash flows.
The opening of Item 3, Legal Proceedings.4
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 16SEC EDGARFiona Tam, Chief Accounting Officer
- 17
- 18SEC EDGARGraham M. Comley, Officer
- 19SEC EDGARJeffrey T. Taylor, Officer
- 20SEC EDGARJoseph A. Cowell, Officer
- 21SEC EDGAROmar Maasarani, Board member
- 22SEC EDGARMichael Chiao, Board member
- 23SEC EDGARKatherine Verner, Board member
- 24SEC EDGARAlan H. Mantel, Board member
- 25SEC EDGARDaniel Ballen, Board member
- 26SEC EDGARIan K. Snow, Board member
- 27SEC EDGARJohn A. Pless, Board member
- 28SEC EDGARJohn Pitstick, Board member
- 29SEC EDGARJoy L. Schaefer, Board member
- 30SEC EDGARDorika M. Beckett, Board member
- 31SEC EDGARRoland Thomas Kelly, General counsel
- 32
- 33SEC EDGARResults of operations
- 34SEC EDGARRegulation FD disclosure
- 35SEC EDGARShareholder vote
- 36SEC EDGARRegulation FD disclosure
- 37SEC EDGARResults of operations
- 38SEC EDGARResults of operations
- 39SEC EDGARRegulation FD disclosure
- 40
- 41
- 42SEC EDGARResults of operations; Other events
- 43SEC EDGARExecutive or director change
- 44NasdaqNasdaq calendar
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