Velocity Financial, Inc.
For the period ended Mar 31, 2026. Filed May 7, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 7, 2026
VEL$17.65+0.1%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
(In thousands, except share data)
| March 31, 2026 | December 31, 2025 | |
|---|---|---|
| (Unaudited) | ||
| ASSETS | ||
| Cash and cash equivalents | $87,054 | $92,103 |
| Restricted cash | 24,996 | 157,134 |
| Loans held for investment, at amortized cost (net of allowance for credit losses of $4,860 and $4,521 as of March 31, 2026 and December 31, 2025, respectively) | 1,951,030 | 2,028,262 |
| Loans held for investment, at fair value | 5,154,508 | 4,729,869 |
| Total loans, net | 7,105,538 | 6,758,131 |
| Accrued interest receivables | 51,259 | 49,678 |
| Receivables due from servicers | 142,354 | 150,902 |
| Other receivables | 2,690 | 1,897 |
| Real estate owned, net | 131,849 | 118,289 |
| Property and equipment, net | 1,324 | 1,415 |
| Deferred tax asset, net | 18,462 | 22,709 |
| Mortgage servicing rights, at fair value | 12,645 | 12,963 |
| Derivative assets | 464 | 66 |
| Goodwill | 6,775 | 6,775 |
| Other assets | 6,033 | 9,451 |
| Total assets | $7,591,443 | $7,381,513 |
| LIABILITIES | ||
| Accounts payable and accrued expenses | $173,076 | $168,314 |
| Secured financing, net | 73,274 | 286,679 |
| Unsecured senior notes, net | 485,445 | - |
| Securitized debt, at amortized cost | 1,638,995 | 1,705,589 |
| Securitized debt, at fair value | 4,426,240 | 4,236,737 |
| Warehouse and repurchase facilities, net | 98,009 | 308,506 |
| Total liabilities | 6,895,039 | 6,705,825 |
| Commitments and contingencies | ||
| EQUITY | ||
| Common stock ($0.01 par value, 100,000,000 shares authorized; 40,071,992 and 39,573,657 shares issued, 39,235,281 and 38,965,317 shares outstanding as of March 31, 2026 and December 31, 2025, respectively) | 403 | 398 |
| Additional paid-in capital | 385,254 | 382,564 |
| Retained earnings | 324,742 | 302,379 |
| Treasury stock, at cost (836,711 and 608,340 common shares as of March 31, 2026 and December 31, 2025, respectively) | (14,741) | (10,204) |
| Accumulated other comprehensive loss | (2,310) | (2,602) |
| Total Velocity Financial, Inc. stockholders' equity | 693,348 | 672,535 |
| Noncontrolling interest in subsidiary | 3,056 | 3,153 |
| Total equity | 696,404 | 675,688 |
| Total liabilities and equity | $7,591,443 | $7,381,513 |
CONSOLIDATED BALANCE SHEETS (CONTINUED)
The following table represents the assets and liabilities of consolidated variable interest entities:
| March 31, 2026 | December 31, 2025 | |
|---|---|---|
| (Unaudited) | ||
| ASSETS | ||
| Restricted cash | $15,489 | $151,827 |
| Loans held for investment, at amortized cost | 1,947,390 | 2,023,030 |
| Loans held for investment, at fair value | 4,652,149 | 4,273,757 |
| Accrued interest and other receivables | 185,712 | 191,313 |
| Real estate owned, net | 115,316 | 114,485 |
| Deferred tax asset | 1,066 | 1,085 |
| Other assets | 3 | 5 |
| Total assets | $6,917,125 | $6,755,502 |
| LIABILITIES | ||
| Accounts payable and accrued expenses | $125,482 | $120,691 |
| Securitized debt | 6,065,235 | 5,942,326 |
| Total liabilities | $6,190,717 | $6,063,017 |
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