Velocity Financial Reports Record Q3 2026 Loan Production and Portfolio Growth
Velocity Financial (VEL) reported strong third-quarter 2026 results, highlighted by record loan production of $911.3 million, a 35% increase from the previous quarter. The company's total loan portfolio grew to $7.5 billion, representing an 18.8% year-over-year increase. Core diluted earnings per share reached $0.76, marking one of the highest quarterly results in the company's history. Financial performance was bolstered by a rising net interest margin (NIM) of 3.78% and a decrease in the cost of funds. While nonperforming loans saw a slight year-over-year increase to 10.1%, management noted effective collection efforts with recovery gains exceeding unpaid principal balances. Looking ahead, the company expects its acquisition of Toorak to close by year-end 2026, which is intended to diversify its product mix and expand its presence into the U.K. market.
Tickers: $VEL
Topics: EPS loan production net interest margin nonperforming loans
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