Velocity Financial reports strong third-quarter earnings

Westlake Village-based Velocity Financial, a leader in business purpose loans, reported net income of $26.4 million and core net income of $30.0 million for the third quarter of 2026, up from $25.4 million and $26.9 million, respectively, in the third quarter of 2025. Earnings and core earnings per diluted share were 67 cents and 76 cents for the third quarter of 2026, compared to 65 cents per share and 69 cents per share, respectively, for the third quarter of 2025. Net revenue was $102.1 million, an increase of 19.1% from $85.8 million in the same quarter a year ago, thanks to continued strong production-driven portfolio net interest income growth and fair value gains. Additionally, the company’s total loan portfolio was $7.5 billion as of Sept. 30, an increase of 18.8% from $6.3 billion as of Sept. 30, 2025. Loan production totaled $911.3 million, including construction loan advances of $7 million, an increase from $739 million in the third quarter of 2025.

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