Velocity Financial, Inc. (NYSE:VEL) (“Velocity” or “Company”), filed its fourth quarter and full year 2023 results on March 7, 2024. It has recently come to management’s attention that the earnings release contained a typographical error.
The ninth bullet under Fourth Quarter Highlights stated:
- Non-recourse debt to equity ratio of 1.2 times
The ninth bullet, as corrected, should read as follows:
- Recourse debt to equity ratio of 1.2 times
About Velocity Financial, Inc.
Based in Westlake Village, California, Velocity is a vertically integrated real estate finance company that primarily originates and manages investor loans secured by 1-4-unit residential rental and small commercial properties. Velocity originates loans nationwide across an extensive network of independent mortgage brokers built and refined over 19 years.
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