Velocity financial, inc. reports first quarter 2024 results

Westlake village, calif.--(business wire)--velocity financial, inc. (nyse: vel) (velocity or the company), a leader in business purpose loans, reported net income of $17.3 million and core net income of $18.2 million for 1q24, compared to net income of $10.6 million and core net income of $11.4 million for 1q23. earnings and core earnings per diluted share were $0.49 and $0.51, respectively, for 1q24, compared to $0.31 and $0.33 for 1q23. “velocity began 2024 with another quarter of strong prod.
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