Operator: Good day, and welcome to the Velocity Financial Incorporated First Quarter 2024 Earnings Conference Call. All participants will be in a listen-only mode.
Velocity Financial, Inc. (NYSE:VEL) Q4 2023 Earnings Call Transcript March 8, 2024 Velocity Financial, Inc. isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here). Operator: Good day, and welcome to Velocity Financial’s Fourth Quarter Conference Call. [Operator Instructions] Please note this event […]
Velocity Financial, Inc. (NYSE:VEL) Q3 2023 Earnings Call Transcript November 5, 2023 Operator: Good day and welcome to the Velocity Financial Q3 2023 Conference Call. All participants will be in a listen-only mode. [Operator Instructions] Please note, this event is being recorded. I would now like to turn the conference over to Mr. Chris Oltmann. […]
Operator: Good afternoon, everyone, and welcome to the Velocity Financial, Incorporated Q4 2022 Conference Call. For your information, today s conference call is being recorded.
Velocity Financial Inc. has fresh money to make new mortgage loans.
The Westlake Village mortgage lender announced it has entered a $200 million warehouse facility with Barclays Bank to finance new loan originations. The facility is non-mark-to-market, which means its terms don’t adjust with market interest rates.
Velocity also entered a $175 million, five-year term loan with a syndicate of lenders including funds managed by Blackrock’s U.S. Private Capital group, Oaktree Capital Management and UBS O’Connor. That facility has an initial fund of $125 million with another $50 million available as a delayed draw. It will be used for new loan originations as well as debt refinancing.