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Velocity Financial, LLC (VEL)

Sector - Financials

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Company News

IPO Profile

About company

They are a vertically integrated real estate finance company founded in 2004. They primarily originate and manage investor loans secured by 1-4 unit residential rental and small commercial properties, which they refer to collectively as investor real estate loans. They originate loans nationwide across their extensive network of independent mortgage brokers which they have built and refined over the 15 years since their inception. Their objective is to be the preferred and one of the most recognized brands in their core market, particularly within their network of mortgage brokers. They operate in a large and highly fragmented market with substantial demand for financing and limited supply of institutional financing alternatives. They offer competitive pricing to their borrowers by pursuing low-cost financing strategies and by driving front-end process efficiencies through customized technology designed to control the cost of originating a loan. Furthermore, by originating loans through their efficient and scalable network of approved mortgage brokers, they are able to maintain a wide geographical presence and nimble operating infrastructure capable of reacting quickly to changing market environments.
Industry
FINANCE SERVICES
CEO CFO
Christopher D. Farrar Mark R. Szczepaniak
Employees Founded
259 2004

Contacts

Address: 30699 Russell Ranch Road, Suite 295, Westlake Village, CA 91362, US

Telephone: (818) 532-3700.

Web page: http://www.velocitymortgage.com

IPO information

Expected Date 1/17/2020
Status Priced
Exchange NYSE
Lockup Period Expiration .Pro
Quiet Period Expiration .Pro
Old Price Range
-
Share prices ($)

Financial Data (last reporting year)

Market Cap (MM) $285.0
Revenues (MM) $147
Net Income (Loss) (MM) $14.1

Voting

What do you think will happen with the VEL share price after the next 3-6 months? 🔥 (+ 10% or more, flat (+ -10%), -10% or less)

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Shares Initial (MM) 7.3
Shares Revised (MM) 7.25
Expected offer amount (MM) $108.75
Realized offer amount(MM) $94.25
Underwriters
Wells Fargo/ Citigroup/ JMP Securities
CO-Managers
Raymond James

Sector: Financials

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