Earnings Call Summary | Velocity Financial(VEL.US) Q1 2024 Earnings Conference
Earnings Call Summary | Velocity Financial(VEL.US) Q1 2024 Earnings Conference
The following is a summary of the Velocity Financial, Inc. (VEL) Q1 2024 Earnings Call Transcript:
以下是Velocity Financial, Inc.(VEL)2024年第一季度财报电话会议记录摘要:
Financial Performance:
财务业绩:
Velocity reported Q1 loan origination volumes 75% higher than the previous year.
The company reported a core EPS of $0.51 per share, a significant high for the company, primarily driven by the fair value gains from new originations and net interest margin from the portfolio.
The April securitization deal further attracted 27 different investors, indicating improved market sentiment.
A strategic placement of $75 million in new corporate debt was made in February to increase the portfolio to $5 billion in UPB by 2025.
Through effective management, Velocity managed to reduce its nonperforming loan rate to 10.1% by the end of Q1.
Velocity's total liquidity at the end of Q1 was nearly $79 million, sustaining a healthy liquidity level.
Velocity报告称,第一季度的贷款发放量比上年增长了75%。
该公司公布的核心每股收益为0.51美元,这是该公司的显著高点,这主要是由新发放的公允价值收益和投资组合的净利润率推动的。
4月份的证券化交易进一步吸引了27名不同的投资者,这表明市场情绪有所改善。
2月份战略性发行了7500万美元的新公司债券,到2025年将UPB的投资组合增加到50亿美元。
通过有效的管理,Velocity设法在第一季度末将其不良贷款利率降低至10.1%。
Velocity在第一季度末的总流动性接近7,900万美元,维持了健康的流动性水平。
Business Progress:
业务进展:
Velocity has managed to increase Q1 Originations owing to banks pulling back; this strategic decision has stimulated increased activity in its lending segment across the US.
In April, the company set a new record by issuing $2 billion worth of LOIs and having the most new applications in over two years.
The pipeline of Velocity remains robust with nearly $400 million in combined UPB, implying stable future prospects.
To continue driving earnings growth and shareholder value, Velocity plans to retain earnings, grow book value, and redeploy capital into high-returning assets.
由于银行撤资,Velocity设法增加了第一季度的发放额;这一战略决策刺激了其在美国各地贷款领域的活动增加。
4月,该公司发行了价值20亿美元的LOI,创下了两年多以来新申请最多的记录。
Velocity的产品线仍然强劲,合并后的UPB将近4亿美元,这意味着未来的前景稳定。
为了继续推动收益增长和股东价值,Velocity计划保留收益,增加账面价值,并将资本重新部署到高回报资产中。
More details: Velocity Financial IR
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