Velocity Financial Announces Closing Of $265 Million Securitization; Sixteenth Securitization Since 2011
Velocity Financial Announces Closing Of $265 Million Securitization; Sixteenth Securitization Since 2011
05/17/21, 12:36 PM
Location
westlake villageVelocity Financial, Inc. (NYSE: VEL), ("Velocity" or the "Company"), a leading provider of small balance investor loans, today announced that it has closed its first securitization transaction of 2021, in aggregate $265 million of Mortgage-Backed Certificates, series 2021-1 (the "Certificates") backed by a portfolio of loans recently originated through Velocity's operating platform. The sold Certificates will be issued in seven classes and were priced with a weighted average fixed rate of 1.735%.
Company Info
Location
westlake village, california, united states
Additional Info
Based in Westlake Village, California, Velocity is a vertically integrated real estate finance company that 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 it has built and refined over 16 years. For additional information, please visit the Company’s investor relations website at www.velfinance.com.