Velocity Financial (Velocity Financial) Allowance For Loans And Lease Losses : $-4.8 Mil (As of Dec. 2023)

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What is Velocity Financial Allowance For Loans And Lease Losses?

Velocity Financial's Allowance For Loans And Lease Losses for the quarter that ended in Dec. 2023 was $-4.8 Mil.

Velocity Financial's quarterly Allowance For Loans And Lease Losses declined from Jun. 2023 ($-4.6 Mil) to Sep. 2023 ($-4.7 Mil) and declined from Sep. 2023 ($-4.7 Mil) to Dec. 2023 ($-4.8 Mil).

Velocity Financial's annual Allowance For Loans And Lease Losses declined from Dec. 2021 ($-4.3 Mil) to Dec. 2022 ($-4.9 Mil) but then increased from Dec. 2022 ($-4.9 Mil) to Dec. 2023 ($-4.8 Mil).

Velocity Financial Allowance For Loans And Lease Losses Historical Data

The historical data trend for Velocity Financial's Allowance For Loans And Lease Losses can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Velocity Financial Allowance For Loans And Lease Losses Chart

Velocity Financial Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Allowance For Loans And Lease Losses

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-2.24

-5.85

-4.26

-4.89

-4.77

Velocity Financial Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Allowance For Loans And Lease Losses	Get a 7-Day Free Trial															-4.89	-5.05	-4.63	-4.69	-4.77

Velocity Financial Allowance For Loans And Lease Losses Calculation

Allowance For Loans And Lease Losses is a contra account sets aside as an allowance for bad loans.

Velocity Financial Allowance For Loans And Lease Losses Related Terms

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Velocity Financial (Velocity Financial) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Velocity Financial Inc (NYSE:VEL) » Definitions » Allowance For Loans And Lease Losses

Comparable Companies

Traded in Other Exchanges

N/A

Address

30699 Russell Ranch Road, Suite 295, Westlake Village, CA, USA, 91362

Website

https://www.velfinance.com

Velocity Financial Inc is a United States-based real estate finance company. The company primarily originates and manages investor loans secured by 1-4 unit residential rental and small commercial properties. The company earns revenue in the form of interest income. It operates in New York, California, Florida, New Jersey, and other states.

Executives

Omar Maasarani	director	C/O PIMCO, 650 NEWPORT CENTER DRIVE, NEWPORT BEACH CA 92660
John Pitstick	director	30699 RUSSELL RANCH ROAD, SUITE 250, WESTLAKE VILLAGE CA 91362
Fiona Tam	officer: Chief Accounting Officer	30699 RUSSELL RANCH RD, STE. 295, WESTLAKE VILLAGE CA 91362
Lvs Iii Holding Lp	director, 10 percent owner	C/O PACIFIC INVESTMENT MGMT. COMPANY LLC, 650 NEWPORT CENTER DRIVE, NEWPORT BEACH CA 92600
Tobi Iii Spe I Llc	director, 10 percent owner	C/O PACIFIC INVESTMENT MGMT. COMPANY LLC, 650 NEWPORT CENTER DRIVE, NEWPORT BEACH CA 92600
Pacific Investment Management Co Llc	director, 10 percent owner	650 NEWPORT CENTER DRIVE, NEWPORT BEACH CA 92660
Katherine Verner	director	C/O PIMCO, 650 NEWPORT CENTER DRIVE, NEWPORT BEACH CA 92660
Michael Chiao	director	650 NEWPORT CENTER DRIVE, NEWPORT BEACH CA 92600
Roland Thomas Kelly	officer: General Counsel	1551 CALLE PATRICIA, PACIFIC PALISADES CA 90272
Jeffrey T. Taylor	officer: See Remarks	30699 RUSSELL RANCH ROAD, SUITE 295, WESTLAKE VILLAGE CA 91362
Christopher D. Farrar	director, officer: Chief Executive Officer	30699 RUSSELL RANCH ROAD, SUITE 295, WESTLAKE VILLAGE CA 91362
Dorika M Beckett	director	30699 RUSSELL RANCH ROAD, SUITE 295, WESTLAKE VILLAGE CA 91362
Mark R Szczepaniak	officer: Chief Financial Officer	C/O VELOCITY FINANCIAL, 30699 RUSSELL RANCH ROAD, SUITE 295, WESTLAKE VILLAGE CA 91362
Christopher J Oltmann	officer: Chief Accounting Officer	C/O VELOCITY FINANCIAL, 30699 RUSSELL RANCH ROAD, SUITE 295, WESTLAKE VILLAGE CA 91362
Graham M Comley	officer: See Remarks	C/O VELOCITY FINANCIAL, 30699 RUSSELL RANCH ROAD, SUITE 295, WESTLAKE VILLAGE CA 91362