Velocity Financial, a mortgage lender focused on residential rental and small commercial properties, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
The Westlake Village, CA-based company was founded in 2004 and booked $55 million in revenue for the 12 months ended June 30, 2019. It plans to list on the NYSE under the symbol VEL. Velocity Financial filed confidentially on December 17, 2018. Wells Fargo Securities, Citi and JMP Securities are the joint bookrunners on the deal. No pricing terms were disclosed.
