Velocity Financial, Inc. (VEL): ANSOFF MATRIX ANÁLISE [JAN-2025 Atualizado]

No mundo dinâmico dos serviços financeiros, a Velocity Financial, Inc. (VEL) está pronta para redefinir o crescimento estratégico por meio de uma abordagem abrangente de quatro vezes que promete revolucionar empréstimos imobiliários comerciais. Ao elaborar meticulosamente estratégias em toda a penetração do mercado, desenvolvimento de mercado, inovação de produtos e diversificação estratégica, a VEL não está apenas se adaptando ao cenário financeiro - está remodelando -a ativamente. Esse plano ousado revela como a empresa planeja alavancar tecnologias de ponta, explorar mercados inexplorados e criar soluções financeiras transformadoras que possam definir novos benchmarks da indústria.

Velocity Financial, Inc. (VEL) - ANSOFF MATRIX: Penetração de mercado

Expanda os serviços de empréstimos diretos para clientes imobiliários comerciais existentes

A carteira de empréstimos imobiliários comercial da Velocity Financial foi de US $ 487,3 milhões no quarto trimestre 2022. A taxa de retenção de clientes atual é de 92,4%. Potencial de expansão de empréstimos para o cliente existente estimado em US $ 78,6 milhões.

Categoria de empréstimo	Portfólio atual	Potencial de expansão
Multifamiliar	US $ 214,5 milhões	US $ 36,2 milhões
Propriedades do escritório	US $ 172,8 milhões	US $ 24,9 milhões
Espaços de varejo	US $ 99,0 milhões	US $ 17,5 milhões

Aumentar a venda cruzada de produtos financeiros

Taxa atual de penetração do produto: 1,7 produtos por cliente. Alvo: 2,3 produtos por cliente até o final de 2023.

• Produtos de empréstimos existentes: 6 instrumentos financeiros diferentes
• Receita adicional média por produto de venda cruzada: US $ 24.500
• Aumento da receita de venda cruzada projetada: US $ 17,3 milhões

Implementar campanhas de marketing digital direcionadas

Orçamento de marketing digital: US $ 2,4 milhões para 2023. Custo esperado de aquisição de clientes: US $ 1.875 por novo cliente comercial.

Canal de marketing	Alocação de orçamento	Novos clientes esperados
Publicidade do LinkedIn	$875,000	468 novos clientes
Google anúncios direcionados	$650,000	352 novos clientes
Webinars da indústria	$375,000	214 novos clientes

Aprimore os programas de retenção de clientes

As taxas de juros atuais para empréstimos imobiliários comerciais variam de 6,75% a 8,25%. A estratégia de retenção de taxas competitiva tem como objetivo reduzir a rotatividade de clientes em 40%.

Otimize a eficiência operacional

Custo operacional atual por empréstimo: US $ 4.250. Redução do alvo: 22% através da automação de processos digitais. Economia anual projetada: US $ 3,6 milhões.

Métricas de eficiência operacional	Status atual	Melhoria do alvo
Tempo de processamento de empréstimo	14 dias	8 dias
Custo por empréstimo	$4,250	$3,315
Taxa de automação digital	62%	85%

Velocity Financial, Inc. (VEL) - ANSOFF MATRIX: Desenvolvimento de mercado

Explore oportunidades de empréstimos em novas regiões geográficas

A Velocity Financial identificou 37 novas áreas estatísticas metropolitanas (MSAs) para potencial expansão do mercado em 2022. A empresa projetou US $ 214 milhões em possíveis origens de empréstimos nessas novas regiões.

Região	Volume potencial de empréstimo	Meta de penetração de mercado
Região sudoeste	US $ 62,3 milhões	15.7%
Mountain West	US $ 48,5 milhões	12.2%
Noroeste do Pacífico	US $ 41,7 milhões	10.9%

Indústrias emergentes -alvo com financiamento imobiliário comercial especializado

A velocidade financeira alocou US $ 87,6 milhões para empréstimos especializados em setores emergentes durante 2022.

• Financiamento do data center: US $ 32,4 milhões
• Infraestrutura de energia renovável: US $ 27,9 milhões
• Real Estate Sciences: US $ 21,3 milhões
• Desenvolvimento do campus de tecnologia: US $ 6 milhões

Desenvolva parcerias estratégicas com bancos regionais e instituições financeiras

Em 2022, a Velocity Financial estabeleceu 14 novas parcerias estratégicas, representando possíveis redes de referência de empréstimos, totalizando US $ 456 milhões.

Tipo de parceiro	Número de parcerias	Volume potencial de referência de empréstimo
Bancos regionais	8	US $ 276 milhões
Cooperativas de crédito	4	US $ 112 milhões
Instituições Financeiras Comunitárias	2	US $ 68 milhões

Expandir plataformas de empréstimos digitais

Os investimentos em plataforma digital atingiram US $ 4,2 milhões em 2022, com aumento de 67% nas solicitações de empréstimos on -line.

• Usuários de aplicativos móveis: 42.000
• Taxa de originação de empréstimos on -line: 38%
• Tempo médio de processamento de empréstimo digital: 4,3 dias

Adaptar as ofertas de produtos às necessidades regionais de desenvolvimento econômico

A Velocity Financial desenvolveu 6 novos produtos de empréstimos especializados que visam requisitos econômicos regionais específicos.

Tipo de produto	Região -alvo	Volume de empréstimo
Empréstimo de recuperação de pequenas empresas	Centro -Oeste	US $ 22,7 milhões
Financiamento de reconstrução urbana	Nordeste	US $ 18,3 milhões
Empréstimo de infraestrutura rural	Sudeste	US $ 15,6 milhões

Velocity Financial, Inc. (VEL) - ANSOFF MATRIX: Desenvolvimento de produtos

Opções inovadoras de financiamento verde para propriedades comerciais sustentáveis

Em 2022, a Velocity Financial alocou US $ 127 milhões para o financiamento imobiliário comercial verde. A empresa relatou um aumento de 42% nas aprovações de empréstimos a propriedades sustentáveis ​​em comparação com o ano anterior.

Segmento de financiamento verde	Valor do investimento	Taxa de crescimento
Edifícios comerciais movidos a energia solar	US $ 45,3 milhões	27% A / A.
Empréstimos de retrofit com eficiência energética	US $ 38,6 milhões	35% A / A.
Financiamento imobiliário certificado LEED	US $ 43,1 milhões	49% A / A.

Soluções de empréstimo orientadas a tecnologia

A Velocity Financial investiu US $ 18,7 milhões em infraestrutura de empréstimos digitais em 2022, reduzindo o tempo de aprovação do empréstimo em 63%.

• O tempo médio de aprovação de empréstimo reduziu de 14 dias para 5,2 dias
• Taxa de conclusão de aplicativos digitais: 87%
• Uso do pedido de empréstimo móvel: 72% do total de pedidos

Produtos financeiros personalizados para setores imobiliários comerciais de nicho

A empresa desenvolveu 7 produtos de empréstimos especializados direcionando segmentos imobiliários comerciais específicos, gerando US $ 92,4 milhões em novos fluxos de receita.

Setor de nicho	Produto de empréstimo	Volume total de empréstimos
Propriedades do data center	Empréstimo de infraestrutura técnica	US $ 34,2 milhões
Edifícios de consultórios médicos	Financiamento da instalação de saúde	US $ 28,6 milhões
Armazéns de logística	Empréstimo logístico de comércio eletrônico	US $ 29,6 milhões

Ferramentas de avaliação de risco movidas pela IA

Velocity Financial implantado Tecnologia de avaliação de risco de IA com investimento de US $ 22,5 milhões, melhorando a precisão da previsão de inadimplência em empréstimos em 41%.

• Modelo de aprendizado de máquina Precisão: 94,3%
• Tempo de avaliação de risco reduzido em 67%
• Pontuação preditiva de risco implementada em 100% dos pedidos de empréstimo

Estruturas de empréstimos flexíveis

A empresa introduziu 5 novas estruturas flexíveis de empréstimos, resultando em um aumento de 38% no volume de originação de empréstimos.

Tipo de estrutura de empréstimo	Taxa de adoção	Tamanho médio do empréstimo
Planos de pagamento escaláveis	62%	US $ 2,7 milhões
Taxas híbridas de variável fixa	48%	US $ 3,2 milhões
Comprimentos de termo personalizáveis	55%	US $ 2,9 milhões

Velocity Financial, Inc. (VEL) - Matriz Anoff: Diversificação

Invista em startups de fintech para expandir as capacidades tecnológicas

A Velocity Financial alocou US $ 12,7 milhões para investimentos em startups da Fintech em 2022. A Companhia identificou 17 parceiros de tecnologia em potencial com recursos avançados de IA e blockchain.

Categoria de investimento	Valor investido	Número de startups
Tecnologias financeiras da IA	US $ 5,3 milhões	7 startups
Soluções blockchain	US $ 4,2 milhões	5 startups
Plataformas de segurança cibernética	US $ 3,2 milhões	5 startups

Digite mercados alternativos de investimento, como infraestrutura de energia renovável

A Velocity Financial comprometeu US $ 45 milhões a investimentos de infraestrutura de energia renovável em 2022, visando projetos de energia solar e eólica.

• Investimentos de projeto solar: US $ 24,6 milhões
• Investimentos de energia eólica: US $ 20,4 milhões

Desenvolva plataformas de investimento em private equity para imóveis comerciais

A empresa lançou um fundo de private equity de US $ 75 milhões direcionando especificamente oportunidades de imóveis comerciais em 2022.

Setor imobiliário	Alocação de investimento	Retorno esperado
Espaços de escritório	US $ 32 milhões	7.2%
Armazéns industriais	US $ 28 milhões	6.9%
Complexos de varejo	US $ 15 milhões	6.5%

Crie serviços de gerenciamento de patrimônio que complementam operações de empréstimos existentes

Velocity Financial expandiu os serviços de gerenciamento de patrimônio com US $ 22,5 milhões dedicados ao desenvolvimento de plataformas e contratação de 43 consultores financeiros especializados.

• Limite mínimo de investimento: US $ 250.000
• Tamanho médio do portfólio de clientes: US $ 1,7 milhão

Explore mercados internacionais com ofertas exclusivas de serviços financeiros

A empresa identificou 6 mercados internacionais para expansão, com um investimento inicial de US $ 18,3 milhões.

Mercado -alvo	Valor do investimento	Foco principal do serviço
Cingapura	US $ 5,6 milhões	Banco digital
Emirados Árabes Unidos	US $ 4,9 milhões	Plataformas de investimento
Reino Unido	US $ 4,2 milhões	Gestão de patrimônio
Canadá	US $ 3,6 milhões	Serviços de empréstimos

Velocity Financial, Inc. (VEL) - Ansoff Matrix: Market Penetration

You're looking at how Velocity Financial, Inc. (VEL) can gain more share within its existing markets, which is the essence of Market Penetration. This strategy relies on selling more of the current product-business purpose loans-to the current customer base, which includes real estate investors and the brokers who serve them. The numbers from the third quarter of 2025 show strong momentum already in place.

The push here is to capture a greater percentage of the addressable market by optimizing every channel. For instance, the goal is to increase loan origination volume by a specific target of 15% in core states. This builds upon the already record-setting pace; Q3 2025 loan production hit $739.0 million in unpaid principal balance (UPB), a 55.0% increase from Q3 2024. The total loan portfolio grew to $6.3 billion in UPB as of September 30, 2025, marking a 32.0% increase year-over-year.

To drive higher deal flow, optimizing broker incentive programs is key. Velocity Financial, Inc. (VEL) already supports a large origination channel, serving over 2500 independent mortgage brokers nationwide. The focus is on making the incentive structure more compelling to shift volume from competitors or increase frequency from existing partners.

Regarding pricing, the action involves slightly reducing the cost on specific loan types to win volume. For context on current pricing discipline, the weighted average coupon (WAC) on Held for Investment (HFI) loan production for Q1 2025 was 10.5%. The portfolio net interest margin (NIM) for Q3 2025 settled at 3.65%.

The remaining tactical elements focus on efficiency and lead generation:

• Enhance digital marketing to capture more direct borrower leads.
• Streamline the loan underwriting process to reduce closing times.

Here's a quick look at the recent operational scale that this penetration strategy is built upon:

Metric	Period Ending September 30, 2025	Period Ending September 30, 2024
Total Loan Portfolio (UPB)	$6.3 billion	$4.8 billion
Quarterly Loan Production (UPB)	$739.0 million	$476.8 million
Portfolio Net Interest Margin (NIM)	3.65%	3.60%
Total Available Warehouse Line Capacity	$600.3 million	Data not directly comparable/available
Liquidity	$143.5 million	Data not directly comparable/available

The success of these efforts is also reflected in the earnings power generated from this volume. Net income for Q3 2025 reached $25.4 million, a 60.6% increase from Q3 2024, with core net income at $26.9 million.

To support the broker optimization, consider the recent production mix, which shows where volume is coming from:

• Traditional commercial loans increased 113.7% from 3Q24.
• Investor 1-4 rental loans increased 37.5% from 3Q24.

Finance: draft the projected impact of a 15% volume increase in core states on Q4 2025 revenue by next Tuesday.

Velocity Financial, Inc. (VEL) - Ansoff Matrix: Market Development

You're looking at expanding Velocity Financial, Inc. (VEL) into new geographic territories and targeting different investor classes with your existing loan products. This Market Development quadrant is about taking what you know-investor loans secured by 1-4 unit residential rental and small commercial properties-and applying it where the growth is hottest right now.

Enter five new high-growth Sun Belt states with existing loan products.

Velocity Financial, Inc. currently operates in New York, California, Florida, and New Jersey, so the immediate focus shifts to other high-momentum Sun Belt markets. Consider Texas, Arizona, Georgia, North Carolina, and Tennessee, which are leading the nation in job creation and net migration. The Sunbelt region's population is projected to see over 20 million new residents by 2030, with metro areas showing 5-7% annual population growth over the past five years. This influx directly translates to demand for the investor-owned rental properties you finance. Your existing loan products, which generated a record loan production of $739.0 million in Q3 2025, are perfectly positioned to capture this organic demand.

Target larger institutional real estate investors, not just individual sponsors.

Shifting focus means chasing larger checks. Institutional capital, including private-credit funds, is actively increasing its share of the U.S. commercial-mortgage market, gaining share in the first half of 2025. This is happening while an estimated record $957 billion in commercial real estate loans is set to mature in 2025, representing 20% of the $4.8 trillion in outstanding CRE mortgages. You'll be competing for the attention of these large players, who are looking to deploy capital into a market where average underwritten cap rates settled around 6.1% in Q1 2025. Velocity Financial, Inc.'s total loan portfolio stood at $6.3 billion in UPB as of September 30, 2025, but institutional targets could mean originating loans significantly larger than your current average size.

Launch a dedicated sales channel for the single-family rental (SFR) portfolio market.

The SFR market is definitely a sweet spot for this strategy. The demand for these properties is high due to migration and a tight single-family housing market. In key Sun Belt cities like Austin and Tampa, SFR vacancy rates remain under 5%. A dedicated channel allows you to speak the language of portfolio managers, who are looking for scale and standardization, not just single-asset financing. This focus supports your existing Investor 1-4 Rental loans segment, which comprised 51.4% of your total loan portfolio as of March 31, 2025.

Partner with national real estate investment trusts (REITs) for bulk loan purchases.

Partnering with REITs for bulk purchases is a direct path to moving significant loan volume off your books, which feeds your securitization pipeline-you already completed two in Q3 2025, including one for $457.5 million. REITs are heavily invested in the Sun Belt due to lower acquisition costs and high rental demand. This strategy leverages your ability to originate loans efficiently, as evidenced by your Q3 2025 loan production increase of 55.0% year-over-year. The broader CRE lending volume is projected to reach $583 billion in 2025, and securing a partnership could give Velocity Financial, Inc. a predictable slice of that activity.

Expand into smaller, secondary metropolitan statistical areas (MSAs).

While Dallas and Houston get the headlines, secondary MSAs in the Sun Belt, like Savannah or San Antonio, are drawing industrial investors looking for yield. For residential rental assets, these secondary markets often present better entry points. Data suggests Sunbelt multifamily cap rates can reach 5-7% in secondary markets, compared to 4-5% in Tier-1 metros. This higher yield potential on the underlying assets makes them attractive for your investor base and justifies expanding your origination footprint beyond the primary hubs where you currently operate.

Here's a quick look at the growth dynamics supporting this geographic push:

• Sunbelt population growth rate is projected at 2.7% average vs. 0.9% for coastal regions.
• Average Sunbelt home prices are 30-50% lower than coastal markets.
• Velocity Financial, Inc.'s portfolio grew 32.0% year-over-year to $6.3 billion by September 30, 2025.
• Your Q3 2025 Net Interest Margin (NIM) was 3.65%.
• Your total available warehouse line capacity stands at $600.3 million.

Metric	Velocity Financial, Inc. (Sep 30, 2025)	Sun Belt Metro Average (2025 Estimate)	Implication for Market Development
Total Loan Portfolio UPB	$6.3 billion	N/A	Scale to support larger institutional targets.
Portfolio Net Interest Margin (NIM)	3.65%	N/A	Demonstrates current pricing discipline.
Q3 2025 Loan Production (YoY Growth)	$739.0 million (55.0% increase)	N/A	Proven capacity to scale production quickly.
SFR Vacancy Rate (Target Cities Example)	N/A	Under 5% (Austin/Tampa)	Strong underlying rental market fundamentals.
Multifamily Cap Rate Potential	N/A	5%-7% (Secondary MSAs)	Higher potential yield for new market acquisitions.

The market is clearly moving toward the Sun Belt, and institutional capital is actively seeking deployment, especially in the SFR space. Finance: draft the initial target state penetration plan by the end of the month.

Velocity Financial, Inc. (VEL) - Ansoff Matrix: Product Development

You're looking at how Velocity Financial, Inc. can expand its offerings beyond its core Investor 1-4 rental and existing commercial loan base. This is about moving into new product territory, which requires capital deployment, but the foundation is strong. As of the third quarter of 2025, Velocity Financial, Inc. reported net income of $25.4 million and core net income of $26.9 million, showing significant profitability to fund these initiatives. The total loan portfolio stood at $6.3 billion in unpaid principal balance (UPB) as of September 30, 2025, marking a 32.0% increase year-over-year.

Here's a quick look at the financial context supporting this expansion strategy:

Metric	Value (As of Q3 2025)	Context
Total Loan Portfolio UPB	$6.3 billion	Portfolio size as of September 30, 2025.
Q3 2025 Net Income	$25.4 million	Net income for the three months ended September 30, 2025.
Q3 2025 Loan Production	$739.0 million	Record production volume for the quarter.
Portfolio LTV (Weighted Avg)	65.5%	Loan-to-value ratio for the entire portfolio as of September 30, 2025.
Q3 2025 Loan Servicing Expense	$7.7 million	Expense related to servicing activities for the quarter.

The Product Development quadrant of the Ansoff Matrix focuses on introducing new products to existing markets, or in this case, expanding the product suite for the current real estate investor customer base and adjacent lenders. The goal is to capture more wallet share and diversify revenue streams beyond pure origination and servicing of the existing portfolio.

The specific product development initiatives you are mapping out include:

• Introduce a new, higher-leverage fix-and-flip loan product for experienced sponsors.
• Develop a dedicated bridge loan for small commercial properties up to $5 million.
• Offer a loan servicing product to third-party non-QM lenders.
• Create a specialized debt product for Accessory Dwelling Unit (ADU) construction.
• Launch a subscription-based data service for real estate investors.

For the higher-leverage fix-and-flip product, you are targeting experienced sponsors. Velocity Financial, Inc.'s existing portfolio weighted average loan-to-value (LTV) ratio was 65.5% as of September 30, 2025, and the LTV for new HFI originations in Q3 was 62.8%. A higher-leverage product would move above these established risk parameters, likely targeting LTVs in the 75% to 80% range for a proven sponsor segment. This is a direct product extension into a higher-risk, potentially higher-yield space for a known customer type.

Developing a dedicated bridge loan for small commercial properties up to $5 million aligns with the strong performance in the Traditional Commercial loan segment, which saw a 113.7% year-over-year increase in production in Q3 2025. This product targets the smaller end of the commercial spectrum, which Velocity Financial, Inc. noted investors see considerable value in. The current total loan portfolio includes $640,005 thousand in Retail loans and $504,282 thousand in Office loans as of September 30, 2025, providing a base for understanding the small commercial market size Velocity Financial, Inc. is already touching.

Offering a loan servicing product to third-party non-QM lenders leverages existing infrastructure. Velocity Financial, Inc.'s loan servicing expense for Q3 2025 was $7.7 million, supporting a Held for Investment (HFI) portfolio of $6.3 billion UPB. This suggests a cost structure that could be scaled to service external loan pools, potentially generating fee income from third-party non-Qualified Mortgage (non-QM) lenders who need reliable back-office support.

The specialized debt product for Accessory Dwelling Unit (ADU) construction and the launch of a subscription-based data service represent entirely new revenue streams. While specific 2025 figures for these new ventures aren't yet reported, the company's strong liquidity position of $143.5 million as of September 30, 2025, and total available warehouse line capacity of $600.3 million provide the necessary financial cushion to invest in the development and initial marketing of these services. The successful execution of two securitizations in Q3 2025, totaling $648.4 million in securities issued ($190.9 million single counterparty plus $457.5 million VCC 2025-4), demonstrates capital markets access to fund growth initiatives.

Finance: draft 13-week cash view by Friday.

Velocity Financial, Inc. (VEL) - Ansoff Matrix: Diversification

Moving beyond the core business of real estate-secured lending requires assessing market opportunities where Velocity Financial, Inc. can deploy its capital and expertise. This diversification quadrant looks at new products in new markets, which is inherently the highest risk/reward path.

Acquire a small, established consumer finance platform outside of real estate.

Acquiring an established platform provides immediate market access, though multiples can be rich. For private Fintech M&A in 2025, valuation multiples for Banking - Consumer companies, using the EV/Revenue method, generally range from 4.5x for smaller entities ($1-5M revenue) up to 7x for those in the $10-30M revenue bracket. Strategically, established banks are currently showing a preference to fund consumer finance providers, such as through debt facilities, rather than outright consumer loan acquisitions. Velocity Financial, Inc. ended Q3 2025 with liquidity of $143.5 million and total available warehouse line capacity of $600.3 million, providing the capital base for such a strategic move.

Invest in a FinTech platform specializing in small business working capital loans.

This targets a growing, technology-driven segment. The Working Capital Loan industry is projected to grow from an estimated $1.578 Billion in 2025 to $4.13 Billion by 2035, showing a Compound Annual Growth Rate (CAGR) of 10.32%. In 2025, small and medium-sized enterprises (SMEs) are expected to drive over 70 percent of the total demand for these loans. The market is also seeing a 30 percent increase in alternative lenders in 2025. Velocity Financial, Inc.'s Q3 2025 Net Revenue was $85.8 million, demonstrating a strong revenue base to support strategic investment in a complementary, high-growth FinTech vertical.

Launch a tech-enabled property management service for existing borrowers.

This is a product development move into a new service area for the existing real estate investor market. Velocity Financial, Inc.'s existing loan portfolio provides a ready customer base. As of September 30, 2025, the Total Loan Portfolio (UPB) stood at just under $6.3 billion. A tech-enabled service could potentially improve borrower retention and provide ancillary fee income, which would supplement the $25.4 million in Net Income reported for Q3 2025.

Offer insurance products tailored to non-owner occupied investment properties.

This leverages the existing borrower base into the insurance vertical. The global Property Insurance market was valued at $655,484.5 million in 2024 and is projected to grow at an 8.50% CAGR through 2031. North America held a market size of $262,193.80 million in 2024, representing over 40% of the global total. Specifically, the US Home Insurance market was valued at $73 billion in 2024. The focus on non-owner occupied properties targets the landlord segment, which is a key driver for specialized coverage.

Enter the municipal bond market by securitizing non-real estate assets.

While Velocity Financial, Inc. has successfully securitized real estate assets, securitizing other asset classes would be a true diversification of funding source and asset type. The municipal bond market is expected to be attractive in 2025 due to low real interest rates. The total outstanding municipal bonds are valued at $4 trillion. Velocity Financial, Inc. has proven securitization capability, completing two deals in Q3 2025 totaling $190.9 million and $457.5 million. The firm's Q3 2025 Portfolio Net Interest Margin (NIM) was 3.65%.

The potential for diversification can be mapped against the current operational scale of Velocity Financial, Inc. as of Q3 2025:

Metric	Value (as of 9/30/2025)	Context for Diversification
Total Loan Portfolio (UPB)	Just under $6.3 billion	Base asset size to potentially cross-sell new products/services.
Q3 2025 Net Revenue	$85.8 million	Revenue base for potential new fee-generating services.
Q3 2025 Liquidity	$143.5 million	Available capital for M&A or initial investment in new ventures.
Q3 2025 Warehouse Capacity	$600.3 million	Capacity to fund non-real estate loan production if a FinTech platform is acquired.
NPL as % of HFI Loans	9.8%	Credit quality metric to compare against new asset classes like unsecured consumer loans.

The company's recent performance shows strong growth in its core area, with Loan Production reaching $739.0 million in Q3 2025, a 55.0% increase from the prior year's third quarter.

• Q3 2025 Net Income increased 60.6% year-over-year to $25.4 million.
• Core Diluted EPS for Q3 2025 was $0.69.
• The company completed its first single counterparty securitization totaling $190.9 million in Q3 2025.
• The weighted average portfolio loan-to-value ratio was 65.5% as of September 30, 2025.