The lender plans to raise around $100 million through an initial public offering of shares. Velocity funded about $1.0 billion of originations in 2019, focused on residential investment and small commercial properties.
Anchor Loans and LendingHome are the largest lenders operating in the fix-and-flip space. An analysis of the most recent HMDA data suggests the firms are neck and neck in originations of short-term loans. (Includes data chart.)