Barclays Bank agreed to increase the capacity of Velocity Financial’s subsidiary Velocity Commercial Capital’s existing warehouse repurchase facility to $300 million in order to support the company’s loan origination growth.
“We appreciate the partnership and continued support from Barclays as we execute our growth strategy by financing real estate investors nationwide,” Jeff Taylor, EVP of capital markets for Velocity Commercial Capital, said.
Velocity Financial is the parent company of Velocity Mortgage Capital, a direct portfolio lender which originates mortgages for residential investment and small commercial properties typically owned by independent real estate investors and small business owners. Since 2004, Velocity Financial has funded more than $3.2 billion in investment and commercial property loans.
