Velocity Financial, Inc. Acquires Majority Interest in Century Health & Housing Capital
Velocity Financial, Inc. ("Velocity" or the "Company") (NYSE:VEL), a leading provider of small balance investor loans, today announced it has acquired a majority stake in Century Health & Housing Capital ("Century").
Founded in 1992, Century is a licensed "Ginnie Mae" issuer/servicer that provides government-insured Federal Housing Administration (FHA) mortgage financing for multifamily housing, senior housing and long-term care/assisted living facilities. Century originates loans through its borrower-direct origination channel and services the loans through its in-house servicing platform, which enables the formation of long-term relationships with its clients and drives strong portfolio
