Velocity Financial Acquires Majority Interest in Century Health & Housing Capital
December 28, 2021
Velocity Financial, Inc. (NYSE: VEL) has acquired a majority stake in Century Health & Housing Capital, a Ginnie Mae issuer/servicer that provides FHA-insured mortgage financing and servicing for multifamily, senior living and long-term care facilities. The acquisition expands Velocity's product suite into government-insured multifamily and healthcare lending, diversifies revenue with fee-based origination and servicing income, and is expected to be immediately accretive to earnings.
- Buyers
- Velocity Financial, Inc.
- Targets
- Century Health & Housing Capital
- Industry
- Financial Services
- Location
- New York, United States
- Transaction Type
- Buyout
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