**Exhibit 31.1**

SECTION 302 CERTIFICATION PURSUANT TOSARBANES-OXLEY ACT OF 2002 

I, John C.Kleinert, Chief Executive Officer of Velocity Asset Management, Inc. (the“Smaller Reporting Company”) do hereby certify that: 

          1.     I have reviewed this quarterly report on Form 10-Q of Velocity AssetManagement, Inc; 

          2.     Based on my knowledge, this report does notcontain any untrue statement of a material fact or omit to state amaterial fact necessary to make the statements made, in light of the circumstancesunder which such statements were made, not misleading with respect to theperiod covered by this report; 

          3.     Based on my knowledge, the financial statements, and other financialinformation included in this report, fairly present in all material respectsthe financial condition, results of operations and cash flows of the Company asof, and for, the period presented in this report; 

          4.     The Smaller Reporting Company’s other certifying officer and I are responsiblefor establishing and maintaining disclosure controls and procedures (as definedin Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control overfinancial reporting (as defined in Exchange Act Rules13a-15(f) and 15d-15(f))for the Smaller Reporting Company and have: 

                    (a)Designed such disclosure controls andprocedure, or caused such disclosure controls and procedures to be designedunder our supervision, to ensure that material information relating to theSmaller Reporting Company, including its consolidated subsidiaries, is madeknown to us by others within those entities, particularly during the period inwhich this report is being prepared; 

                    (b)Designed such internal control overfinancial reporting, or caused such internal control over financial reportingto be designed under our supervision, to provide reasonable assurance regardingthe reliability of financial reporting and the preparation of financialstatements for external purposes in accordance with generally acceptedaccounting principles; 

                    (c)Evaluated the effectiveness of the SmallerReporting Company’s disclosure controls and procedures and presented in thisreport our conclusions about the effectiveness of the disclosure controls andprocedures, as of the end of the period covered by this report based on suchevaluation; and 

                    (d)Disclosed in this report any changes in theSmaller Reporting Company’s internal control over financial reporting thatoccurred during the Smaller Reporting Company’s most recent fiscal quarter thathas materially affected, or is reasonably likely to materially affect, theCompany’s internal control over financial reporting; and 

          5.     TheSmaller Reporting Company’s other certifying officer and I have disclosed,based on our most recent evaluation or internal control over financialreporting, to the Smaller Reporting Company’s auditors and the audit committeeof the Smaller Reporting Company’s board of directors (or persons performingthe equivalent functions): 

                    (a)all significant deficiencies and material weaknesses in the design or operationof internal controls over financial reporting which hare reasonably likely toadversely affect the Company’s ability to record, process, summarize and reportfinancial information; and 

                    (b)any fraud, whether or not material, that involves management or other employeeswho have a significant role in the Smaller Reporting Company’s internal controlover financial reporting.