Subsequent Events	6 Months Ended
Jun. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	Note 16 — Subsequent Events On May 19, 2022, at the Company's annual meeting of stockholders, stockholders approved the Velocity Financial Employee Stock Purchase Plan (the “ESPP”) which authorizes 568,182 shares of Common Stock for issuance under the ESPP. The number of shares of Common Stock authorized for issuance under the ESPP shall automatically increase on the first day of each fiscal year, beginning with January 1, 2023, and continuing until (and including) January 1, 2032, with such annual increase equal to the lesser of (i) 568,182 shares, (ii) 1% of the number of shares of Common Stock issued and outstanding on December 31 of the immediately preceding fiscal year and (iii) an amount determined by the board of directors of the Company. The ESPP consists of two 6-month Offering Periods each year, with the stock purchases made at the end of each Offering Period. The ESPP’s first Offering Period started on July 1, 2022. The Company has evaluated events that have occurred subsequent to June 30, 2022 through the issuance of the accompanying consolidated financial statements and has concluded there are no other subsequent events that would require recognition or disclosure in the accompanying consolidated financial statements.

Subsequent Events

6 Months Ended

Jun. 30, 2022

Note 16 — Subsequent Events

On May 19, 2022, at the Company's annual meeting of stockholders, stockholders approved the Velocity Financial Employee Stock Purchase Plan (the “ESPP”) which authorizes 568,182 shares of Common Stock for issuance under the ESPP. The number of shares of Common Stock authorized for issuance under the ESPP shall automatically increase on the first day of each fiscal year, beginning with January 1, 2023, and continuing until (and including) January 1, 2032, with such annual increase equal to the lesser of (i) 568,182 shares, (ii) 1% of the number of shares of Common Stock issued and outstanding on December 31 of the immediately preceding fiscal year and (iii) an amount determined by the board of directors of the Company. The ESPP consists of two 6-month Offering Periods each year, with the stock purchases made at the end of each Offering Period. The ESPP’s first Offering Period started on July 1, 2022.

The Company has evaluated events that have occurred subsequent to June 30, 2022 through the issuance of the accompanying consolidated financial statements and has concluded there are no other subsequent events that would require recognition or disclosure in the accompanying consolidated financial statements.