CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Interest income	$ 79,088	$ 63,419	$ 224,506	$ 174,711
Interest expense — portfolio related	47,583	34,561	135,062	86,869
Net interest income — portfolio related	31,505	28,858	89,444	87,842
Interest expense — corporate debt	4,138	4,011	12,417	25,333
Net interest income	27,367	24,847	77,027	62,509
Provision for loan losses	154	580	1,088	1,589
Net interest income after provision for loan losses	27,213	24,267	75,939	60,920
Other operating income
Gain on disposition of loans	3,606	399	6,756	6,716
Unrealized (loss) gain on fair value loans	(1,284)	453	8,483	469
Unrealized gain on fair value securitized debt	9,692		15,083
Origination income	3,323	518	8,469	1,704
Bank interest income	1,342		3,478
Other income	681	1,657	1,970	4,011
Total other operating income	17,360	3,027	44,239	12,900
Operating expenses
Compensation and employee benefits	12,523	6,788	33,200	18,664
Origination (income) expenses	273	209	347	2,656
Securitization expenses	4,930		10,213
Loan servicing	4,901	3,314	12,996	9,055
Professional fees	854	664	2,865	3,087
Rent and occupancy	472	445	1,377	1,313
Real estate owned, net	1,239	(195)	4,085	(621)
Other operating expenses	2,142	2,020	6,276	6,806
Total operating expenses	27,334	13,245	71,359	40,960
Income before income taxes	17,239	14,049	48,819	32,860
Income tax expense	5,070	3,759	13,693	8,568
Net income	12,169	10,290	35,126	24,292
Net income attributable to noncontrolling interest	83	307	208	543
Net income attributable to Velocity Financial, Inc.	12,086	9,983	34,918	23,749
Less undistributed earnings attributable to unvested restricted stock awards	183	152	530	362
Net earnings attributable to common shareholders	$ 11,903	$ 9,831	$ 34,388	$ 23,387
Earnings per common share
Basic	$ 0.37	$ 0.31	$ 1.07	$ 0.73
Diluted	$ 0.35	$ 0.29	$ 1.02	$ 0.7
Weighted average common shares outstanding
Basic	32,275	31,922	32,166	31,910
Diluted	34,731	34,199	34,313	34,153