CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement [Abstract]
Interest income	$ 59,243	$ 44,978	$ 111,292	$ 85,685
Interest expense — portfolio related	28,752	20,566	52,308	41,399
Net interest income — portfolio related	30,491	24,412	58,984	44,286
Interest expense — corporate debt	4,182	4,309	21,322	11,658
Net interest income	26,309	20,103	37,662	32,628
Provision for (reversal of) loan losses	279	(1,000)	1,009	(895)
Net interest income after provision for (reversal of) loan losses	26,030	21,103	36,653	33,523
Other operating income
Gain on disposition of loans	1,776	2,391	6,317	5,230
Unrealized gain on fair value loans	6	20	16	18
Other income (expense)	1,257	21	2,354	(15)
Total other operating income	3,039	2,432	8,687	5,233
Operating expenses
Compensation and employee benefits	6,553	4,546	11,876	9,732
Rent and occupancy	426	430	868	893
Loan servicing	3,290	1,922	5,741	3,788
Professional fees	1,062	795	2,423	1,329
Real estate owned, net	(251)	1,039	(426)	1,548
Other operating expenses	3,199	1,918	6,047	3,977
Total operating expenses	14,279	10,650	26,529	21,267
Income before income taxes	14,790	12,885	18,811	17,489
Income tax expense	4,019	3,432	4,809	4,640
Net income	10,771	9,453	14,002	12,849
Net income attributable to noncontrolling interest	126		236
Net income attributable to Velocity Financial, Inc.	10,645	9,453	13,766	12,849
Less: undistributed earnings attributable to participating securities	164	3,571	212	4,854
Net earnings attributable to common stockholders	$ 10,481	$ 5,882	$ 13,554	$ 7,995
Earnings per common share
Basic	$ 0.33	$ 0.29	$ 0.42	$ 0.40
Diluted	$ 0.31	$ 0.28	$ 0.40	$ 0.38
Weighted average common shares outstanding
Basic	31,917	20,087	31,904	20,087
Diluted	34,057	33,960	34,130	33,684