CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
ASSETS
Cash and cash equivalents	$ 26,372	$ 35,965
Restricted cash	14,533	11,639
Loans held for sale, net		87,908
Loans held for sale, at fair value	16,569
Loans held for investment, net	3,445,563	2,527,564
Loans held for investment, at fair value	926	1,359
Total loans, net	3,463,058	2,616,831
Accrued interest receivables	18,333	13,159
Receivables due from servicers	66,992	74,330
Other receivables	1,962	1,812
Real estate owned, net	13,188	17,557
Property and equipment, net	3,495	3,830
Deferred tax asset	4,337	16,604
Mortgage servicing rights, at fair value	9,868	7,152
Goodwill	6,775	6,775
Other assets	18,453	6,824
Total assets	3,647,366	2,812,478
LIABILITIES
Accounts payable and accrued expenses	75,150	92,195
Secured financing, net	209,537	162,845
Securitizations, net	2,651,895	1,911,879
Warehouse and repurchase facilities, net	340,050	301,069
Total liabilities	3,276,632	2,467,988
Commitments and contingencies
EQUITY
Common stock ($0.01 par value, 100,000,000 shares authorized at September 30, 2022 and December 31, 2021; 32,415,860 and 32,293,042 shares issued and outstanding, respectively)	325	323
Treasury stock, at cost (33,647 common shares at September 30, 2022 and none at December 31, 2021)	(458)
Additional paid-in capital	298,772	296,364
Retained earnings	68,171	44,422
Total Velocity Financial Inc. stockholders' equity	366,810	341,109
Noncontrolling interest in subsidiary	3,924	3,381
Total equity	370,734	344,490
Total liabilities and equity	$ 3,647,366	$ 2,812,478