CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Interest income	$ 63,419	$ 46,923	$ 174,711	$ 132,608
Interest expense — portfolio related	34,561	20,321	86,869	61,720
Net interest income — portfolio related	28,858	26,602	87,842	70,888
Interest expense — corporate debt	4,011	4,488	25,333	16,147
Net interest income	24,847	22,114	62,509	54,741
Provision for (reversal of) loan losses	580	228	1,589	(668)
Net interest income after provision for (reversal of) loan losses	24,267	21,886	60,920	55,409
Other operating income
Gain on disposition of loans	399	306	6,716	5,536
Unrealized gain on fair value loans	453		469	18
Other income	1,657	33	4,011	18
Total other operating income	2,509	339	11,196	5,572
Operating expenses
Compensation and employee benefits	6,788	4,738	18,664	14,470
Rent and occupancy	445	447	1,313	1,340
Loan servicing	3,314	2,014	9,055	5,803
Professional fees	664	736	3,087	2,064
Real estate owned, net	(195)	1,186	(621)	2,734
Other operating expenses	1,711	2,177	7,758	6,154
Total operating expenses	12,727	11,298	39,256	32,565
Income before income taxes	14,049	10,927	32,860	28,416
Income tax expense	3,759	2,905	8,568	7,545
Net income	10,290	8,022	24,292	20,871
Net income attributable to noncontrolling interest	307		543
Net income attributable to Velocity Financial, Inc.	9,983	8,022	23,749	20,871
Less: undistributed earnings attributable to participating securities	152	3,030	362	7,884
Net earnings attributable to common stockholders	$ 9,831	$ 4,992	$ 23,387	$ 12,987
Earnings per common share
Basic	$ 0.31	$ 0.25	$ 0.73	$ 0.65
Diluted	$ 0.29	$ 0.23	$ 0.70	$ 0.62
Weighted average common shares outstanding
Basic	31,922	20,090	31,910	20,088
Diluted	34,199	34,212	34,153	33,858