CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Interest income	$ 240,343	$ 181,968	$ 167,322
Interest expense — portfolio related	127,723	85,386	87,826
Net interest income — portfolio related	112,620	96,582	79,496
Interest expense — corporate debt	29,472	20,609	12,049
Net interest income	83,148	75,973	67,447
Provision for (reversal of) loan losses	1,152	(292)	5,068
Net interest income after provision for loan losses	81,996	76,265	62,379
Other operating income
Gain on disposition of loans	7,107	7,892	7,576
Unrealized gain on fair value loans	8,265	29	442
Unrealized gain on mortgage servicing rights	2,086
Other income (expense)	4,767	267	(1,698)
Total other operating income	22,225	8,188	6,320
Operating expenses
Compensation and employee benefits	30,458	19,190	20,731
Rent and occupancy	1,748	1,769	1,743
Loan servicing	12,298	8,282	7,802
Professional fees	4,179	3,781	4,238
Real estate owned, net	(70)	3,150	2,656
Other operating expenses	11,056	8,488	8,400
Total operating expenses	59,669	44,660	45,570
Income before income taxes	44,552	39,793	23,129
Income tax expense	12,033	10,569	5,352
Net income	32,519	29,224	17,777
Net income attributable to noncontrolling interest	308
Net income attributable to Velocity Financial, Inc.	32,211	29,224	17,777
Less undistributed earnings attriuable to participating securities	491	8,589
Less deemed dividends on preferred stock			48,955
Net earnings attributable to common shareholders	$ 31,720	$ 20,635	$ (31,178)
Earnings (loss) per common share
Basic	$ 0.99	$ 0.90	$ (1.55)
Diluted	$ 0.94	$ 0.86	$ (1.55)
Weighted average common shares outstanding
Basic	31,913	22,813	20,087
Diluted	34,131	33,982	20,087