CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Interest income	$ 70,521	$ 52,049
Interest expense — portfolio related	42,029	23,556
Net interest income — portfolio related	28,492	28,493
Interest expense — corporate debt	4,139	17,140
Net interest income	24,353	11,353
Provision for loan losses	636	730
Net interest income after provision for loan losses	23,717	10,623
Other operating income
Gain on disposition of loans	1,913	4,540
Unrealized gain on fair value loans	7,354	11
Unrealized loss on fair value securitizations	(170)
Other income	3,461	1,097
Total other operating income	12,558	5,648
Operating expenses
Compensation and employee benefits	10,008	5,323
Origination (income) expenses	(334)	310
Securitizations expenses	2,584
Loan servicing	3,828	2,450
Professional fees	955	1,362
Rent and occupancy	446	442
Real estate owned, net	1,829	(175)
Other operating expenses	2,202	2,538
Total operating expenses	21,518	12,250
Income before income taxes	14,757	4,021
Income tax expense	4,021	790
Net income	10,736	3,231
Net income attributable to noncontrolling interest	87	110
Net income attributable to Velocity Financial, Inc.	10,649	3,121
Less undistributed earnings attributable to participating securities	160	48
Net earnings attributable to common shareholders	$ 10,489	$ 3,073
Earnings per common share
Basic	$ 0.33	$ 0.10
Diluted	$ 0.31	$ 0.09
Weighted average common shares outstanding
Basic	32,098	31,892
Diluted	34,052	34,204