CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
ASSETS
Cash and cash equivalents	$ 40,566	$ 45,248
Restricted cash	21,361	16,808
Loans held for sale, at fair value	17,590
Loans held for investment, net	2,828,123	3,272,390
Loans held for investment, at fair value	1,306,072	276,095
Total loans, net	4,151,785	3,548,485
Accrued interest receivables	27,028	20,463
Receivables due from servicers	85,077	65,644
Other receivables	8,763	1,075
Real estate owned, net	44,268	13,325
Property and equipment, net	2,785	3,356
Deferred tax asset	2,339	5,033
Mortgage servicing rights, at fair value	8,578	9,238
Goodwill	6,775	6,775
Other assets	5,248	13,525
Total assets	4,404,573	3,748,975
LIABILITIES
Accounts payable and accrued expenses	121,969	91,525
Secured financing, net	211,083	209,846
Securitized debt, net	2,418,811	2,736,290
Securitized debt at fair value	877,417
Warehouse and repurchase facilities, net	334,755	330,814
Derivative liability	3,665
Total liabilities	3,967,700	3,368,475
Commitments and contingencies
EQUITY
Common stock ($0.01 par value, 100,000,000 shares authorized; 32,987,248 and 32,523,516 shares issued, 32,865,836 and 32,489,869 shares outstanding at December 31, 2023 and 2022, respectively)	331	326
Additional paid-in capital	306,736	300,310
Retained earnings	128,906	76,633
Treasury stock, at cost (121,412 and 33,647 common shares at December 31, 2023 and 2022 respectively)	(1,319)	(458)
Accumulated other comprehensive loss	(1,210)
Total Velocity Financial Inc. stockholders' equity	433,444	376,811
Noncontrolling interest in subsidiary	3,429	3,689
Total equity	436,873	380,500
Total liabilities and equity	$ 4,404,573	$ 3,748,975