CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Interest income	$ 310,775	$ 240,343	$ 181,968
Interest expense — portfolio related	186,468	127,723	85,386
Net interest income — portfolio related	124,307	112,620	96,582
Interest expense — corporate debt	16,556	29,472	20,609
Net interest income	107,751	83,148	75,973
Provision for (reversal of) loan losses	1,915	1,152	(292)
Net interest income after provision for loan losses	105,836	81,996	76,265
Other operating income
Gain on disposition of loans	8,238	7,107	7,892
Unrealized gain on fair value loans	47,850	8,265	29
Unrealized (loss) gain on mortgage servicing rights	(660)	2,086
Unrealized loss on fair value securitized debt	(9,002)
Origination income	12,450	5,225	1,610
Interest income on cash balance	5,194
Other income	1,840	1,637	267
Total other operating income	65,910	24,320	9,798
Operating expenses
Compensation and employee benefits	48,344	30,458	19,190
Origination expenses	518	3,985	2,174
Securitizations expenses	12,923
Loan servicing	17,631	12,298	8,282
Professional fees	4,599	4,179	3,781
Rent and occupancy	1,927	1,748	1,769
Real estate owned, net	6,153	(70)	3,150
Other operating expenses	8,524	9,166	7,924
Total operating expenses	100,619	61,764	46,270
Income before income taxes	71,127	44,552	39,793
Income tax expense	18,834	12,033	10,569
Net income	52,293	32,519	29,224
Net income attributable to noncontrolling interest	20	308
Net income attributable to Velocity Financial, Inc.	52,273	32,211	29,224
Less undistributed earnings attriuable to participating securities	753	491	8,589
Net earnings attributable to common shareholders	$ 51,520	$ 31,720	$ 20,635
Earnings per common share
Basic	$ 1.6	$ 0.99	$ 0.9
Diluted	$ 1.52	$ 0.94	$ 0.86
Weighted average common shares outstanding
Basic	32,206	31,913	22,813
Diluted	34,484	34,131	33,982