CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Interest income	$ 97,760	$ 74,897	$ 188,289	$ 145,418
Interest expense — portfolio related	59,188	45,451	114,863	87,480
Net interest income — portfolio related	38,572	29,446	73,426	57,938
Interest expense — corporate debt	6,155	4,139	11,535	8,278
Net interest income	32,417	25,307	61,891	49,660
Provision for credit losses	218	298	1,219	933
Net interest income after provision for credit losses	32,199	25,009	60,672	48,727
Other operating income
Gain on disposition of loans	3,168	1,237	4,865	3,149
Unrealized gain on fair value loans	17,123	2,413	36,049	9,767
Unrealized (loss) gain on fair value securitized debt	(4,643)	5,560	(6,961)	5,391
Origination fee income	5,072	2,735	10,058	5,145
Interest income on cash balance	1,731	1,189	3,362	2,136
Other income	110	903	963	1,290
Total other operating income	22,561	14,037	48,336	26,878
Operating expenses
Compensation and employee benefits	16,562	10,670	31,919	20,678
Origination expenses	749	123	1,395	72
Securitization expenses	6,232	2,699	9,106	5,284
Loan servicing	5,160	4,267	9,984	8,095
Professional fees	1,718	1,056	3,833	2,011
Rent and occupancy	617	458	1,115	905
Real estate owned, net	1,355	1,018	3,811	2,846
Other operating expenses	2,494	1,931	4,735	4,133
Total operating expenses	34,887	22,222	65,898	44,024
Income before income taxes	19,873	16,824	43,110	31,581
Income tax expense	5,162	4,602	11,066	8,623
Net income	14,711	12,222	32,044	22,958
Net (loss) income attributable to noncontrolling interest	(67)	39	15	126
Net income attributable to Velocity Financial, Inc.	14,778	12,183	32,029	22,832
Less undistributed earnings attributable to unvested restricted stock awards	182	185	394	347
Net earnings attributable to common stockholders	$ 14,596	$ 11,998	$ 31,635	$ 22,485
Earnings per common share
Basic	$ 0.45	$ 0.37	$ 0.97	$ 0.7
Diluted	$ 0.42	$ 0.36	$ 0.9	$ 0.67
Weighted average common shares outstanding
Basic	32,585	32,122	32,563	32,111
Diluted	35,600	34,140	35,519	34,095