CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
ASSETS
Cash and cash equivalents	$ 49,901	$ 40,566
Restricted cash	20,929	21,361
Loans held for sale, at fair value		17,590
Loans held for investment, at amortized cost	2,420,116	2,828,123
Loans held for investment, at fair value	2,766,951	1,306,072
Total loans, net	5,187,067	4,151,785
Accrued interest receivables	35,235	27,028
Receivables due from servicers	123,494	85,077
Other receivables	1,359	8,763
Real estate owned, net	68,000	44,268
Property and equipment, net	1,650	2,785
Deferred tax asset	13,612	2,339
Mortgage servicing rights, at fair value	13,712	8,578
Goodwill	6,775	6,775
Other assets	5,674	5,248
Total assets	5,527,408	4,404,573
LIABILITIES
Accounts payable and accrued expenses	147,814	121,969
Secured financing, net	284,833	211,083
Securitized debt, at amortized cost	2,019,056	2,418,811
Securitized debt, at fair value	2,207,408	877,417
Warehouse and repurchase facilities, net	348,082	334,755
Derivative liability		3,665
Total liabilities	5,007,193	3,967,700
Commitments and contingencies
EQUITY
Common stock ($0.01 par value, 100,000,000 shares authorized; 33,761,147 and 32,987,248 shares issued, 33,545,585 and 32,865,836 shares outstanding as of December 31, 2024 and 2023, respectively)	339	331
Additional paid-in capital	322,954	306,736
Retained earnings	197,325	128,906
Treasury stock, at cost (215,562 and 121,412 common shares as of December 31, 2024 and 2023 respectively)	(2,869)	(1,319)
Accumulated other comprehensive loss	(805)	(1,210)
Total Velocity Financial Inc. stockholders' equity	516,944	433,444
Noncontrolling interest in subsidiary	3,271	3,429
Total equity	520,215	436,873
Total liabilities and equity	$ 5,527,408	$ 4,404,573