CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
Interest income	$ 135,567	$ 97,760	$ 254,307	$ 188,289
Interest expense — portfolio related	81,838	59,188	156,926	114,863
Net interest income — portfolio related	53,729	38,572	97,381	73,426
Interest expense — corporate debt	6,143	6,155	12,285	11,535
Net interest income	47,586	32,417	85,096	61,891
Provision for credit losses	1,598	218	3,470	1,219
Net interest income after provision for credit losses	45,988	32,199	81,626	60,672
Other operating income
Gain on disposition of loans	6,286	3,168	9,120	4,865
Unrealized gain on fair value loans	29,906	17,123	64,742	36,049
Unrealized loss on fair value securitized debt	(7,584)	(4,643)	(21,266)	(6,961)
Unrealized gain (loss) on mortgage servicing rights	309	(373)	(772)	71
Origination fee income	8,936	5,072	17,615	10,058
Interest income on cash balance	1,505	1,731	2,844	3,362
Other income	489	483	1,010	892
Total other operating income	39,847	22,561	73,293	48,336
Operating expenses
Compensation and employee benefits	22,605	16,562	44,289	31,919
Origination expenses	1,193	749	2,031	1,395
Securitization expenses	11,521	6,232	15,564	9,106
Loan servicing	8,205	5,160	16,213	9,984
Professional fees	1,992	1,718	3,775	3,833
Rent and occupancy	298	617	573	1,115
Real estate owned, net	3,298	1,355	6,327	3,811
Other operating expenses	2,801	2,494	5,331	4,735
Total operating expenses	51,913	34,887	94,103	65,898
Income before income taxes	33,922	19,873	60,816	43,110
Total income tax expense	7,752	5,162	15,998	11,066
Net income	26,170	14,711	44,818	32,044
Net income (loss) attributable to noncontrolling interest	173	(67)	(66)	15
Net income attributable to Velocity Financial, Inc.	25,997	14,778	44,884	32,029
Less undistributed earnings attributable to unvested restricted stock awards	286	182	523	394
Net earnings attributable to common stockholders	$ 25,711	$ 14,596	$ 44,361	$ 31,635
Earnings per common share
Basic	$ 0.69	$ 0.45	$ 1.25	$ 0.97
Diluted	$ 0.69	$ 0.42	$ 1.2	$ 0.9
Weighted average common shares outstanding
Basic	37,194	32,585	35,450	32,563
Diluted	37,790	35,600	37,309	35,519
Federal
Operating expenses
Total income tax expense	$ 5,928	$ 3,675	$ 11,778	$ 7,837
State
Operating expenses
Total income tax expense	$ 1,824	$ 1,487	$ 4,220	$ 3,229