XML 69 R58.htm IDEA: XBRL DOCUMENT
v3.21.2

Fair Value Measurements - Schedule of Information on Assets Measured and Recorded at Fair Value (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020
--- | --- | ---
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] |  |
Loans held for investment, at fair value | $ 1,370 | $ 1,539
Interest-only strips | 81 | 238
Total recurring fair value measurements | 38,093 | 49,990
Loans held for sale, net | 7,916 | 13,106
Real estate owned, net | 20,046 | 15,767
Level 3 |  |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] |  |
Total recurring fair value measurements | 38,093 | 49,990
Recurring Fair Value Measurements |  |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] |  |
Loans held for investment, at fair value | 1,370 | 1,539
Interest-only strips | 81 | 238
Total recurring fair value measurements | 1,451 | 1,777
Recurring Fair Value Measurements | Level 3 |  |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] |  |
Loans held for investment, at fair value | 1,370 | 1,539
Interest-only strips | 81 | 238
Total recurring fair value measurements | 1,451 | 1,777
Nonrecurring Fair Value Measurements |  |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] |  |
Total recurring fair value measurements | 36,642 | 48,213
Loans held for sale, net | 1,280 | 13,106
Real estate owned, net | 15,743 | 15,767
Individually evaluated/Impaired loans requiring specific allowance, net | 19,619 | 19,340
Nonrecurring Fair Value Measurements | Level 3 |  |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] |  |
Total recurring fair value measurements | 36,642 | 48,213
Loans held for sale, net | 1,280 | 13,106
Real estate owned, net | 15,743 | 15,767
Individually evaluated/Impaired loans requiring specific allowance, net | $ 19,619 | $ 19,340

X
- Definition Fair value portion of probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_AssetsFairValueDisclosure
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount of investment of impaired financing receivables with related allowance for credit losses and without a related allowance for credit losses. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 14A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121611835&loc=SL6953550-111524 + Details
Name: | us-gaap_ImpairedFinancingReceivableRecordedInvestment
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Fair value portion of loans held-for-sale including, but not limited to, mortgage loans and finance receivables. + References No definition available. + Details
Name: | us-gaap_LoansHeldForSaleFairValueDisclosure
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Carrying amount as of the balance sheet date of land and buildings obtained through foreclosure proceedings or defeasance in full or partial satisfaction of a debt arrangement. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=121611835&loc=d3e5162-111524 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=121593590&loc=d3e4437-111522 + Details
Name: | us-gaap_RealEstateAcquiredThroughForeclosure
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Fair value portion of interest continued to be held by a transferor after transferring financial assets to a third party. + References No definition available. + Details
Name: | us-gaap_RetainedInterestFairValueDisclosure
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Loans held for investment, at fair value. + References No definition available. + Details
Name: | vel_LoansHeldForInvestmentAtFairValue
Namespace Prefix: | vel_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Details
Name: | us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsRecurringMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsNonrecurringMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |