Percentage points added to the reference rate to compute the variable rate on the debt instrument.

No definition available.

Name:	us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
Namespace Prefix:	us-gaap_
Data Type:	num:percentItemType
Balance Type:	na
Period Type:	duration

- Definition

The reference rate for the variable rate of the debt instrument, such as LIBOR or the US Treasury rate and the maturity of the reference rate used, such as three months or six months LIBOR.

+ References

No definition available.

+ Details

Name:	us-gaap_DebtInstrumentDescriptionOfVariableRateBasis
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

- Definition

Face (par) amount of debt instrument at time of issuance.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28551-108399

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

+ Details

Name:	us-gaap_DebtInstrumentFaceAmount
Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	instant

- Definition

Contractual interest rate for funds borrowed, under the debt agreement.

+ References

+ Details

Name:	us-gaap_DebtInstrumentInterestRateStatedPercentage
Namespace Prefix:	us-gaap_
Data Type:	num:percentItemType
Balance Type:	na
Period Type:	instant

- 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_DebtInstrumentLineItems
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

- Definition

Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22(a)(2))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

+ Details

Name:	us-gaap_DebtInstrumentMaturityDate
Namespace Prefix:	us-gaap_
Data Type:	xbrli:dateItemType
Balance Type:	na
Period Type:	duration

- Definition

Period of time between issuance and maturity of debt instrument, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.

+ References

No definition available.

+ Details

Name:	us-gaap_DebtInstrumentTerm
Namespace Prefix:	us-gaap_
Data Type:	xbrli:durationItemType
Balance Type:	na
Period Type:	duration

- Definition

Amount, after accumulated amortization, of debt issuance costs. Includes, but is not limited to, legal, accounting, underwriting, printing, and registration costs.

+ References

+ Details

Name:	us-gaap_DeferredFinanceCostsNet
Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	debit
Period Type:	instant

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(16))
-URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(16))
-URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910

+ Details

Name:	us-gaap_LineOfCredit
Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	instant

- Definition

Description of the terms of a credit facility arrangement. Terms typically include interest rate, collateral required, guarantees required, repayment requirements, and restrictions on use of assets and activities of the entity.

+ References

+ Details

Name:	us-gaap_LineOfCreditFacilityDescription
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

- Definition

Date the credit facility terminates, in CCYY-MM-DD format.

+ References

+ Details

Name:	us-gaap_LineOfCreditFacilityExpirationDate1
Namespace Prefix:	us-gaap_
Data Type:	xbrli:dateItemType
Balance Type:	na
Period Type:	duration

- Definition

Description of the interest rate for the amounts borrowed under the credit facility, including the terms and the method for determining the interest rate (for example, fixed or variable, LIBOR plus a percentage, increasing rate, timing of interest rate resets, remarketing provisions).

+ References

+ Details

Name:	us-gaap_LineOfCreditFacilityInterestRateDescription
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

- Definition

Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility.

+ References

+ Details

Name:	us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity
Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	instant

- Definition

Carrying amount of collateralized debt obligations with maturities initially due after one year or beyond the operating cycle, if longer, excluding the current portion. Obligations include, but not limited to, mortgage loans, chattel loans, and other borrowings secured by assets.

+ References

+ Details

Name:	us-gaap_SecuredLongTermDebt
Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	instant

- Definition

Agreement entering date.

+ References

No definition available.

+ Details

Name:	vel_AgreementEnteringDate
Namespace Prefix:	vel_
Data Type:	xbrli:dateItemType
Balance Type:	na
Period Type:	duration

- Definition

Debt instrument interest rate floor.

+ References

No definition available.

+ Details

Name:	vel_DebtInstrumentInterestRateFloor
Namespace Prefix:	vel_
Data Type:	num:percentItemType
Balance Type:	na
Period Type:	duration

- Definition

Debt instrument maturity month year.

+ References

No definition available.

+ Details

Name:	vel_DebtInstrumentMaturityMonthYear
Namespace Prefix:	vel_
Data Type:	xbrli:gYearMonthItemType
Balance Type:	na
Period Type:	duration

- Definition

Lines of credit fund maximum percentage of principle balance of mortgage loans.

+ References

No definition available.

+ Details

Name:	vel_LinesOfCreditFundMaximumPercentageOfPrincipleBalanceOfMortgageLoans
Namespace Prefix:	vel_
Data Type:	num:percentItemType
Balance Type:	na
Period Type:	duration

- Definition

Term loan amortization annual rate.

+ References

No definition available.

+ Details

Name:	vel_TermLoanAmortizationAnnualRate
Namespace Prefix:	vel_
Data Type:	num:percentItemType
Balance Type:	na
Period Type:	instant

- Details

Name:	us-gaap_CreditFacilityAxis=us-gaap_RevolvingCreditFacilityMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

- Details

Name:	us-gaap_VariableRateAxis=us-gaap_LondonInterbankOfferedRateLIBORMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

- Details

Name:	us-gaap_DebtInstrumentAxis=vel_TwoThousandTwentyoneTermLoansMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

- Details

Name:	us-gaap_TypeOfArrangementAxis=vel_CorporateDebtAgreementMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

- Details

Name:	us-gaap_DebtInstrumentRedemptionPeriodAxis=us-gaap_DebtInstrumentRedemptionPeriodOneMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

- Details

Name:	us-gaap_DebtInstrumentRedemptionPeriodAxis=vel_DebtInstrumentRedemptionAfterYearOneMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

- Details

Name:	us-gaap_TypeOfArrangementAxis=vel_TwoThousandThirteenRepurchaseAgreementMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

- Details

Name:	us-gaap_CreditFacilityAxis=us-gaap_SecuredDebtMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

- Details

Name:	us-gaap_TypeOfArrangementAxis=vel_TwoThousandNineteenTermLoansMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

- Details

Name:	us-gaap_TypeOfArrangementAxis=vel_TwoThousandTwentyOneRepurchaseAgreementMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

- Details

Name:	srt_RangeAxis=srt_MinimumMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

- Details

Name:	srt_RangeAxis=srt_MaximumMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

- Details

Name:	us-gaap_TypeOfArrangementAxis=vel_JulyTwoThousandTwentyOneTermRepurchaseAgreementMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

Other Debt - Additional Information (Details) - USD ($)				1 Months Ended		9 Months Ended
Other Debt - Additional Information (Details) - USD ($)	Feb. 05, 2021	Dec. 26, 2019	Sep. 12, 2018	Apr. 16, 2021	Jan. 29, 2021	Sep. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Lines of credit fund maximum percentage of principle balance of mortgage loans						100.00%
Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, term			3 years
Debt instrument, description						one-month LIBOR
Agreement entered date						Sep. 12, 2018
Debt instrument, maturity date						Nov. 10, 2023
Line of credit, maximum capacity			$ 50,000,000.0
Line of credit, outstanding amount						$ 30,700,000	$ 0
LIBOR \| Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, floor rate						0.75%
Debt instrument, spread rate						3.50%
2021 Term Loan
Debt Instrument [Line Items]
Debt issuance costs, net						$ 8,500,000	3,000,000.0
Corporate Debt Agreement
Debt Instrument [Line Items]
Term loans, balance							78,000,000.0
Corporate Debt Agreement \| 2021 Term Loan
Debt Instrument [Line Items]
Debt instrument, term	5 years
Debt instrument, face amount	$ 175,000,000.0
Debt instrument, description						one-month LIBOR
Debt instrument, maturity month year	2026-02
Term loans, balance						$ 171,900,000
Corporate Debt Agreement \| 2021 Term Loan \| First year
Debt Instrument [Line Items]
Term loan amortization, annual rate						2.50%
Corporate Debt Agreement \| 2021 Term Loan \| Per Year Thereafter
Debt Instrument [Line Items]
Term loan amortization, annual rate						5.00%
Corporate Debt Agreement \| 2021 Term Loan \| LIBOR
Debt Instrument [Line Items]
Debt instrument, floor rate	1.00%
Debt instrument, spread rate	8.00%
2013 Repurchase Agreement \| Secured Debt
Debt Instrument [Line Items]
Debt instrument, description						one-month LIBOR
Debt instrument, spread rate						3.25%
Agreement entered date						May 17, 2013
Debt instrument, maturity date						Sep. 29, 2023
Line of credit, maximum capacity						$ 200,000,000.0	100,000,000
2019-1 Trust \| Secured Debt
Debt Instrument [Line Items]
Debt instrument, face amount		$ 3,000,000.0
Debt instrument, maturity date		Dec. 31, 2021
Line of credit, maximum capacity						3,000,000	$ 3,000,000
Debt instrument, fixed interest rate		9.50%
2021 Repurchase Agreement \| Secured Debt
Debt Instrument [Line Items]
Debt instrument, description				one-month LIBOR	one-month LIBOR
Agreement entered date				Apr. 16, 2021	Jan. 29, 2021
Debt instrument, maturity date				Apr. 16, 2024	Jan. 29, 2022
Line of credit, maximum capacity				$ 100,000,000.0	$ 200,000,000.0	$ 200,000,000
2021 Repurchase Agreement \| Secured Debt \| Minimum
Debt Instrument [Line Items]
Debt instrument, spread rate				3.00%	3.50%
2021 Repurchase Agreement \| Secured Debt \| Maximum
Debt Instrument [Line Items]
Debt instrument, spread rate					4.50%
July Two Thousand Twenty One Term Repurchase Agreement
Debt Instrument [Line Items]
Debt instrument, description						one-month LIBOR
Line of credit, maximum capacity						$ 100,000,000.0
Interest rate description						Each loan advance bears interest at one-month LIBOR with a 0.5% floor plus 4.5% per annum.
Line of credit , maturity date						Jul. 29, 2024
Line of credit facility, description						The July 2021 Term Repurchase Agreement has a maturity date of July 29, 2024, with an option to extend the term to July 29, 2025
July Two Thousand Twenty One Term Repurchase Agreement \| Secured Debt
Debt Instrument [Line Items]
Line of credit, maximum capacity						$ 100,000,000
July Two Thousand Twenty One Term Repurchase Agreement \| LIBOR
Debt Instrument [Line Items]
Debt instrument, floor rate						0.50%
Debt instrument, spread rate						4.50%