XML 64 R53.htm IDEA: XBRL DOCUMENT
v3.23.3

Loans Held for Investment and Loans Held for Investment at Fair Value - Schedule of Amortized Cost in Loans Held for Investment based on Accrual Status and by Loan Origination Year (Details) - Accrual Status - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
--- | --- | --- | ---
Sep. 30, 2023 | Sep. 30, 2023 | Dec. 31, 2022
Financing Receivable Recorded Investment [Line Items] |  |  |
Term Loans Amortized Cost Basis by Origination Year, 2023 |  |  | $ 1,243,841
Term Loans Amortized Cost Basis by Origination Year, 2022 | $ 1,149,712 | $ 1,149,712 | 1,033,695
Term Loans Amortized Cost Basis by Origination Year, 2021 | 943,861 | 943,861 | 168,977
Term Loans Amortized Cost Basis by Origination Year, 2020 | 153,806 | 153,806 | 358,100
Term Loans Amortized Cost Basis by Origination Year, 2019 | 301,119 | 301,119 | 231,024
Term Loans Amortized Cost Basis by Origination Year, Pre-2019 | 402,027 | 402,027 | 241,647
Total | 2,950,525 | 2,950,525 | 3,277,284
Term Loans Amortized Cost Basis by Origination Year, 2022, Gross Charge-offs | 365 | 376 |
Term Loans Amortized Cost Basis by Origination Year, 2021, Gross Charge-offs | (270) | 473 |
Term Loans Amortized Cost Basis by Origination Year, 2019, Gross Charge-offs |  | 447 |
Gross Charge-offs, Total | 95 | 1,296 |
Commercial - Purchase |  |  |
Financing Receivable Recorded Investment [Line Items] |  |  |
Term Loans Amortized Cost Basis by Origination Year, 2023 |  |  | 275,224
Term Loans Amortized Cost Basis by Origination Year, 2022 | 264,569 | 264,569 | 256,059
Term Loans Amortized Cost Basis by Origination Year, 2021 | 236,713 | 236,713 | 37,643
Term Loans Amortized Cost Basis by Origination Year, 2020 | 33,114 | 33,114 | 62,131
Term Loans Amortized Cost Basis by Origination Year, 2019 | 50,374 | 50,374 | 36,398
Term Loans Amortized Cost Basis by Origination Year, Pre-2019 | 62,354 | 62,354 | 33,953
Total | 647,124 | 647,124 | 701,408
Commercial - Purchase | Performing |  |  |
Financing Receivable Recorded Investment [Line Items] |  |  |
Term Loans Amortized Cost Basis by Origination Year, 2023 |  |  | 273,950
Term Loans Amortized Cost Basis by Origination Year, 2022 | 258,084 | 258,084 | 249,100
Term Loans Amortized Cost Basis by Origination Year, 2021 | 230,472 | 230,472 | 36,064
Term Loans Amortized Cost Basis by Origination Year, 2020 | 32,582 | 32,582 | 56,322
Term Loans Amortized Cost Basis by Origination Year, 2019 | 46,101 | 46,101 | 33,193
Term Loans Amortized Cost Basis by Origination Year, Pre-2019 | 55,872 | 55,872 | 30,208
Total | 623,111 | 623,111 | 678,837
Commercial - Purchase | Nonperforming |  |  |
Financing Receivable Recorded Investment [Line Items] |  |  |
Term Loans Amortized Cost Basis by Origination Year, 2023 |  |  | 1,274
Term Loans Amortized Cost Basis by Origination Year, 2022 | 6,485 | 6,485 | 6,959
Term Loans Amortized Cost Basis by Origination Year, 2021 | 6,241 | 6,241 | 1,579
Term Loans Amortized Cost Basis by Origination Year, 2020 | 532 | 532 | 5,809
Term Loans Amortized Cost Basis by Origination Year, 2019 | 4,273 | 4,273 | 3,205
Term Loans Amortized Cost Basis by Origination Year, Pre-2019 | 6,482 | 6,482 | 3,745
Total | 24,013 | 24,013 | 22,571
Commercial - Refinance |  |  |
Financing Receivable Recorded Investment [Line Items] |  |  |
Term Loans Amortized Cost Basis by Origination Year, 2023 |  |  | 272,766
Term Loans Amortized Cost Basis by Origination Year, 2022 | 262,969 | 262,969 | 222,699
Term Loans Amortized Cost Basis by Origination Year, 2021 | 208,331 | 208,331 | 59,650
Term Loans Amortized Cost Basis by Origination Year, 2020 | 55,104 | 55,104 | 127,056
Term Loans Amortized Cost Basis by Origination Year, 2019 | 110,178 | 110,178 | 113,569
Term Loans Amortized Cost Basis by Origination Year, Pre-2019 | 191,455 | 191,455 | 111,357
Total | 828,037 | 828,037 | 907,097
Commercial - Refinance | Performing |  |  |
Financing Receivable Recorded Investment [Line Items] |  |  |
Term Loans Amortized Cost Basis by Origination Year, 2023 |  |  | 263,754
Term Loans Amortized Cost Basis by Origination Year, 2022 | 240,627 | 240,627 | 210,898
Term Loans Amortized Cost Basis by Origination Year, 2021 | 195,968 | 195,968 | 55,795
Term Loans Amortized Cost Basis by Origination Year, 2020 | 50,490 | 50,490 | 103,633
Term Loans Amortized Cost Basis by Origination Year, 2019 | 92,007 | 92,007 | 93,161
Term Loans Amortized Cost Basis by Origination Year, Pre-2019 | 155,865 | 155,865 | 92,723
Total | 734,957 | 734,957 | 819,964
Commercial - Refinance | Nonperforming |  |  |
Financing Receivable Recorded Investment [Line Items] |  |  |
Term Loans Amortized Cost Basis by Origination Year, 2023 |  |  | 9,012
Term Loans Amortized Cost Basis by Origination Year, 2022 | 22,342 | 22,342 | 11,801
Term Loans Amortized Cost Basis by Origination Year, 2021 | 12,363 | 12,363 | 3,855
Term Loans Amortized Cost Basis by Origination Year, 2020 | 4,614 | 4,614 | 23,423
Term Loans Amortized Cost Basis by Origination Year, 2019 | 18,171 | 18,171 | 20,408
Term Loans Amortized Cost Basis by Origination Year, Pre-2019 | 35,590 | 35,590 | 18,634
Total | 93,080 | 93,080 | 87,133
Residential 1-4 Unit - Purchase |  |  |
Financing Receivable Recorded Investment [Line Items] |  |  |
Term Loans Amortized Cost Basis by Origination Year, 2023 |  |  | 256,906
Term Loans Amortized Cost Basis by Origination Year, 2022 | 237,538 | 237,538 | 237,342
Term Loans Amortized Cost Basis by Origination Year, 2021 | 215,349 | 215,349 | 12,875
Term Loans Amortized Cost Basis by Origination Year, 2020 | 10,798 | 10,798 | 33,998
Term Loans Amortized Cost Basis by Origination Year, 2019 | 27,133 | 27,133 | 20,444
Term Loans Amortized Cost Basis by Origination Year, Pre-2019 | 41,215 | 41,215 | 26,868
Total | 532,033 | 532,033 | 588,433
Residential 1-4 Unit - Purchase | Performing |  |  |
Financing Receivable Recorded Investment [Line Items] |  |  |
Term Loans Amortized Cost Basis by Origination Year, 2023 |  |  | 249,625
Term Loans Amortized Cost Basis by Origination Year, 2022 | 217,835 | 217,835 | 227,235
Term Loans Amortized Cost Basis by Origination Year, 2021 | 203,026 | 203,026 | 10,710
Term Loans Amortized Cost Basis by Origination Year, 2020 | 9,775 | 9,775 | 31,685
Term Loans Amortized Cost Basis by Origination Year, 2019 | 25,710 | 25,710 | 18,891
Term Loans Amortized Cost Basis by Origination Year, Pre-2019 | 35,452 | 35,452 | 22,303
Total | 491,798 | 491,798 | 560,449
Residential 1-4 Unit - Purchase | Nonperforming |  |  |
Financing Receivable Recorded Investment [Line Items] |  |  |
Term Loans Amortized Cost Basis by Origination Year, 2023 |  |  | 7,281
Term Loans Amortized Cost Basis by Origination Year, 2022 | 19,703 | 19,703 | 10,107
Term Loans Amortized Cost Basis by Origination Year, 2021 | 12,323 | 12,323 | 2,165
Term Loans Amortized Cost Basis by Origination Year, 2020 | 1,023 | 1,023 | 2,313
Term Loans Amortized Cost Basis by Origination Year, 2019 | 1,423 | 1,423 | 1,553
Term Loans Amortized Cost Basis by Origination Year, Pre-2019 | 5,763 | 5,763 | 4,565
Total | 40,235 | 40,235 | 27,984
Residential 1-4 Unit - Refinance |  |  |
Financing Receivable Recorded Investment [Line Items] |  |  |
Term Loans Amortized Cost Basis by Origination Year, 2023 |  |  | 360,350
Term Loans Amortized Cost Basis by Origination Year, 2022 | 336,826 | 336,826 | 310,218
Term Loans Amortized Cost Basis by Origination Year, 2021 | 282,605 | 282,605 | 31,610
Term Loans Amortized Cost Basis by Origination Year, 2020 | 27,850 | 27,850 | 111,954
Term Loans Amortized Cost Basis by Origination Year, 2019 | 95,507 | 95,507 | 55,704
Term Loans Amortized Cost Basis by Origination Year, Pre-2019 | 102,852 | 102,852 | 69,469
Total | 845,640 | 845,640 | 939,305
Residential 1-4 Unit - Refinance | Performing |  |  |
Financing Receivable Recorded Investment [Line Items] |  |  |
Term Loans Amortized Cost Basis by Origination Year, 2023 |  |  | 338,959
Term Loans Amortized Cost Basis by Origination Year, 2022 | 291,195 | 291,195 | 285,195
Term Loans Amortized Cost Basis by Origination Year, 2021 | 248,864 | 248,864 | 24,703
Term Loans Amortized Cost Basis by Origination Year, 2020 | 20,577 | 20,577 | 84,208
Term Loans Amortized Cost Basis by Origination Year, 2019 | 67,145 | 67,145 | 39,870
Term Loans Amortized Cost Basis by Origination Year, Pre-2019 | 78,908 | 78,908 | 52,461
Total | 706,689 | 706,689 | 825,396
Residential 1-4 Unit - Refinance | Nonperforming |  |  |
Financing Receivable Recorded Investment [Line Items] |  |  |
Term Loans Amortized Cost Basis by Origination Year, 2023 |  |  | 21,391
Term Loans Amortized Cost Basis by Origination Year, 2022 | 45,631 | 45,631 | 25,023
Term Loans Amortized Cost Basis by Origination Year, 2021 | 33,741 | 33,741 | 6,907
Term Loans Amortized Cost Basis by Origination Year, 2020 | 7,273 | 7,273 | 27,746
Term Loans Amortized Cost Basis by Origination Year, 2019 | 28,362 | 28,362 | 15,834
Term Loans Amortized Cost Basis by Origination Year, Pre-2019 | 23,944 | 23,944 | 17,008
Total | 138,951 | 138,951 | 113,909
Short Term 1-4 Unit - Purchase |  |  |
Financing Receivable Recorded Investment [Line Items] |  |  |
Term Loans Amortized Cost Basis by Origination Year, 2023 |  |  | 42,254
Term Loans Amortized Cost Basis by Origination Year, 2022 | 21,039 | 21,039 | 6,156
Term Loans Amortized Cost Basis by Origination Year, 2021 | 710 | 710 | 16,654
Term Loans Amortized Cost Basis by Origination Year, 2020 | 18,461 | 18,461 | 4,716
Term Loans Amortized Cost Basis by Origination Year, 2019 | 4,406 | 4,406 | 104
Total | 44,616 | 44,616 | 69,884
Short Term 1-4 Unit - Purchase | Performing |  |  |
Financing Receivable Recorded Investment [Line Items] |  |  |
Term Loans Amortized Cost Basis by Origination Year, 2023 |  |  | 40,967
Term Loans Amortized Cost Basis by Origination Year, 2022 | 14,760 | 14,760 | 944
Term Loans Amortized Cost Basis by Origination Year, 2021 | 180 | 180 | 15,659
Term Loans Amortized Cost Basis by Origination Year, 2020 | 17,466 | 17,466 | 4,174
Term Loans Amortized Cost Basis by Origination Year, 2019 | 4,406 | 4,406 |
Total | 36,812 | 36,812 | 61,744
Short Term 1-4 Unit - Purchase | Nonperforming |  |  |
Financing Receivable Recorded Investment [Line Items] |  |  |
Term Loans Amortized Cost Basis by Origination Year, 2023 |  |  | 1,287
Term Loans Amortized Cost Basis by Origination Year, 2022 | 6,279 | 6,279 | 5,212
Term Loans Amortized Cost Basis by Origination Year, 2021 | 530 | 530 | 995
Term Loans Amortized Cost Basis by Origination Year, 2020 | 995 | 995 | 542
Term Loans Amortized Cost Basis by Origination Year, 2019 |  |  | 104
Total | 7,804 | 7,804 | 8,140
Short Term 1-4 Unit - Refinance |  |  |
Financing Receivable Recorded Investment [Line Items] |  |  |
Term Loans Amortized Cost Basis by Origination Year, 2023 |  |  | 36,341
Term Loans Amortized Cost Basis by Origination Year, 2022 | 26,771 | 26,771 | 1,221
Term Loans Amortized Cost Basis by Origination Year, 2021 | 153 | 153 | 10,545
Term Loans Amortized Cost Basis by Origination Year, 2020 | 8,479 | 8,479 | 18,245
Term Loans Amortized Cost Basis by Origination Year, 2019 | 13,521 | 13,521 | 4,805
Term Loans Amortized Cost Basis by Origination Year, Pre-2019 | 4,151 | 4,151 |
Total | 53,075 | 53,075 | 71,157
Short Term 1-4 Unit - Refinance | Performing |  |  |
Financing Receivable Recorded Investment [Line Items] |  |  |
Term Loans Amortized Cost Basis by Origination Year, 2023 |  |  | 35,555
Term Loans Amortized Cost Basis by Origination Year, 2022 | 9,858 | 9,858 |
Total | 9,858 | 9,858 | 35,555
Short Term 1-4 Unit - Refinance | Nonperforming |  |  |
Financing Receivable Recorded Investment [Line Items] |  |  |
Term Loans Amortized Cost Basis by Origination Year, 2023 |  |  | 786
Term Loans Amortized Cost Basis by Origination Year, 2022 | 16,913 | 16,913 | 1,221
Term Loans Amortized Cost Basis by Origination Year, 2021 | 153 | 153 | 10,545
Term Loans Amortized Cost Basis by Origination Year, 2020 | 8,479 | 8,479 | 18,245
Term Loans Amortized Cost Basis by Origination Year, 2019 | 13,521 | 13,521 | 4,805
Term Loans Amortized Cost Basis by Origination Year, Pre-2019 | 4,151 | 4,151 |
Total | $ 43,217 | $ 43,217 | $ 35,602

X
- Definition Amortized cost of financing receivable originated more than five years prior to current fiscal year. Excludes net investment in lease. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 79 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479294/326-20-55-79 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479319/326-20-50-6 + Details
Name: | us-gaap_FinancingReceivableOriginatedFiveOrMoreYearsBeforeLatestFiscalYear
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Amortized cost of financing receivable originated four years prior to current fiscal year. Excludes net investment in lease. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 79 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479294/326-20-55-79 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479319/326-20-50-6 + Details
Name: | us-gaap_FinancingReceivableOriginatedFourYearsBeforeLatestFiscalYear
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Amortized cost of financing receivable originated in current fiscal year. Excludes net investment in lease. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 79 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479294/326-20-55-79 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479319/326-20-50-6 + Details
Name: | us-gaap_FinancingReceivableOriginatedInCurrentFiscalYear
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Amortized cost of financing receivable originated in fiscal year prior to current fiscal year. Excludes net investment in lease. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 79 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479294/326-20-55-79 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479319/326-20-50-6 + Details
Name: | us-gaap_FinancingReceivableOriginatedInFiscalYearBeforeLatestFiscalYear
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Amortized cost of financing receivable originated three years prior to current fiscal year. Excludes net investment in lease. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 79 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479294/326-20-55-79 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479319/326-20-50-6 + Details
Name: | us-gaap_FinancingReceivableOriginatedThreeYearsBeforeLatestFiscalYear
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Amortized cost of financing receivable originated two years prior to current fiscal year. Excludes net investment in lease. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 79 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479294/326-20-55-79 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479319/326-20-50-6 + Details
Name: | us-gaap_FinancingReceivableOriginatedTwoYearsBeforeLatestFiscalYear
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 Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479319/326-20-50-5 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 79 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479294/326-20-55-79 + Details
Name: | us-gaap_FinancingReceivableRecordedInvestmentLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount before allowance of loans and leases held in portfolio, including but not limited to, commercial and consumer loans. Includes deferred interest and fees, undisbursed portion of loan balance, unamortized costs and premiums and discounts from face amounts. Excludes loans and leases covered under loss sharing agreements. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481990/310-10-45-2 + Details
Name: | us-gaap_LoansAndLeasesReceivableGrossCarryingAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Financing receivable originated four years before latest fiscal year accrual gross writeoffs. + References No definition available. + Details
Name: | vel_FinancingReceivableOriginatedFourYearsBeforeLatestFiscalYearAccrualGrossWriteoffs
Namespace Prefix: | vel_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Financing receivable originated two years before latest fiscal year accrual gross writeoffs. + References No definition available. + Details
Name: | vel_FinancingReceivableOriginatedTwoYearsBeforeLatestFiscalYearAccrualGrossWriteoffs
Namespace Prefix: | vel_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Financing receivable originatedin fiscal years before latest fiscal year accrual gross writeoffs. + References No definition available. + Details
Name: | vel_FinancingReceivableOriginatedinFiscalYearsBeforeLatestFiscalYearAccrualGrossWriteoffs
Namespace Prefix: | vel_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Loans and lease receivable accrual gross writeoffs. + References No definition available. + Details
Name: | vel_LoansAndLeaseReceivableAccrualGrossWriteoffs
Namespace Prefix: | vel_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Details
Name: | us-gaap_InvestmentTypeAxis=vel_AccrualStatusMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancingReceivablePortfolioSegmentAxis=vel_CommercialPurchasePortfolioSegmentMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_PerformingFinancingReceivableMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancialInstrumentPerformanceStatusAxis=us-gaap_NonperformingFinancingReceivableMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancingReceivablePortfolioSegmentAxis=vel_CommercialRefinancePortfolioSegmentMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancingReceivablePortfolioSegmentAxis=vel_ResidentialOneToFourUnitPurchasePortfolioSegmentMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancingReceivablePortfolioSegmentAxis=vel_ResidentialOneToFourUnitRefinancePortfolioSegmentMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancingReceivablePortfolioSegmentAxis=vel_ShortTermOneToFourUnitPurchasePortfolioSegmentMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancingReceivablePortfolioSegmentAxis=vel_ShortTermOneToFourUnitRefinancePortfolioSegmentMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |