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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
ASSETS    
Cash and cash equivalents $ 29,393 $ 45,248
Restricted cash 17,703 16,808
Loans held for sale, at fair value 19,536  
Loans held for investment, net 2,945,840 3,272,390
Loans held for investment, at fair value 951,990 276,095
Total loans, net 3,917,366 3,548,485
Accrued interest receivables 24,756 20,463
Receivables due from servicers $ 70,139 $ 65,644
Other Receivable, after Allowance for Credit Loss, Current, Related Party, Type [Extensible Enumeration] us-gaap:RelatedPartyMember us-gaap:RelatedPartyMember
Other receivables $ 236 $ 1,075
Real estate owned, net 29,299 13,325
Property and equipment, net 2,861 3,356
Deferred tax asset 705 5,033
Mortgage servicing rights, at fair value 9,786 9,238
Derivative Asset 1,261  
Goodwill 6,775 6,775
Other assets 7,028 13,525
Total assets 4,117,308 3,748,975
LIABILITIES    
Accounts payable and accrued expenses 97,869 91,525
Secured financing, net 210,774 209,846
Securitized debt, net 2,504,334 2,736,290
Securitized debt, at fair value 669,139  
Warehouse and repurchase facilities, net 215,176 330,814
Total liabilities 3,697,292 3,368,475
Commitments and contingencies
EQUITY    
Common stock ($0.01 par value, 100,000,000 shares authorized; 32,903,378 and 32,523,516 shares issued, 32,784,157 and 32,489,869 shares outstanding as of September 30, 2023 and December 31, 2022, respectively) 330 326
Treasury stock, at cost (119,221 and 33,647 common shares as of September 30, 2023 and December 31, 2022, respectively) (1,294) (458)
Additional paid-in capital 304,906 300,310
Retained earnings 111,551 76,633
Accumulated other comprehensive income, net of tax 905  
Total Velocity Financial Inc. stockholders' equity 416,398 376,811
Noncontrolling interest in subsidiary 3,618 3,689
Total equity 420,016 380,500
Total liabilities and equity $ 4,117,308 $ 3,748,975