XML 73 R66.htm IDEA: XBRL DOCUMENT v3.25.3

Securitized Debt at Amortized Cost and Securitized Debt at Fair Value - Summary of Securitized Debt at Amortized Cost and Securitized Debt at Fair Value (Details) - USD ($)
$ in Thousands

Sep. 30, 2025

Dec. 31, 2024

Securitization or Asset-Backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]

Total securitized debt, at amortized cost

$ 1,783,150

$ 2,019,056

Securitized debt at fair value

3,748,889

2,207,408

Unpaid Principal Balance

Securitization or Asset-Backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]

Total securitized debt, at amortized cost

1,813,334

2,049,790

Securitized debt at fair value

3,739,705

2,219,218

Deferred Issuance Costs and Discounts

Securitization or Asset-Backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]

Total securitized debt, at amortized cost

(30,184)

(30,734)

Adjustment at Issuance to Recognize Fair Value

Securitization or Asset-Backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]

Securitized debt at fair value

^[1]

(26,608)

(18,231)

Fair Value at Issuance

Securitization or Asset-Backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]

Securitized debt at fair value

3,713,097

2,200,987

Valuation Adjustment Subsequent to Issuance

Securitization or Asset-Backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]

Securitized debt at fair value

^[2]

37,675

$ 6,421

Fair Value Adjustment Related To Refinance Of Securitization Trust

Securitization or Asset-Backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]

Securitized debt at fair value

$ (1,883)

[1]	Balance sheet adjustment to recognize fair value at issuance. This valuation adjustment is not recognized in net income.
[2]	Valuation adjustment recognized in net income. No valuation change is due to instrument specific credit risk as the Company’s (issuer) credit risk has not changed

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/2003/role/disclosureRef
-Topic 860
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481326/860-20-50-3

+ Details

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

X

- Definition

Securitizations at amortized cost.

+ References

No definition available.

+ Details

Name:	vel_SecuritizationsAtAmortizedCost
Namespace Prefix:	vel_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	instant

X

- Definition

Securitized debt, at fair value.

+ References

No definition available.

+ Details

Name:	vel_SecuritizedDebtAtFairValue
Namespace Prefix:	vel_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	instant

X

- Details

Name:	us-gaap_FinancialInstrumentPerformanceStatusAxis=vel_UnpaidPrincipalBalanceMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_FinancialInstrumentPerformanceStatusAxis=vel_DeferredIssuanceCostsAndDiscountsMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_FinancialInstrumentPerformanceStatusAxis=vel_AdjustmentAtIssuanceToRecognizeFairValueMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_FinancialInstrumentPerformanceStatusAxis=vel_FairValueAtIssuanceMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_FinancialInstrumentPerformanceStatusAxis=vel_ValuationAdjustmentSubsequentToIssuanceMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_FinancialInstrumentPerformanceStatusAxis=vel_FairValueAdjustmentRelatedToRefinanceOfSecuritizationTrustMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type: