XML 65 R58.htm IDEA: XBRL DOCUMENT v3.26.1

Loans Held for Investment at Amortized Cost and Loans Held for Investment at Fair Value - Schedule of Activity in Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Allowance for credit losses:
Beginning balance	$ 4,860	$ 5,017	$ 4,521	$ 4,174
Provision for credit losses	980	1,598	2,641	3,470
Charge-offs	(738)	(1,733)	(2,060)	(2,762)
Ending balance	5,102	4,882	5,102	4,882
Allowance for Loans Individually Evaluated	1,088	1,470	1,088	1,470	$ 1,019
Allowance related to Loans collectively evaluated	4,014	3,412	4,014	3,412
Amortized cost related to Loans individually evaluated	181,365	286,331	181,365	286,331
Amortized cost related to Loans collectively evaluated	1,646,776	1,945,271	1,646,776	1,945,271
Commercial - Purchase
Allowance for credit losses:
Beginning balance	300	655	345	662
Provision for credit losses	(7)	24	52	17
Ending balance	293	679	293	679
Allowance for Loans Individually Evaluated	76	79	76	79	76
Allowance related to Loans collectively evaluated	217	600	217	600
Amortized cost related to Loans individually evaluated	19,750	33,716	19,750	33,716
Amortized cost related to Loans collectively evaluated	425,571	498,663	425,571	498,663
Commercial - Refinance
Allowance for credit losses:
Beginning balance	2,303	2,129	1,858	1,399
Provision for credit losses	482	29	1,855	877
Charge-offs	(411)	(73)	(1,339)	(191)
Ending balance	2,374	2,085	2,374	2,085
Allowance for Loans Individually Evaluated	362	1,104	362	1,104	402
Allowance related to Loans collectively evaluated	2,013	981	2,013	981
Amortized cost related to Loans individually evaluated	59,806	95,099	59,806	95,099
Amortized cost related to Loans collectively evaluated	490,126	564,941	490,126	564,941
Residential 1-4 Unit - Purchase
Allowance for credit losses:
Beginning balance	748	840	771	746
Provision for credit losses	51	(9)	141	262
Charge-offs	(40)	(44)	(153)	(221)
Ending balance	759	787	759	787
Allowance for Loans Individually Evaluated	7	6	7	6	6
Allowance related to Loans collectively evaluated	752	781	752	781
Amortized cost related to Loans individually evaluated	18,115	26,164	18,115	26,164
Amortized cost related to Loans collectively evaluated	307,414	360,229	307,414	360,229
Residential 1-4 Unit - Refinance
Allowance for credit losses:
Beginning balance	1,497	1,297	1,540	1,281
Provision for credit losses	398	(14)	558	626
Charge-offs	(247)	(25)	(450)	(649)
Ending balance	1,648	1,258	1,648	1,258
Allowance for Loans Individually Evaluated	643	235	643	235	$ 535
Allowance related to Loans collectively evaluated	1,004	1,023	1,004	1,023
Amortized cost related to Loans individually evaluated	71,141	114,570	71,141	114,570
Amortized cost related to Loans collectively evaluated	387,425	488,239	387,425	488,239
Short Term 1-4 Unit - Purchase
Allowance for credit losses:
Beginning balance	12	38	7	12
Provision for credit losses	(6)	(11)	(1)	22
Charge-offs		0		(7)
Ending balance	6	27	6	27
Allowance related to Loans collectively evaluated	6	27	6	27
Amortized cost related to Loans individually evaluated	1,180	2,100	1,180	2,100
Amortized cost related to Loans collectively evaluated	31,691	28,493	31,691	28,493
Short Term 1-4 Unit - Refinance
Allowance for credit losses:
Beginning balance		58		74
Provision for credit losses	62	1,579	140	1,666
Charge-offs	(40)	(1,591)	(118)	(1,694)
Ending balance	22	46	22	46
Allowance for Loans Individually Evaluated		46		46
Allowance related to Loans collectively evaluated	22	0	22	0
Amortized cost related to Loans individually evaluated	11,373	14,682	11,373	14,682
Amortized cost related to Loans collectively evaluated	$ 4,549	$ 4,706	$ 4,549	$ 4,706

X

- Definition

Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479319/326-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477657/942-210-S45-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478478/942-210-S50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(7)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477263/942-210-45-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479319/326-20-50-13

Reference 7: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11B
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481962/310-10-50-11B

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-K (SK)
-Number 229
-Section 1405
-Paragraph c
-Publisher SEC

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-K (SK)
-Number 229
-Section 1405
-Paragraph a
-Subparagraph (1)
-Publisher SEC

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-K (SK)
-Number 229
-Section 1405
-Paragraph a
-Subparagraph (3)
-Publisher SEC

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(4))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479344/326-20-45-1

+ Details

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

X

- Definition

Amount of allowance for credit loss on financing receivable evaluated on collective basis. Excludes financing receivable evaluated on individual basis.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 4
-Subparagraph (SAB Topic 6.L.5.a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480418/310-10-S99-4

Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481962/310-10-50-11B

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 30
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479391/326-20-30-2

+ Details

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

X

- Definition

Amount of allowance for credit loss on financing receivable evaluated on individual basis. Excludes financing receivable evaluated on collective basis.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 4
-Subparagraph (SAB Topic 6.L.5.a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480418/310-10-S99-4

Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481962/310-10-50-11B

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 30
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479391/326-20-30-2

+ Details

Name:	us-gaap_FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	instant

X

- Definition

A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.

+ References

No definition available.

+ Details

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

X

- Definition

Amount of writeoff of financing receivable, charged against allowance for credit loss.

+ 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 13
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479319/326-20-50-13

Reference 3: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11B
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481962/310-10-50-11B

Reference 4: 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_FinancingReceivableAllowanceForCreditLossesWriteOffs
Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	debit
Period Type:	duration

X

- Definition

Amount of credit loss expense (reversal of expense) for financing receivable.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479319/326-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476148/220-40-50-22

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(11))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

+ Details

Name:	us-gaap_ProvisionForLoanLossesExpensed
Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	debit
Period Type:	duration

X

- Definition

Amortized cost of financing receivable collectively evaluated for impairment.

+ References

No definition available.

+ Details

Name:	vel_FinancingReceivableCollectivelyEvaluatedForImpairmentAmortizedCost
Namespace Prefix:	vel_
Data Type:	xbrli:monetaryItemType
Balance Type:	debit
Period Type:	instant

X

- Definition

Amortized cost of financing receivable individually evaluated for impairment.

+ References

No definition available.

+ Details

Name:	vel_FinancingReceivableIndividuallyEvaluatedForImpairmentAmortizedCost
Namespace Prefix:	vel_
Data Type:	xbrli:monetaryItemType
Balance Type:	debit
Period Type:	instant

X

- Details

Name:	us-gaap_FinancingReceivablePortfolioSegmentAxis=vel_CommercialPurchasePortfolioSegmentMember
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: