2024 Q1 Form 10-K Financial Statement

#000095017024032142 Filed on March 15, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $92.23M $87.75M $319.0M
YoY Change 27.33% 32.91% 28.92%
Cost Of Revenue $7.698M $7.345M $30.55M
YoY Change 20.06% 126.49% 148.45%
Gross Profit $84.53M $80.41M $288.5M
YoY Change 28.03% 28.08% 22.67%
Gross Profit Margin 91.65% 91.63% 90.42%
Selling, General & Admin $17.97M $17.43M $54.87M
YoY Change 57.51% 30.82% 23.47%
% of Gross Profit 21.26% 21.67% 19.02%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $182.0K $185.0K $800.0K
YoY Change -6.67% -3.14% 0.0%
% of Gross Profit 0.22% 0.23% 0.28%
Operating Expenses -$585.0K $2.204M $13.35M
YoY Change -117.9% 242.24% -53.28%
Operating Profit $85.12M $78.20M $275.1M
YoY Change 35.63% 25.86% 33.18%
Interest Expense -$59.42M -$53.83M -$197.8M
YoY Change 28.71% 19.64% 25.85%
% of Operating Profit -69.82% -68.83% -71.91%
Other Income/Expense, Net -$2.455M -$2.066M -$6.154M
YoY Change 34.23% 274.95% -8891.43%
Pretax Income $23.24M $22.31M $71.13M
YoY Change 57.46% 90.79% 59.65%
Income Tax $5.903M $5.141M $18.83M
% Of Pretax Income 25.4% 23.05% 26.48%
Net Earnings $17.25M $17.36M $52.27M
YoY Change 62.0% 105.09% 62.28%
Net Earnings / Revenue 18.7% 19.78% 16.39%
Basic Earnings Per Share $0.52 $1.60
Diluted Earnings Per Share $0.49 $0.49 $1.52
COMMON SHARES
Basic Shares Outstanding 32.97M 32.78M 32.21M
Diluted Shares Outstanding 35.44M 34.48M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $34.83M $40.57M $40.57M
YoY Change -11.59% -10.35% -10.35%
Cash & Equivalents $34.83M $40.57M $40.57M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses $2.026M
Receivables $29.37M $27.03M $27.03M
Other Receivables $87.52M $85.08M $0.00
Total Short-Term Assets $64.20M $67.59M $67.59M
YoY Change 6.42% 2.87% 2.59%
LONG-TERM ASSETS
Property, Plant & Equipment $2.013M $2.785M $2.785M
YoY Change -37.27% -17.01% -51.82%
Goodwill $6.775M $6.775M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $1.967M
YoY Change
Other Assets $25.80M $23.70M $23.70M
YoY Change 34.5% 8.51% 6.08%
Total Long-Term Assets $4.564B $4.337B $4.337B
YoY Change 20.84% 17.75% 17.75%
TOTAL ASSETS
Total Short-Term Assets $64.20M $67.59M $67.59M
Total Long-Term Assets $4.564B $4.337B $4.337B
Total Assets $4.628B $4.405B $4.405B
YoY Change 20.62% 17.49% 17.49%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $124.0M $122.0M $122.0M
YoY Change 45.91% 33.26% 37.31%
Accrued Expenses $2.700M
YoY Change 0.0%
Deferred Revenue
YoY Change
Short-Term Debt $360.2M $334.8M $334.8M
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $484.2M $122.0M $122.0M
YoY Change 469.81% 33.26% 33.26%
LONG-TERM LIABILITIES
Long-Term Debt $3.688B $3.842B $3.842B
YoY Change 9.72% 17.25% 17.25%
Other Long-Term Liabilities $0.00 $3.665M $3.665M
YoY Change
Total Long-Term Liabilities $3.688B $3.846B $3.846B
YoY Change 9.72% 17.36% 17.36%
TOTAL LIABILITIES
Total Short-Term Liabilities $484.2M $122.0M $122.0M
Total Long-Term Liabilities $3.688B $3.846B $3.846B
Total Liabilities $4.172B $3.968B $3.971B
YoY Change 21.07% 17.79% 17.76%
SHAREHOLDERS EQUITY
Retained Earnings $146.2M $128.9M
YoY Change 67.45% 68.21%
Common Stock $334.0K $331.0K
YoY Change 1.83% 1.53%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.603M $1.319M
YoY Change 101.16% 187.99%
Treasury Stock Shares
Shareholders Equity $452.9M $433.4M $433.4M
YoY Change
Total Liabilities & Shareholders Equity $4.628B $4.405B $4.405B
YoY Change 20.62% 17.49% 17.49%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $17.25M $17.36M $52.27M
YoY Change 62.0% 105.09% 62.28%
Depreciation, Depletion And Amortization $182.0K $185.0K $800.0K
YoY Change -6.67% -3.14% 0.0%
Cash From Operating Activities $10.58M $26.16M $48.84M
YoY Change -188.71% -34.63% 0.33%
INVESTING ACTIVITIES
Capital Expenditures $41.00K $108.0K $180.0K
YoY Change -14.58% 103.77% -44.79%
Acquisitions
YoY Change
Other Investing Activities -$212.4M -$223.8M -$584.6M
YoY Change 196.94% 151.16% -35.46%
Cash From Investing Activities -$212.4M -$223.9M -$584.7M
YoY Change 196.8% 151.13% -35.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$1.444M
YoY Change 869.13%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 199.0M 212.6M 535.8M
YoY Change 156.81% 202.41% -38.7%
NET CHANGE
Cash From Operating Activities 10.58M 26.16M 48.84M
Cash From Investing Activities -212.4M -223.9M -584.7M
Cash From Financing Activities 199.0M 212.6M 535.8M
Net Change In Cash -2.882M 14.83M -129.0K
YoY Change -52.15% -29.88% -100.89%
FREE CASH FLOW
Cash From Operating Activities $10.58M $26.16M $48.84M
Capital Expenditures $41.00K $108.0K $180.0K
Free Cash Flow $10.54M $26.05M $48.66M
YoY Change -188.01% -34.82% 0.63%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2023 dei Entity Central Index Key
EntityCentralIndexKey
0001692376
CY2023 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2023 dei Amendment Flag
AmendmentFlag
false
CY2023Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2022Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2023 us-gaap Accounting Standards Update Extensible List
AccountingStandardsUpdateExtensibleList
http://fasb.org/us-gaap/2023#AccountingStandardsUpdate202202Member
CY2023 us-gaap Accounting Standards Update Extensible List
AccountingStandardsUpdateExtensibleList
http://fasb.org/us-gaap/2023#AccountingStandardsUpdate202202Member
CY2023 us-gaap Derivative Instrument Gain Loss Reclassified From Aoci Into Income Effective Portion Statement Of Income Or Comprehensive Income Extensible Enumeration
DerivativeInstrumentGainLossReclassifiedFromAociIntoIncomeEffectivePortionStatementOfIncomeOrComprehensiveIncomeExtensibleEnumeration
http://fasb.org/us-gaap/2023#InterestExpenseBorrowings
CY2023Q4 us-gaap Derivative Liability Current Statement Of Financial Position Extensible Enumeration
DerivativeLiabilityCurrentStatementOfFinancialPositionExtensibleEnumeration
http://fasb.org/us-gaap/2023#AccountsAndOtherReceivablesNetCurrent
CY2023Q4 us-gaap Operating Lease Right Of Use Asset Statement Of Financial Position Extensible List
OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList
http://fasb.org/us-gaap/2023#OtherAssets
CY2022Q4 us-gaap Operating Lease Right Of Use Asset Statement Of Financial Position Extensible List
OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList
http://fasb.org/us-gaap/2023#OtherAssets
CY2023Q4 us-gaap Operating Lease Liability Statement Of Financial Position Extensible List
OperatingLeaseLiabilityStatementOfFinancialPositionExtensibleList
http://fasb.org/us-gaap/2023#AccountsPayableAndAccruedLiabilitiesCurrent
CY2022Q4 us-gaap Operating Lease Liability Statement Of Financial Position Extensible List
OperatingLeaseLiabilityStatementOfFinancialPositionExtensibleList
http://fasb.org/us-gaap/2023#AccountsPayableAndAccruedLiabilitiesCurrent
CY2023 dei Document Type
DocumentType
10-K
CY2023 dei Document Annual Report
DocumentAnnualReport
true
CY2023 dei Document Period End Date
DocumentPeriodEndDate
2023-12-31
CY2023 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2023 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
CY2023 dei Document Transition Report
DocumentTransitionReport
false
CY2023 dei Entity File Number
EntityFileNumber
001-39183
CY2023 dei Entity Registrant Name
EntityRegistrantName
Velocity Financial, Inc.
CY2023 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
CY2023 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
46-0659719
CY2023 dei Entity Address Address Line1
EntityAddressAddressLine1
30699 Russell Ranch Road
CY2023 dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 295
CY2023 dei Entity Address City Or Town
EntityAddressCityOrTown
Westlake Village
CY2023 dei Entity Address State Or Province
EntityAddressStateOrProvince
CA
CY2023 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
91362
CY2023 dei City Area Code
CityAreaCode
818
CY2023 dei Local Phone Number
LocalPhoneNumber
532-3700
CY2023 dei Security12b Title
Security12bTitle
Common stock, par value $0.01 per share
CY2023 dei Trading Symbol
TradingSymbol
VEL
CY2023 dei Security Exchange Name
SecurityExchangeName
NYSE
CY2023 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2023 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2023 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2023 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2023 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2023 dei Entity Small Business
EntitySmallBusiness
true
CY2023 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2023 dei Icfr Auditor Attestation Flag
IcfrAuditorAttestationFlag
true
CY2023 dei Document Fin Stmt Error Correction Flag
DocumentFinStmtErrorCorrectionFlag
false
CY2023 dei Entity Shell Company
EntityShellCompany
false
CY2023Q2 dei Entity Public Float
EntityPublicFloat
100700000
CY2024Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
32965081
CY2023 dei Auditor Name
AuditorName
RSM US LLP
CY2023 dei Auditor Name
AuditorName
RSM US LLP
CY2023 dei Auditor Firm
AuditorFirmId
49
CY2023 dei Auditor Location
AuditorLocation
Los Angeles, California
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
40566000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
45248000
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
21361000
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
16808000
CY2023Q4 us-gaap Loans Held For Sale Fair Value Disclosure
LoansHeldForSaleFairValueDisclosure
17590000
CY2023Q4 vel Loans Held For Investment Net
LoansHeldForInvestmentNet
2828123000
CY2022Q4 vel Loans Held For Investment Net
LoansHeldForInvestmentNet
3272390000
CY2023Q4 vel Loans Held For Investment At Fair Value
LoansHeldForInvestmentAtFairValue
1306072000
CY2022Q4 vel Loans Held For Investment At Fair Value
LoansHeldForInvestmentAtFairValue
276095000
CY2023Q4 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
4151785000
CY2022Q4 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
3548485000
CY2023Q4 us-gaap Interest Receivable
InterestReceivable
27028000
CY2022Q4 us-gaap Interest Receivable
InterestReceivable
20463000
CY2023Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
85077000
CY2022Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
65644000
CY2023Q4 us-gaap Accounts And Other Receivables Net Current
AccountsAndOtherReceivablesNetCurrent
8763000
CY2022Q4 us-gaap Accounts And Other Receivables Net Current
AccountsAndOtherReceivablesNetCurrent
1075000
CY2023Q4 us-gaap Real Estate Acquired Through Foreclosure
RealEstateAcquiredThroughForeclosure
44268000
CY2022Q4 us-gaap Real Estate Acquired Through Foreclosure
RealEstateAcquiredThroughForeclosure
13325000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2785000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3356000
CY2023Q4 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
2339000
CY2022Q4 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
5033000
CY2023Q4 us-gaap Servicing Asset At Fair Value Amount
ServicingAssetAtFairValueAmount
8578000
CY2022Q4 us-gaap Servicing Asset At Fair Value Amount
ServicingAssetAtFairValueAmount
9238000
CY2023Q4 us-gaap Goodwill
Goodwill
6775000
CY2022Q4 us-gaap Goodwill
Goodwill
6775000
CY2023Q4 us-gaap Other Assets
OtherAssets
5248000
CY2022Q4 us-gaap Other Assets
OtherAssets
13525000
CY2023Q4 us-gaap Assets
Assets
4404573000
CY2022Q4 us-gaap Assets
Assets
3748975000
CY2023Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
121969000
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
91525000
CY2023Q4 us-gaap Securities Loaned
SecuritiesLoaned
211083000
CY2022Q4 us-gaap Securities Loaned
SecuritiesLoaned
209846000
CY2023Q4 vel Securitized Debt Net
SecuritizedDebtNet
2418811000
CY2022Q4 vel Securitized Debt Net
SecuritizedDebtNet
2736290000
CY2023Q4 vel Securitized Debt At Fair Value
SecuritizedDebtAtFairValue
877417000
CY2023Q4 vel Warehouse And Repurchase Facilities Net
WarehouseAndRepurchaseFacilitiesNet
334755000
CY2022Q4 vel Warehouse And Repurchase Facilities Net
WarehouseAndRepurchaseFacilitiesNet
330814000
CY2023Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
3665000
CY2023Q4 us-gaap Liabilities
Liabilities
3967700000
CY2022Q4 us-gaap Liabilities
Liabilities
3368475000
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
32987248
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
32523516
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
32865836
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
32489869
CY2023Q4 us-gaap Common Stock Value
CommonStockValue
331000
CY2022Q4 us-gaap Common Stock Value
CommonStockValue
326000
CY2023Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
306736000
CY2022Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
300310000
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
128906000
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
76633000
CY2023Q4 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
121412
CY2022Q4 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
33647
CY2023Q4 us-gaap Treasury Stock Value
TreasuryStockValue
1319000
CY2022Q4 us-gaap Treasury Stock Value
TreasuryStockValue
458000
CY2023Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-1210000
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
433444000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
376811000
CY2023Q4 us-gaap Minority Interest
MinorityInterest
3429000
CY2022Q4 us-gaap Minority Interest
MinorityInterest
3689000
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
436873000
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
380500000
CY2023Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
4404573000
CY2022Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
3748975000
CY2023 us-gaap Interest And Fee Income Loans And Leases Held In Portfolio
InterestAndFeeIncomeLoansAndLeasesHeldInPortfolio
310775000
CY2022 us-gaap Interest And Fee Income Loans And Leases Held In Portfolio
InterestAndFeeIncomeLoansAndLeasesHeldInPortfolio
240343000
CY2021 us-gaap Interest And Fee Income Loans And Leases Held In Portfolio
InterestAndFeeIncomeLoansAndLeasesHeldInPortfolio
181968000
CY2023 us-gaap Interest Expense Now Accounts Money Market Accounts And Savings Deposits
InterestExpenseNOWAccountsMoneyMarketAccountsAndSavingsDeposits
186468000
CY2022 us-gaap Interest Expense Now Accounts Money Market Accounts And Savings Deposits
InterestExpenseNOWAccountsMoneyMarketAccountsAndSavingsDeposits
127723000
CY2021 us-gaap Interest Expense Now Accounts Money Market Accounts And Savings Deposits
InterestExpenseNOWAccountsMoneyMarketAccountsAndSavingsDeposits
85386000
CY2023 vel Interest Income Now Accounts Money Market Accounts And Savings Deposits Net
InterestIncomeNOWAccountsMoneyMarketAccountsAndSavingsDepositsNet
124307000
CY2022 vel Interest Income Now Accounts Money Market Accounts And Savings Deposits Net
InterestIncomeNOWAccountsMoneyMarketAccountsAndSavingsDepositsNet
112620000
CY2021 vel Interest Income Now Accounts Money Market Accounts And Savings Deposits Net
InterestIncomeNOWAccountsMoneyMarketAccountsAndSavingsDepositsNet
96582000
CY2023 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
16556000
CY2022 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
29472000
CY2021 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
20609000
CY2023 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
107751000
CY2022 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
83148000
CY2021 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
75973000
CY2023 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
1915000
CY2022 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
1152000
CY2021 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
-292000
CY2023 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
105836000
CY2022 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
81996000
CY2021 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
76265000
CY2023 us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
8238000
CY2022 us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
7107000
CY2021 us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
7892000
CY2023 vel Unrealized Gain Loss On Fair Value Loans
UnrealizedGainLossOnFairValueLoans
47850000
CY2022 vel Unrealized Gain Loss On Fair Value Loans
UnrealizedGainLossOnFairValueLoans
8265000
CY2021 vel Unrealized Gain Loss On Fair Value Loans
UnrealizedGainLossOnFairValueLoans
29000
CY2023 vel Unrealized Gain On Mortgage Servicing Rights
UnrealizedGainOnMortgageServicingRights
-660000
CY2022 vel Unrealized Gain On Mortgage Servicing Rights
UnrealizedGainOnMortgageServicingRights
2086000
CY2023 vel Unrealized Gain Loss On Fair Value Securitized Debt
UnrealizedGainLossOnFairValueSecuritizedDebt
-9002000
CY2023 vel Other Operating Origination Income
OtherOperatingOriginationIncome
12450000
CY2022 vel Other Operating Origination Income
OtherOperatingOriginationIncome
5225000
CY2021 vel Other Operating Origination Income
OtherOperatingOriginationIncome
1610000
CY2023 vel Interest Income On Cash Balance
InterestIncomeOnCashBalance
5194000
CY2023 us-gaap Noninterest Income Other
NoninterestIncomeOther
1840000
CY2022 us-gaap Noninterest Income Other
NoninterestIncomeOther
1637000
CY2021 us-gaap Noninterest Income Other
NoninterestIncomeOther
267000
CY2023 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
65910000
CY2022 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
24320000
CY2021 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
9798000
CY2023 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
48344000
CY2022 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
30458000
CY2021 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
19190000
CY2023 vel Origination Income Expenses
OriginationIncomeExpenses
-518000
CY2022 vel Origination Income Expenses
OriginationIncomeExpenses
-3985000
CY2021 vel Origination Income Expenses
OriginationIncomeExpenses
-2174000
CY2023 vel Securitizations Expenses
SecuritizationsExpenses
12923000
CY2023 us-gaap Expense Related To Distribution Or Servicing And Underwriting Fees
ExpenseRelatedToDistributionOrServicingAndUnderwritingFees
17631000
CY2022 us-gaap Expense Related To Distribution Or Servicing And Underwriting Fees
ExpenseRelatedToDistributionOrServicingAndUnderwritingFees
12298000
CY2021 us-gaap Expense Related To Distribution Or Servicing And Underwriting Fees
ExpenseRelatedToDistributionOrServicingAndUnderwritingFees
8282000
CY2023 us-gaap Professional Fees
ProfessionalFees
4599000
CY2022 us-gaap Professional Fees
ProfessionalFees
4179000
CY2021 us-gaap Professional Fees
ProfessionalFees
3781000
CY2023 vel Rent And Occupancy
RentAndOccupancy
1927000
CY2022 vel Rent And Occupancy
RentAndOccupancy
1748000
CY2021 vel Rent And Occupancy
RentAndOccupancy
1769000
CY2023 vel Foreclosed Real Estate Expense Benefit
ForeclosedRealEstateExpenseBenefit
6153000
CY2023 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
51063000
CY2022 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
32211000
CY2021 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
29224000
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
219589000
CY2021 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
90144000
CY2021 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
1132000
CY2021 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
1020000
CY2021 us-gaap Profit Loss
ProfitLoss
29224000
CY2021 us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
3381000
CY2022 vel Foreclosed Real Estate Expense Benefit
ForeclosedRealEstateExpenseBenefit
-70000
CY2021 vel Foreclosed Real Estate Expense Benefit
ForeclosedRealEstateExpenseBenefit
3150000
CY2023 us-gaap Other Noninterest Expense
OtherNoninterestExpense
8524000
CY2022 us-gaap Other Noninterest Expense
OtherNoninterestExpense
9166000
CY2021 us-gaap Other Noninterest Expense
OtherNoninterestExpense
7924000
CY2023 us-gaap Noninterest Expense
NoninterestExpense
100619000
CY2022 us-gaap Noninterest Expense
NoninterestExpense
61764000
CY2021 us-gaap Noninterest Expense
NoninterestExpense
46270000
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
71127000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
44552000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
39793000
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
18834000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
12033000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
10569000
CY2023 us-gaap Profit Loss
ProfitLoss
52293000
CY2022 us-gaap Profit Loss
ProfitLoss
32519000
CY2021 us-gaap Profit Loss
ProfitLoss
29224000
CY2023 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
20000
CY2022 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
308000
CY2023 us-gaap Net Income Loss
NetIncomeLoss
52273000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
32211000
CY2021 us-gaap Net Income Loss
NetIncomeLoss
29224000
CY2023 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
753000
CY2022 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
491000
CY2021 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
8589000
CY2023 vel Net Earnings Attributable To Common Stockholders
NetEarningsAttributableToCommonStockholders
51520000
CY2022 vel Net Earnings Attributable To Common Stockholders
NetEarningsAttributableToCommonStockholders
31720000
CY2021 vel Net Earnings Attributable To Common Stockholders
NetEarningsAttributableToCommonStockholders
20635000
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.6
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.99
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.9
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.52
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.94
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.86
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32206000
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31913000
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22813000
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
34484000
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
34131000
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33982000
CY2023 us-gaap Net Income Loss
NetIncomeLoss
52273000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
32211000
CY2021 us-gaap Net Income Loss
NetIncomeLoss
29224000
CY2023 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
-1160000
CY2023 vel Other Comprehensive Income Loss Reclassification Of Derivative Gain To Income
OtherComprehensiveIncomeLossReclassificationOfDerivativeGainToIncome
-50000
CY2023 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1210000
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
344490000
CY2022 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
607000
CY2022 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
458000
CY2022 vel Change In Valuation Of Real Estate Owned
ChangeInValuationOfRealEstateOwned
364000
CY2021 vel Change In Valuation Of Real Estate Owned
ChangeInValuationOfRealEstateOwned
1759000
CY2023 vel Increase Decrease In Valuation Of Fair Value Loans
IncreaseDecreaseInValuationOfFairValueLoans
47850000
CY2022 vel Increase Decrease In Valuation Of Fair Value Loans
IncreaseDecreaseInValuationOfFairValueLoans
8265000
CY2021 vel Increase Decrease In Valuation Of Fair Value Loans
IncreaseDecreaseInValuationOfFairValueLoans
29000
CY2021 vel Increase Decrease In Valuation Of Held For Sale Loans
IncreaseDecreaseInValuationOfHeldForSaleLoans
17000
CY2022 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
3342000
CY2022 us-gaap Profit Loss
ProfitLoss
32519000
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
380500000
CY2023 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
2446000
CY2023 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
861000
CY2023 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
3985000
CY2023 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
280000
CY2023 us-gaap Profit Loss
ProfitLoss
52293000
CY2023 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1210000
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
436873000
CY2023 us-gaap Profit Loss
ProfitLoss
52293000
CY2022 us-gaap Profit Loss
ProfitLoss
32519000
CY2021 us-gaap Profit Loss
ProfitLoss
29224000
CY2023 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
752000
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
796000
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1119000
CY2023 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1545000
CY2022 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1320000
CY2021 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1292000
CY2023 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
1915000
CY2022 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
1152000
CY2021 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
-292000
CY2023 us-gaap Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
38036000
CY2022 us-gaap Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
31255000
CY2023 us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
25817000
CY2022 us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
32156000
CY2021 us-gaap Payments To Purchase Loans Held For Sale
PaymentsToPurchaseLoansHeldForSale
1500000
CY2021 vel Repayments On Loans Held For Sale
RepaymentsOnLoansHeldForSale
2673000
CY2023 vel Net Accretion Of Discount On Purchased Loans And Deferred Loan Origination Costs
NetAccretionOfDiscountOnPurchasedLoansAndDeferredLoanOriginationCosts
4813000
CY2022 vel Net Accretion Of Discount On Purchased Loans And Deferred Loan Origination Costs
NetAccretionOfDiscountOnPurchasedLoansAndDeferredLoanOriginationCosts
7009000
CY2021 vel Net Accretion Of Discount On Purchased Loans And Deferred Loan Origination Costs
NetAccretionOfDiscountOnPurchasedLoansAndDeferredLoanOriginationCosts
6519000
CY2023 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
721000
CY2022 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-175000
CY2021 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-80000
CY2023 us-gaap Gain Loss On Sale Of Mortgage Loans
GainLossOnSaleOfMortgageLoans
826000
CY2022 us-gaap Gain Loss On Sale Of Mortgage Loans
GainLossOnSaleOfMortgageLoans
3699000
CY2021 us-gaap Gain Loss On Sale Of Mortgage Loans
GainLossOnSaleOfMortgageLoans
6776000
CY2023 vel Real Estate Acquired Through Foreclosure In Excess Of Recorded Investment
RealEstateAcquiredThroughForeclosureInExcessOfRecordedInvestment
7412000
CY2022 vel Real Estate Acquired Through Foreclosure In Excess Of Recorded Investment
RealEstateAcquiredThroughForeclosureInExcessOfRecordedInvestment
3408000
CY2021 vel Real Estate Acquired Through Foreclosure In Excess Of Recorded Investment
RealEstateAcquiredThroughForeclosureInExcessOfRecordedInvestment
1117000
CY2023 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
18624000
CY2022 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
28294000
CY2021 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
20224000
CY2022 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-3000
CY2021 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-18000
CY2023 vel Change In Valuation Of Real Estate Owned
ChangeInValuationOfRealEstateOwned
3903000
CY2023 vel Increase Decrease In Valuation Of Mortage Servicing Rights
IncreaseDecreaseInValuationOfMortageServicingRights
-660000
CY2022 vel Increase Decrease In Valuation Of Mortage Servicing Rights
IncreaseDecreaseInValuationOfMortageServicingRights
2086000
CY2023 vel Increase Decrease In Valuation Of Fair Value Securitized Debt
IncreaseDecreaseInValuationOfFairValueSecuritizedDebt
-9002000
CY2023 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
568000
CY2022 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
2939000
CY2021 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
409000
CY2023 us-gaap Share Based Compensation
ShareBasedCompensation
4128000
CY2023 vel Proceeds From Warehouse Repurchase Facilities
ProceedsFromWarehouseRepurchaseFacilities
1192999000
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
3343000
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
2159000
CY2023 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
2694000
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
11571000
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-9950000
CY2023 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
13393000
CY2022 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
7421000
CY2021 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
3287000
CY2023 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-8361000
CY2022 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
8043000
CY2021 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
360000
CY2023 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
21692000
CY2022 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-2562000
CY2021 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
16452000
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
48835000
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
48674000
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
57622000
CY2023 us-gaap Payments To Acquire Loans Held For Investment
PaymentsToAcquireLoansHeldForInvestment
13823000
CY2022 us-gaap Payments To Acquire Loans Held For Investment
PaymentsToAcquireLoansHeldForInvestment
18231000
CY2021 us-gaap Payments To Acquire Loans Held For Investment
PaymentsToAcquireLoansHeldForInvestment
20586000
CY2023 vel Origination Of Loans Held For Investment
OriginationOfLoansHeldForInvestment
1079811000
CY2022 vel Origination Of Loans Held For Investment
OriginationOfLoansHeldForInvestment
1739572000
CY2021 vel Origination Of Loans Held For Investment
OriginationOfLoansHeldForInvestment
1344027000
CY2023 us-gaap Proceeds From Sale Of Loans Held For Investment
ProceedsFromSaleOfLoansHeldForInvestment
21485000
CY2022 us-gaap Proceeds From Sale Of Loans Held For Investment
ProceedsFromSaleOfLoansHeldForInvestment
292472000
CY2021 us-gaap Proceeds From Sale Of Loans Held For Investment
ProceedsFromSaleOfLoansHeldForInvestment
135787000
CY2023 us-gaap Proceeds From Principal Repayments On Loans And Leases Held For Investment
ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment
459681000
CY2022 us-gaap Proceeds From Principal Repayments On Loans And Leases Held For Investment
ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment
541676000
CY2021 us-gaap Proceeds From Principal Repayments On Loans And Leases Held For Investment
ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment
568837000
CY2023 us-gaap Proceeds From Sale Of Wholly Owned Real Estate And Real Estate Acquired In Settlement Of Loans
ProceedsFromSaleOfWhollyOwnedRealEstateAndRealEstateAcquiredInSettlementOfLoans
21747000
CY2022 us-gaap Proceeds From Sale Of Wholly Owned Real Estate And Real Estate Acquired In Settlement Of Loans
ProceedsFromSaleOfWhollyOwnedRealEstateAndRealEstateAcquiredInSettlementOfLoans
22497000
CY2021 us-gaap Proceeds From Sale Of Wholly Owned Real Estate And Real Estate Acquired In Settlement Of Loans
ProceedsFromSaleOfWhollyOwnedRealEstateAndRealEstateAcquiredInSettlementOfLoans
9637000
CY2022 vel Purchase Of Real Estate Owned
PurchaseOfRealEstateOwned
2250000
CY2021 vel Payments For Capitalized Real Estate Owned Improvements
PaymentsForCapitalizedRealEstateOwnedImprovements
194000
CY2023 vel Proceeds Repayments From Advances For Construction
ProceedsRepaymentsFromAdvancesForConstruction
-3039000
CY2022 vel Proceeds Repayments From Advances For Construction
ProceedsRepaymentsFromAdvancesForConstruction
-5414000
CY2021 vel Proceeds Repayments From Advances For Construction
ProceedsRepaymentsFromAdvancesForConstruction
-5429000
CY2023 vel Increase Decrease In Impounds And Deposits
IncreaseDecreaseInImpoundsAndDeposits
9208000
CY2022 vel Increase Decrease In Impounds And Deposits
IncreaseDecreaseInImpoundsAndDeposits
910000
CY2021 vel Increase Decrease In Impounds And Deposits
IncreaseDecreaseInImpoundsAndDeposits
9202000
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
180000
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
326000
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
135000
CY2021 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
1180000
CY2021 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
10755000
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-584732000
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-908238000
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-656483000
CY2022 vel Proceeds From Warehouse Repurchase Facilities
ProceedsFromWarehouseRepurchaseFacilities
1687005000
CY2021 vel Proceeds From Warehouse Repurchase Facilities
ProceedsFromWarehouseRepurchaseFacilities
1215971000
CY2023 vel Repayment Of Warehouse Repurchase Facilities
RepaymentOfWarehouseRepurchaseFacilities
1191642000
CY2022 vel Repayment Of Warehouse Repurchase Facilities
RepaymentOfWarehouseRepurchaseFacilities
1658065000
CY2021 vel Repayment Of Warehouse Repurchase Facilities
RepaymentOfWarehouseRepurchaseFacilities
989374000
CY2022 us-gaap Proceeds From Repayments Of Secured Debt
ProceedsFromRepaymentsOfSecuredDebt
215000000
CY2021 us-gaap Proceeds From Repayments Of Secured Debt
ProceedsFromRepaymentsOfSecuredDebt
175000000
CY2022 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
170844000
CY2021 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
82156000
CY2023 vel Proceeds Of Securitizations Net
ProceedsOfSecuritizationsNet
975072000
CY2022 vel Proceeds Of Securitizations Net
ProceedsOfSecuritizationsNet
1369985000
CY2021 vel Proceeds Of Securitizations Net
ProceedsOfSecuritizationsNet
977678000
CY2023 vel Repayment Of Securitizations
RepaymentOfSecuritizations
438763000
CY2022 vel Repayment Of Securitizations
RepaymentOfSecuritizations
543620000
CY2021 vel Repayment Of Securitizations
RepaymentOfSecuritizations
643500000
CY2023 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
3062000
CY2022 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
25594000
CY2021 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
27024000
CY2023 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2305000
CY2022 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
607000
CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
137000
CY2021 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
560000
CY2023 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
861000
CY2022 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
458000
CY2023 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
280000
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
535768000
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
874016000
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
626172000
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-129000
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
14452000
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
27311000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
62056000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
47604000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
20293000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
61927000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
62056000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
47604000
CY2023 us-gaap Interest Paid Net
InterestPaidNet
180364000
CY2022 us-gaap Interest Paid Net
InterestPaidNet
118711000
CY2021 us-gaap Interest Paid Net
InterestPaidNet
85019000
CY2023 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
7648000
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
23039000
CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
9645000
CY2023 us-gaap Transfer Of Loans Held For Sale To Portfolio Loans1
TransferOfLoansHeldForSaleToPortfolioLoans1
42029000
CY2022 us-gaap Transfer Of Loans Held For Sale To Portfolio Loans1
TransferOfLoansHeldForSaleToPortfolioLoans1
279233000
CY2021 us-gaap Transfer Of Loans Held For Sale To Portfolio Loans1
TransferOfLoansHeldForSaleToPortfolioLoans1
205671000
CY2023 us-gaap Transfer To Other Real Estate
TransferToOtherRealEstate
48614000
CY2022 us-gaap Transfer To Other Real Estate
TransferToOtherRealEstate
10031000
CY2021 us-gaap Transfer To Other Real Estate
TransferToOtherRealEstate
11466000
CY2023 vel Capitalized Interest On Loans Held For Investment
CapitalizedInterestOnLoansHeldForInvestment
2395000
CY2022 vel Capitalized Interest On Loans Held For Investment
CapitalizedInterestOnLoansHeldForInvestment
1399000
CY2021 vel Capitalized Interest On Loans Held For Investment
CapitalizedInterestOnLoansHeldForInvestment
2046000
CY2023 us-gaap Transfer Of Portfolio Loans And Leases To Held For Sale1
TransferOfPortfolioLoansAndLeasesToHeldForSale1
16246000
CY2022 us-gaap Transfer Of Portfolio Loans And Leases To Held For Sale1
TransferOfPortfolioLoansAndLeasesToHeldForSale1
77190000
CY2021 us-gaap Transfer Of Portfolio Loans And Leases To Held For Sale1
TransferOfPortfolioLoansAndLeasesToHeldForSale1
11137000
CY2023 us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
1636000
CY2022 us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
23398000
CY2021 us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
2051000
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1689000
CY2021 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
90000000
CY2021 us-gaap Noncash Or Part Noncash Acquisition Investments Acquired1
NoncashOrPartNoncashAcquisitionInvestmentsAcquired1
1181000
CY2021 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
688000
CY2021 vel Noncash Or Part Noncash Acquisition Mortgage Servicing Rights
NoncashOrPartNoncashAcquisitionMortgageServicingRights
7152000
CY2021 us-gaap Noncash Or Part Noncash Acquisition Other Assets Acquired1
NoncashOrPartNoncashAcquisitionOtherAssetsAcquired1
154000
CY2021 vel Noncash Or Part Noncash Acquisition Goodwill
NoncashOrPartNoncashAcquisitionGoodwill
6775000
CY2021 us-gaap Liabilities Assumed1
LiabilitiesAssumed1
1814000
CY2023 dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2012-07-09
CY2023Q4 us-gaap Minimum Net Worth Required For Compliance
MinimumNetWorthRequiredForCompliance
250000
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of consolidated income and expenses during the reporting period.</span></p>
CY2023 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Reclassifications</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Certain amounts previously reported have been reclassified to conform to the current year presentation. These reclassifications had no effect on the previously reported net income.</span></p>
CY2023Q4 us-gaap Change In Accounting Principle Accounting Standards Update Adopted
ChangeInAccountingPrincipleAccountingStandardsUpdateAdopted
true
CY2023Q4 us-gaap Change In Accounting Principle Accounting Standards Update Adoption Date
ChangeInAccountingPrincipleAccountingStandardsUpdateAdoptionDate
2023-01-01
CY2023Q4 vel Off Balance Sheet Assets Liabilities
OffBalanceSheetAssetsLiabilities
0
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Percentage Of Outstanding Stock Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfOutstandingStockMaximum
0.85
CY2023Q4 us-gaap Change In Accounting Principle Accounting Standards Update Adopted
ChangeInAccountingPrincipleAccountingStandardsUpdateAdopted
true
CY2023Q4 us-gaap Change In Accounting Principle Accounting Standards Update Immaterial Effect
ChangeInAccountingPrincipleAccountingStandardsUpdateImmaterialEffect
true
CY2023Q4 us-gaap Escrow Deposit
EscrowDeposit
79700000
CY2022Q4 us-gaap Escrow Deposit
EscrowDeposit
68500000
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
40566000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
45248000
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
35965000
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
21361000
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
16808000
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
11639000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
61927000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
62056000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
47604000
CY2023Q4 vel Securitizations Issued
SecuritizationsIssued
3657571000
CY2022Q4 vel Securitizations Issued
SecuritizationsIssued
3075047000
CY2023Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
325354000
CY2023Q4 us-gaap Financing Receivable Nonaccrual No Allowance
FinancingReceivableNonaccrualNoAllowance
315906000
CY2023Q4 vel Financing Receivable Nonaccrual With Allowance For Loan Loss
FinancingReceivableNonaccrualWithAllowanceForLoanLoss
9449000
CY2023Q4 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
974000
CY2022Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
295339000
CY2022Q4 us-gaap Financing Receivable Nonaccrual No Allowance
FinancingReceivableNonaccrualNoAllowance
282777000
CY2022Q4 vel Financing Receivable Nonaccrual With Allowance For Loan Loss
FinancingReceivableNonaccrualWithAllowanceForLoanLoss
12562000
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
1096000
CY2022Q4 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
165000
CY2023 vel Financing Receivable Amortized Cost
FinancingReceivableAmortizedCost
2832892000
CY2023 us-gaap Financing Receivable Accrued Interest Writeoff
FinancingReceivableAccruedInterestWriteoff
-7662000
CY2022 vel Financing Receivable Amortized Cost
FinancingReceivableAmortizedCost
3277284000
CY2022 us-gaap Financing Receivable Accrued Interest Writeoff
FinancingReceivableAccruedInterestWriteoff
-4872000
CY2023 us-gaap Impaired Financing Receivable With No Related Allowance Interest Income Cash Basis Method
ImpairedFinancingReceivableWithNoRelatedAllowanceInterestIncomeCashBasisMethod
30600000
CY2022 us-gaap Impaired Financing Receivable With No Related Allowance Interest Income Cash Basis Method
ImpairedFinancingReceivableWithNoRelatedAllowanceInterestIncomeCashBasisMethod
27300000
CY2023 us-gaap Financing Receivable Nonaccrual Interest Income
FinancingReceivableNonaccrualInterestIncome
0
CY2022 us-gaap Financing Receivable Nonaccrual Interest Income
FinancingReceivableNonaccrualInterestIncome
0
CY2023 us-gaap Impaired Financing Receivable With No Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceAverageRecordedInvestment
331400000
CY2022 us-gaap Impaired Financing Receivable With No Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceAverageRecordedInvestment
269400000
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
4893000
CY2023 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
1915000
CY2023 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
2039000
CY2023Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
4769000
CY2023Q4 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
974000
CY2023Q4 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
3795000
CY2023Q4 vel Financing Receivable Individually Evaluated For Impairment Amortized Cost
FinancingReceivableIndividuallyEvaluatedForImpairmentAmortizedCost
325354000
CY2023Q4 vel Financing Receivable Collectively Evaluated For Impairment Amortized Cost
FinancingReceivableCollectivelyEvaluatedForImpairmentAmortizedCost
2507538000
CY2021Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
4262000
CY2022 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
1152000
CY2022 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
521000
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
4893000
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
1096000
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
3797000
CY2022Q4 vel Financing Receivable Individually Evaluated For Impairment Amortized Cost
FinancingReceivableIndividuallyEvaluatedForImpairmentAmortizedCost
295339000
CY2022Q4 vel Financing Receivable Collectively Evaluated For Impairment Amortized Cost
FinancingReceivableCollectivelyEvaluatedForImpairmentAmortizedCost
2981945000
CY2023 vel Aggregate Cost Of Mortgage Loans Federal Income Tax
AggregateCostOfMortgageLoansFederalIncomeTax
4156554000
CY2022 vel Aggregate Cost Of Mortgage Loans Federal Income Tax
AggregateCostOfMortgageLoansFederalIncomeTax
3553379000
CY2023Q4 vel Unpaid Principal Balance
UnpaidPrincipalBalance
188500000
CY2022Q4 vel Unpaid Principal Balance
UnpaidPrincipalBalance
168400000
CY2023Q4 vel Loan Principal Payments Due From Servicers Current
LoanPrincipalPaymentsDueFromServicersCurrent
41425000
CY2023Q4 vel Other Loan Servicing Receivables Current
OtherLoanServicingReceivablesCurrent
16371000
CY2023Q4 vel Loan Servicing Receivables Current
LoanServicingReceivablesCurrent
57796000
CY2023Q4 vel Corporate And Escrow Advances Receivable Current
CorporateAndEscrowAdvancesReceivableCurrent
27281000
CY2023Q4 vel Receivables Due From Services
ReceivablesDueFromServices
85077000
CY2022Q4 vel Loan Principal Payments Due From Servicers Current
LoanPrincipalPaymentsDueFromServicersCurrent
25064000
CY2022Q4 vel Other Loan Servicing Receivables Current
OtherLoanServicingReceivablesCurrent
15616000
CY2022Q4 vel Loan Servicing Receivables Current
LoanServicingReceivablesCurrent
40680000
CY2022Q4 vel Corporate And Escrow Advances Receivable Current
CorporateAndEscrowAdvancesReceivableCurrent
24964000
CY2022Q4 vel Receivables Due From Services
ReceivablesDueFromServices
65644000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
10403000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
10256000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7618000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
6900000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2785000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3356000
CY2023 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
800000
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
800000
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1100000
CY2022Q4 us-gaap Other Real Estate
OtherRealEstate
13325000
CY2021Q4 us-gaap Other Real Estate
OtherRealEstate
17557000
CY2020Q4 us-gaap Other Real Estate
OtherRealEstate
15767000
CY2023 us-gaap Other Real Estate Additions
OtherRealEstateAdditions
56025000
CY2022 us-gaap Other Real Estate Additions
OtherRealEstateAdditions
13439000
CY2021 us-gaap Other Real Estate Additions
OtherRealEstateAdditions
12583000
CY2021 us-gaap Other Real Estate Improvements
OtherRealEstateImprovements
194000
CY2023 us-gaap Other Real Estate Disposals
OtherRealEstateDisposals
21179000
CY2022 us-gaap Other Real Estate Disposals
OtherRealEstateDisposals
19558000
CY2021 us-gaap Other Real Estate Disposals
OtherRealEstateDisposals
9228000
CY2022 us-gaap Other Real Estate Period Increase Decrease
OtherRealEstatePeriodIncreaseDecrease
2250000
CY2023 us-gaap Other Real Estate Valuation Adjustments
OtherRealEstateValuationAdjustments
-3903000
CY2022 us-gaap Other Real Estate Valuation Adjustments
OtherRealEstateValuationAdjustments
-363000
CY2021 us-gaap Other Real Estate Valuation Adjustments
OtherRealEstateValuationAdjustments
-1759000
CY2023Q4 us-gaap Other Real Estate
OtherRealEstate
44268000
CY2022Q4 us-gaap Other Real Estate
OtherRealEstate
13325000
CY2021Q4 us-gaap Other Real Estate
OtherRealEstate
17557000
CY2022 vel Other Real Estate Operating Income
OtherRealEstateOperatingIncome
275000
CY2021 vel Other Real Estate Operating Income
OtherRealEstateOperatingIncome
451000
CY2023 vel Other Real Estate Operating Expenses
OtherRealEstateOperatingExpenses
2818000
CY2022 vel Other Real Estate Operating Expenses
OtherRealEstateOperatingExpenses
2781000
CY2021 vel Other Real Estate Operating Expenses
OtherRealEstateOperatingExpenses
2251000
CY2023 us-gaap Other Real Estate Valuation Adjustments
OtherRealEstateValuationAdjustments
-3903000
CY2022 us-gaap Other Real Estate Valuation Adjustments
OtherRealEstateValuationAdjustments
-363000
CY2021 us-gaap Other Real Estate Valuation Adjustments
OtherRealEstateValuationAdjustments
-1759000
CY2023 us-gaap Gains Losses On Sales Of Other Real Estate
GainsLossesOnSalesOfOtherRealEstate
568000
CY2022 us-gaap Gains Losses On Sales Of Other Real Estate
GainsLossesOnSalesOfOtherRealEstate
2939000
CY2022 vel Other Real Estate Net
OtherRealEstateNet
-70000
CY2021 vel Other Real Estate Net
OtherRealEstateNet
3150000
CY2021 us-gaap Gains Losses On Sales Of Other Real Estate
GainsLossesOnSalesOfOtherRealEstate
409000
CY2023 vel Other Real Estate Net
OtherRealEstateNet
6153000
CY2023 vel Gross Gains On Sales Of Properties Sold Other Real Estate
GrossGainsOnSalesOfPropertiesSoldOtherRealEstate
24
CY2023 vel Gross Gains On Sales Of Other Real Estate
GrossGainsOnSalesOfOtherRealEstate
1442000
CY2022 vel Gross Gains On Sales Of Properties Sold Other Real Estate
GrossGainsOnSalesOfPropertiesSoldOtherRealEstate
31
CY2022 vel Gross Gains On Sales Of Other Real Estate
GrossGainsOnSalesOfOtherRealEstate
3401000
CY2021 vel Gross Gains On Sales Of Properties Sold Other Real Estate
GrossGainsOnSalesOfPropertiesSoldOtherRealEstate
23
CY2021 vel Gross Gains On Sales Of Other Real Estate
GrossGainsOnSalesOfOtherRealEstate
972000
CY2023 vel Gross Losses On Sales Of Properties Sold Other Real Estate
GrossLossesOnSalesOfPropertiesSoldOtherRealEstate
19
CY2023 vel Gross Losses On Sales Of Other Real Estate
GrossLossesOnSalesOfOtherRealEstate
874000
CY2022 vel Gross Losses On Sales Of Properties Sold Other Real Estate
GrossLossesOnSalesOfPropertiesSoldOtherRealEstate
12
CY2022 vel Gross Losses On Sales Of Other Real Estate
GrossLossesOnSalesOfOtherRealEstate
462000
CY2021 vel Gross Losses On Sales Of Properties Sold Other Real Estate
GrossLossesOnSalesOfPropertiesSoldOtherRealEstate
14
CY2021 vel Gross Losses On Sales Of Other Real Estate
GrossLossesOnSalesOfOtherRealEstate
563000
CY2023 vel Total Sales Of Properties Sold Other Real Estate
TotalSalesOfPropertiesSoldOtherRealEstate
43
CY2023 us-gaap Gains Losses On Sales Of Other Real Estate
GainsLossesOnSalesOfOtherRealEstate
568000
CY2022 vel Total Sales Of Properties Sold Other Real Estate
TotalSalesOfPropertiesSoldOtherRealEstate
43
CY2022 us-gaap Gains Losses On Sales Of Other Real Estate
GainsLossesOnSalesOfOtherRealEstate
2939000
CY2021 vel Total Sales Of Properties Sold Other Real Estate
TotalSalesOfPropertiesSoldOtherRealEstate
37
CY2021 us-gaap Gains Losses On Sales Of Other Real Estate
GainsLossesOnSalesOfOtherRealEstate
409000
CY2023Q4 vel Servicing Asset At Unpaid Principal Balance Amount
ServicingAssetAtUnpaidPrincipalBalanceAmount
490900000
CY2022Q4 vel Servicing Asset At Unpaid Principal Balance Amount
ServicingAssetAtUnpaidPrincipalBalanceAmount
491900000
CY2023 us-gaap Servicing Assets And Servicing Liabilities At Fair Value Assumptions Used To Estimate Fair Value Discount Rate
ServicingAssetsAndServicingLiabilitiesAtFairValueAssumptionsUsedToEstimateFairValueDiscountRate
0.08
CY2022 us-gaap Servicing Assets And Servicing Liabilities At Fair Value Assumptions Used To Estimate Fair Value Discount Rate
ServicingAssetsAndServicingLiabilitiesAtFairValueAssumptionsUsedToEstimateFairValueDiscountRate
0.081
CY2021 us-gaap Servicing Assets And Servicing Liabilities At Fair Value Assumptions Used To Estimate Fair Value Discount Rate
ServicingAssetsAndServicingLiabilitiesAtFairValueAssumptionsUsedToEstimateFairValueDiscountRate
0.08
CY2023 us-gaap Servicing Assets And Servicing Liabilities At Fair Value Assumptions Used To Estimate Fair Value Prepayment Speed
ServicingAssetsAndServicingLiabilitiesAtFairValueAssumptionsUsedToEstimateFairValuePrepaymentSpeed
0.065
CY2022 us-gaap Servicing Assets And Servicing Liabilities At Fair Value Assumptions Used To Estimate Fair Value Prepayment Speed
ServicingAssetsAndServicingLiabilitiesAtFairValueAssumptionsUsedToEstimateFairValuePrepaymentSpeed
0.063
CY2021 us-gaap Servicing Assets And Servicing Liabilities At Fair Value Assumptions Used To Estimate Fair Value Prepayment Speed
ServicingAssetsAndServicingLiabilitiesAtFairValueAssumptionsUsedToEstimateFairValuePrepaymentSpeed
0.032
CY2022Q4 us-gaap Servicing Asset At Fair Value Amount
ServicingAssetAtFairValueAmount
9238000
CY2021Q4 us-gaap Servicing Asset At Fair Value Amount
ServicingAssetAtFairValueAmount
7152000
CY2021 vel Servicing Asset At Fair Value Acquired
ServicingAssetAtFairValueAcquired
7152000
CY2023 us-gaap Servicing Asset At Fair Value Additions
ServicingAssetAtFairValueAdditions
250000
CY2023 vel Servicing Rights Fair Value Adjustments
ServicingRightsFairValueAdjustments
-910000
CY2022 vel Servicing Rights Fair Value Adjustments
ServicingRightsFairValueAdjustments
2086000
CY2023Q4 us-gaap Servicing Asset At Fair Value Amount
ServicingAssetAtFairValueAmount
8578000
CY2022Q4 us-gaap Servicing Asset At Fair Value Amount
ServicingAssetAtFairValueAmount
9238000
CY2021Q4 us-gaap Servicing Asset At Fair Value Amount
ServicingAssetAtFairValueAmount
7152000
CY2023 us-gaap Maximum Length Of Time Hedged In Cash Flow Hedge1
MaximumLengthOfTimeHedgedInCashFlowHedge1
P4Y
CY2023 us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
50000
CY2023Q4 us-gaap Aoci Loss Cash Flow Hedge Cumulative Gain Loss After Tax
AociLossCashFlowHedgeCumulativeGainLossAfterTax
-1200000
CY2023 us-gaap Derivative Instruments Gain Loss Reclassification From Accumulated Oci To Income Estimated Net Amount To Be Transferred
DerivativeInstrumentsGainLossReclassificationFromAccumulatedOCIToIncomeEstimatedNetAmountToBeTransferred
-300000
CY2023Q4 us-gaap Securities Held As Collateral At Fair Value
SecuritiesHeldAsCollateralAtFairValue
4200000
CY2023 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
1637000
CY2023 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
427000
CY2023 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1210000
CY2023 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2022 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2023Q4 us-gaap Goodwill
Goodwill
6775000
CY2021Q4 us-gaap Goodwill
Goodwill
6775000
CY2023 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
0
CY2022 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
0
CY2023Q4 us-gaap Goodwill
Goodwill
6775000
CY2022Q4 us-gaap Goodwill
Goodwill
6775000
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
2026000
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1843000
CY2023Q4 us-gaap Deposits Assets
DepositsAssets
190000
CY2022Q4 us-gaap Deposits Assets
DepositsAssets
176000
CY2023Q4 us-gaap Other Deferred Costs Net
OtherDeferredCostsNet
500000
CY2022Q4 us-gaap Other Deferred Costs Net
OtherDeferredCostsNet
501000
CY2022Q4 us-gaap Income Tax Receivable
IncomeTaxReceivable
8301000
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2544000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2424000
CY2023Q4 vel Appraisal Fees For Loans In Process
AppraisalFeesForLoansInProcess
-172000
CY2022Q4 vel Appraisal Fees For Loans In Process
AppraisalFeesForLoansInProcess
-58000
CY2023Q4 vel Retained Beneficial Interest Other Assets
RetainedBeneficialInterestOtherAssets
160000
CY2022Q4 vel Retained Beneficial Interest Other Assets
RetainedBeneficialInterestOtherAssets
338000
CY2023Q4 us-gaap Other Assets
OtherAssets
5248000
CY2022Q4 us-gaap Other Assets
OtherAssets
13525000
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0772
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0588
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0586
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y3M18D
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2500000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2400000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
2700000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
2700000
CY2023 us-gaap Operating Lease Expense
OperatingLeaseExpense
1900000
CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
1700000
CY2021 us-gaap Operating Lease Expense
OperatingLeaseExpense
1800000
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
1602000
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
1632000
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
1626000
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1689000
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
26000
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
256000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1289000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
513000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
325000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
277000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
233000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
617000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
3254000
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
553000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
2701000
CY2023Q4 vel Securitized Debt Net
SecuritizedDebtNet
2418811000
CY2023Q4 vel Securitized Debt At Fair Value
SecuritizedDebtAtFairValue
877417000
CY2023Q4 vel Total Securitized Debt
TotalSecuritizedDebt
3296228000
CY2022Q4 vel Securitized Debt Net
SecuritizedDebtNet
2736290000
CY2022Q4 vel Total Securitized Debt
TotalSecuritizedDebt
2736290000
CY2023Q4 vel Securitized Debt Average Outstanding Unpaid Principal Balance
SecuritizedDebtAverageOutstandingUnpaidPrincipalBalance
3113500000
CY2022Q4 vel Securitized Debt Average Outstanding Unpaid Principal Balance
SecuritizedDebtAverageOutstandingUnpaidPrincipalBalance
2458332000
CY2023 vel Securitized Debt Effective Interest Rate
SecuritizedDebtEffectiveInterestRate
0.0529
CY2022 vel Securitized Debt Effective Interest Rate
SecuritizedDebtEffectiveInterestRate
0.0449
CY2023 vel Securitized Debt Average Interest Rate
SecuritizedDebtAverageInterestRate
-0.0479
CY2023 vel Securitized Debt Issuance Cost Amortization Interest Rate
SecuritizedDebtIssuanceCostAmortizationInterestRate
-0.005
CY2022 vel Securitized Debt Average Interest Rate
SecuritizedDebtAverageInterestRate
-0.0378
CY2022 vel Securitized Debt Issuance Cost Amortization Interest Rate
SecuritizedDebtIssuanceCostAmortizationInterestRate
-0.0071
CY2023Q4 vel Securities Issued On Real Estate
SecuritiesIssuedOnRealEstate
5340205000
CY2023Q4 vel Securities Retained On Real Estate As Of Issuance Date
SecuritiesRetainedOnRealEstateAsOfIssuanceDate
535806000
CY2023Q4 vel Securities Retained On Real Estate Net
SecuritiesRetainedOnRealEstateNet
275711000
CY2022Q4 vel Securities Retained On Real Estate Net
SecuritiesRetainedOnRealEstateNet
236515000
CY2023Q4 vel Securitizations Outstanding Bond Balance
SecuritizationsOutstandingBondBalance
3335143000
CY2022Q4 vel Securitizations Outstanding Bond Balance
SecuritizationsOutstandingBondBalance
2788909000
CY2023Q4 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
16758000
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
21527000
CY2023Q4 vel Capitalized Issuance Costs
CapitalizedIssuanceCosts
22870000
CY2022Q4 vel Capitalized Issuance Costs
CapitalizedIssuanceCosts
31092000
CY2023 vel Lines Of Credit Fund Maximum Percentage Of Principle Balance Of Mortgage Loans
LinesOfCreditFundMaximumPercentageOfPrincipleBalanceOfMortgageLoans
1
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
336351000
CY2023Q4 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
890530000
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
331740000
CY2022Q4 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
831818000
CY2023 vel Debt Instrument Average Rate
DebtInstrumentAverageRate
0.0876
CY2022 vel Debt Instrument Average Rate
DebtInstrumentAverageRate
0.0522
CY2021 vel Debt Instrument Average Rate
DebtInstrumentAverageRate
0.0423
CY2023 vel Debt Issuance Cost Amortization Percentage
DebtIssuanceCostAmortizationPercentage
0.0077
CY2022 vel Debt Issuance Cost Amortization Percentage
DebtIssuanceCostAmortizationPercentage
0.0062
CY2021 vel Debt Issuance Cost Amortization Percentage
DebtIssuanceCostAmortizationPercentage
0.0105
CY2023 us-gaap Interest Expense Now Accounts Money Market Accounts And Savings Deposits
InterestExpenseNOWAccountsMoneyMarketAccountsAndSavingsDeposits
186468000
CY2022 us-gaap Interest Expense Now Accounts Money Market Accounts And Savings Deposits
InterestExpenseNOWAccountsMoneyMarketAccountsAndSavingsDeposits
127723000
CY2021 us-gaap Interest Expense Now Accounts Money Market Accounts And Savings Deposits
InterestExpenseNOWAccountsMoneyMarketAccountsAndSavingsDeposits
85386000
CY2023 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
16556000
CY2022 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
29472000
CY2021 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
20609000
CY2023 us-gaap Interest Expense Debt
InterestExpenseDebt
203024000
CY2022 us-gaap Interest Expense Debt
InterestExpenseDebt
157195000
CY2021 us-gaap Interest Expense Debt
InterestExpenseDebt
105995000
CY2023 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
13631000
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
-90000
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
15042000
CY2023 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
2509000
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
552000
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
5477000
CY2023 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
16140000
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
462000
CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
20519000
CY2023 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
1654000
CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
8553000
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-7362000
CY2023 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
1040000
CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
3018000
CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-2588000
CY2023 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
2694000
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
11571000
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-9950000
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
18834000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
12033000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
10569000
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2023 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.062
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.063
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.056
CY2023 vel Effective Income Tax Rate Reconciliation Permanent Items Percent
EffectiveIncomeTaxRateReconciliationPermanentItemsPercent
0.006
CY2022 vel Effective Income Tax Rate Reconciliation Permanent Items Percent
EffectiveIncomeTaxRateReconciliationPermanentItemsPercent
0.002
CY2021 vel Effective Income Tax Rate Reconciliation Permanent Items Percent
EffectiveIncomeTaxRateReconciliationPermanentItemsPercent
0.001
CY2023 vel Effective Income Tax Rate Reconciliation Federal True Ups Percent
EffectiveIncomeTaxRateReconciliationFederalTrueUpsPercent
0.001
CY2023 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.003
CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.003
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.002
CY2023 vel Effective Income Tax Rate Reconciliation Change In Unrecognized Tax Benefit
EffectiveIncomeTaxRateReconciliationChangeInUnrecognizedTaxBenefit
0.023
CY2023 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
-0.001
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
0.001
CY2023 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.252
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.272
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.266
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
8451000
CY2022Q4 vel Deferred Tax Assets Mark To Market Loans
DeferredTaxAssetsMarkToMarketLoans
355000
CY2023Q4 us-gaap Deferred Tax Assets Deferred Gain On Sale Leaseback Transaction
DeferredTaxAssetsDeferredGainOnSaleLeasebackTransaction
780000
CY2022Q4 us-gaap Deferred Tax Assets Deferred Gain On Sale Leaseback Transaction
DeferredTaxAssetsDeferredGainOnSaleLeasebackTransaction
783000
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
1779000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
1485000
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
386000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
283000
CY2023Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
3000
CY2022Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
5000
CY2023Q4 vel Deferredtaxassetsrealestateowned
Deferredtaxassetsrealestateowned
160000
CY2023Q4 us-gaap Deferred Tax Assets State Taxes
DeferredTaxAssetsStateTaxes
374000
CY2022Q4 us-gaap Deferred Tax Assets State Taxes
DeferredTaxAssetsStateTaxes
696000
CY2023Q4 vel Deferred Tax Assets Research And Experimental Expenditures Capitalization
DeferredTaxAssetsResearchAndExperimentalExpendituresCapitalization
1721000
CY2023Q4 vel Deferred Tax Assets Mortgage Servicing Rights
DeferredTaxAssetsMortgageServicingRights
53000
CY2023Q4 us-gaap Deferred Tax Assets Derivative Instruments
DeferredTaxAssetsDerivativeInstruments
427000
CY2023Q4 vel Deferred Tax Assets Employee Retention Credit Refund
DeferredTaxAssetsEmployeeRetentionCreditRefund
1038000
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
154000
CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
6721000
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
12212000
CY2023Q4 vel Deferred Tax Liabilities Hedging Transactions
DeferredTaxLiabilitiesHedgingTransactions
2522000
CY2022Q4 vel Deferred Tax Liabilities Hedging Transactions
DeferredTaxLiabilitiesHedgingTransactions
4941000
CY2023Q4 vel Deferred Tax Liabilities Mark To Market Loans
DeferredTaxLiabilitiesMarkToMarketLoans
36000
CY2023Q4 vel Deferred Tax Liabilities Right Of Use Assets
DeferredTaxLiabilitiesRightOfUseAssets
735000
CY2022Q4 vel Deferred Tax Liabilities Right Of Use Assets
DeferredTaxLiabilitiesRightOfUseAssets
717000
CY2023Q4 us-gaap Deferred Tax Liabilities Deferred Expense Deferred Financing Costs
DeferredTaxLiabilitiesDeferredExpenseDeferredFinancingCosts
63000
CY2022Q4 us-gaap Deferred Tax Liabilities Deferred Expense Deferred Financing Costs
DeferredTaxLiabilitiesDeferredExpenseDeferredFinancingCosts
138000
CY2023Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
332000
CY2022Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
595000
CY2022Q4 vel Deferred Tax Liabilities Real Estate Owned
DeferredTaxLiabilitiesRealEstateOwned
30000
CY2022Q4 us-gaap Deferred Tax Liabilities Mortgage Servicing Rights
DeferredTaxLiabilitiesMortgageServicingRights
758000
CY2023Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
694000
CY2023Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
4382000
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
7179000
CY2023Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
2339000
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
5033000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
400000
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1900000
CY2023Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
300000
CY2023Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
500000
CY2022Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
100000
CY2021Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
100000
CY2023 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
32900
CY2022 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
600000
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1940000
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1911000
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1860000
CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
93000
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
68000
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
49000
CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
25000
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
19000
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
2000
CY2023 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
1668000
CY2022 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
58000
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
390000
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1940000
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1911000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
785000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
12.89
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
5464
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
11.68
CY2023 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
37500
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
13
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
752964
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
12.88
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y1M6D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
3269000
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
747500
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
12.89
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y1M6D
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
3239000
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
5464
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
11.68
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P9Y8M12D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
30000
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
785000
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
12.89
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
785000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
12.89
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y1M6D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
42000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
523333
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
12.89
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y1M6D
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
28000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
261667
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
12.89
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y1M6D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
14000
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Requisite Service Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1
P3Y
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22813000
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.6
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.99
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Method Of Measuring Cost Of Award
ShareBasedCompensationArrangementByShareBasedPaymentAwardMethodOfMeasuringCostOfAward
Compensation expense related to stock options is based on the fair value of the underlying stock on the award date and is recognized over the vesting period using the straight-line method.
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
5464
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
261667
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
11.68
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
12.89
CY2023Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
22400
CY2023 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y8M8D
CY2021Q1 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
480000
CY2022Q1 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
125250
CY2023Q1 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
198137
CY2023Q4 vel Issuance Of Shares Under Espp
IssuanceOfSharesUnderEspp
241132
CY2023 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
167123
CY2022 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
74009
CY2023 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
3900000
CY2022 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
3100000
CY2023 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
87765
CY2022 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
33647
CY2023 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
9.81
CY2022 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
13.61
CY2023 us-gaap Net Income Loss
NetIncomeLoss
52273000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
32211000
CY2021 us-gaap Net Income Loss
NetIncomeLoss
29224000
CY2023 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
753000
CY2022 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
491000
CY2021 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
8589000
CY2023 vel Net Earnings Attributable To Common Stockholders
NetEarningsAttributableToCommonStockholders
51520000
CY2022 vel Net Earnings Attributable To Common Stockholders
NetEarningsAttributableToCommonStockholders
31720000
CY2021 vel Net Earnings Attributable To Common Stockholders
NetEarningsAttributableToCommonStockholders
20635000
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32206000
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31913000
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.9
CY2023 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
52273000
CY2022 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
31720000
CY2021 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
20635000
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32206000
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31913000
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22813000
CY2021 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
8989000
CY2023 vel Dilutive Effect Of Warrants
DilutiveEffectOfWarrants
2020000
CY2022 vel Dilutive Effect Of Warrants
DilutiveEffectOfWarrants
2025000
CY2021 vel Dilutive Effect Of Warrants
DilutiveEffectOfWarrants
1974000
CY2023 vel Diluted Effect Of Stock Option
DilutedEffectOfStockOption
14000
CY2022 vel Diluted Effect Of Stock Option
DilutedEffectOfStockOption
5000
CY2021 vel Diluted Effect Of Stock Option
DilutedEffectOfStockOption
3000
CY2023 vel Diluted Effect Of Unvested Restricted Stock Awards
DilutedEffectOfUnvestedRestrictedStockAwards
173000
CY2022 vel Diluted Effect Of Unvested Restricted Stock Awards
DilutedEffectOfUnvestedRestrictedStockAwards
188000
CY2021 vel Diluted Effect Of Unvested Restricted Stock Awards
DilutedEffectOfUnvestedRestrictedStockAwards
203000
CY2023 vel Diluted Effect Of Unvested Performance Based Stock Units
DilutedEffectOfUnvestedPerformanceBasedStockUnits
71000
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
34484000
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
34131000
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33982000
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.52
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.94
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.86
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
773
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
773
CY2023Q4 vel Percentage Of Common Stock Held By Warrant Holder And Affiliates
PercentageOfCommonStockHeldByWarrantHolderAndAffiliates
0.49
CY2023Q4 vel Repurchase Liability
RepurchaseLiability
66000
CY2022Q4 vel Repurchase Liability
RepurchaseLiability
124000
CY2023 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
1000000
CY2022 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
794000
CY2021 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
579000
CY2023 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
872000
CY2022 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
1421000
CY2021 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
661000
CY2023 vel Data Processing And Telecommunications Expenses
DataProcessingAndTelecommunicationsExpenses
3175000
CY2022 vel Data Processing And Telecommunications Expenses
DataProcessingAndTelecommunicationsExpenses
3022000
CY2021 vel Data Processing And Telecommunications Expenses
DataProcessingAndTelecommunicationsExpenses
2476000
CY2023 vel Office Expenses
OfficeExpenses
1180000
CY2022 vel Office Expenses
OfficeExpenses
1161000
CY2021 vel Office Expenses
OfficeExpenses
1396000
CY2023 us-gaap Taxes And Licenses
TaxesAndLicenses
1851000
CY2022 us-gaap Taxes And Licenses
TaxesAndLicenses
2300000
CY2021 us-gaap Taxes And Licenses
TaxesAndLicenses
2420000
CY2023 vel Other Operating Expense
OtherOperatingExpense
1446000
CY2022 vel Other Operating Expense
OtherOperatingExpense
1262000
CY2021 vel Other Operating Expense
OtherOperatingExpense
971000
CY2023 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
8524000
CY2022 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
9166000
CY2021 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
7924000
CY2023 us-gaap Proceeds From Loans
ProceedsFromLoans
0
CY2023Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
1376508000
CY2023Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
881082000
CY2022Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
310124000
CY2023Q4 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
8500000
CY2022Q4 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
11500000
CY2023Q4 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
1000000
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
1100000
CY2023Q4 us-gaap Interest And Fee Income Loans And Leases Held In Portfolio
InterestAndFeeIncomeLoansAndLeasesHeldInPortfolio
86269000
CY2023Q3 us-gaap Interest And Fee Income Loans And Leases Held In Portfolio
InterestAndFeeIncomeLoansAndLeasesHeldInPortfolio
79088000
CY2023Q2 us-gaap Interest And Fee Income Loans And Leases Held In Portfolio
InterestAndFeeIncomeLoansAndLeasesHeldInPortfolio
74897000
CY2023Q1 us-gaap Interest And Fee Income Loans And Leases Held In Portfolio
InterestAndFeeIncomeLoansAndLeasesHeldInPortfolio
70521000
CY2022Q4 us-gaap Interest And Fee Income Loans And Leases Held In Portfolio
InterestAndFeeIncomeLoansAndLeasesHeldInPortfolio
65632000
CY2022Q3 us-gaap Interest And Fee Income Loans And Leases Held In Portfolio
InterestAndFeeIncomeLoansAndLeasesHeldInPortfolio
63419000
CY2022Q2 us-gaap Interest And Fee Income Loans And Leases Held In Portfolio
InterestAndFeeIncomeLoansAndLeasesHeldInPortfolio
59243000
CY2022Q1 us-gaap Interest And Fee Income Loans And Leases Held In Portfolio
InterestAndFeeIncomeLoansAndLeasesHeldInPortfolio
52049000
CY2023Q4 us-gaap Interest Expense Now Accounts Money Market Accounts And Savings Deposits
InterestExpenseNOWAccountsMoneyMarketAccountsAndSavingsDeposits
51405000
CY2023Q3 us-gaap Interest Expense Now Accounts Money Market Accounts And Savings Deposits
InterestExpenseNOWAccountsMoneyMarketAccountsAndSavingsDeposits
47583000
CY2023Q2 us-gaap Interest Expense Now Accounts Money Market Accounts And Savings Deposits
InterestExpenseNOWAccountsMoneyMarketAccountsAndSavingsDeposits
45451000
CY2023Q1 us-gaap Interest Expense Now Accounts Money Market Accounts And Savings Deposits
InterestExpenseNOWAccountsMoneyMarketAccountsAndSavingsDeposits
42029000
CY2022Q4 us-gaap Interest Expense Now Accounts Money Market Accounts And Savings Deposits
InterestExpenseNOWAccountsMoneyMarketAccountsAndSavingsDeposits
40854000
CY2022Q3 us-gaap Interest Expense Now Accounts Money Market Accounts And Savings Deposits
InterestExpenseNOWAccountsMoneyMarketAccountsAndSavingsDeposits
34561000
CY2022Q2 us-gaap Interest Expense Now Accounts Money Market Accounts And Savings Deposits
InterestExpenseNOWAccountsMoneyMarketAccountsAndSavingsDeposits
28752000
CY2022Q1 us-gaap Interest Expense Now Accounts Money Market Accounts And Savings Deposits
InterestExpenseNOWAccountsMoneyMarketAccountsAndSavingsDeposits
23556000
CY2023Q4 vel Interest Income Now Accounts Money Market Accounts And Savings Deposits Net
InterestIncomeNOWAccountsMoneyMarketAccountsAndSavingsDepositsNet
34864000
CY2023Q3 vel Interest Income Now Accounts Money Market Accounts And Savings Deposits Net
InterestIncomeNOWAccountsMoneyMarketAccountsAndSavingsDepositsNet
31505000
CY2023Q2 vel Interest Income Now Accounts Money Market Accounts And Savings Deposits Net
InterestIncomeNOWAccountsMoneyMarketAccountsAndSavingsDepositsNet
29446000
CY2023Q1 vel Interest Income Now Accounts Money Market Accounts And Savings Deposits Net
InterestIncomeNOWAccountsMoneyMarketAccountsAndSavingsDepositsNet
28492000
CY2022Q4 vel Interest Income Now Accounts Money Market Accounts And Savings Deposits Net
InterestIncomeNOWAccountsMoneyMarketAccountsAndSavingsDepositsNet
24778000
CY2022Q3 vel Interest Income Now Accounts Money Market Accounts And Savings Deposits Net
InterestIncomeNOWAccountsMoneyMarketAccountsAndSavingsDepositsNet
28858000
CY2022Q2 vel Interest Income Now Accounts Money Market Accounts And Savings Deposits Net
InterestIncomeNOWAccountsMoneyMarketAccountsAndSavingsDepositsNet
30491000
CY2022Q1 vel Interest Income Now Accounts Money Market Accounts And Savings Deposits Net
InterestIncomeNOWAccountsMoneyMarketAccountsAndSavingsDepositsNet
28493000
CY2023Q4 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
4140000
CY2023Q3 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
4138000
CY2023Q2 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
4139000
CY2023Q1 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
4139000
CY2022Q4 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
4139000
CY2022Q3 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
4011000
CY2022Q2 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
4182000
CY2022Q1 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
17140000
CY2023Q4 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
30724000
CY2023Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
27367000
CY2023Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
25307000
CY2023Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
24353000
CY2022Q4 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
20639000
CY2022Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
24847000
CY2022Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
26309000
CY2022Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
11353000
CY2023Q4 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
827000
CY2023Q3 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
154000
CY2023Q2 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
298000
CY2023Q1 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
636000
CY2022Q4 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
-437000
CY2022Q3 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
580000
CY2022Q2 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
279000
CY2022Q1 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
730000
CY2023Q4 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
29897000
CY2023Q3 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
27213000
CY2023Q2 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
25009000
CY2023Q1 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
23717000
CY2022Q4 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
21076000
CY2022Q3 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
24267000
CY2022Q2 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
26030000
CY2022Q1 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
10623000
CY2023Q4 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
21670000
CY2023Q3 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
17360000
CY2023Q2 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
14037000
CY2023Q1 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
12843000
CY2022Q4 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
11420000
CY2022Q3 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
3027000
CY2022Q2 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
3592000
CY2022Q1 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
6281000
CY2023Q4 us-gaap Noninterest Expense
NoninterestExpense
29260000
CY2023Q3 us-gaap Noninterest Expense
NoninterestExpense
27334000
CY2023Q2 us-gaap Noninterest Expense
NoninterestExpense
22222000
CY2023Q1 us-gaap Noninterest Expense
NoninterestExpense
21803000
CY2022Q4 us-gaap Noninterest Expense
NoninterestExpense
20804000
CY2022Q3 us-gaap Noninterest Expense
NoninterestExpense
13245000
CY2022Q2 us-gaap Noninterest Expense
NoninterestExpense
14832000
CY2022Q1 us-gaap Noninterest Expense
NoninterestExpense
12883000
CY2023Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
22307000
CY2023Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
17239000
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
16824000
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
14757000
CY2022Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
11692000
CY2022Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
14049000
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
14790000
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
4021000
CY2023Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5141000
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5070000
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4602000
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4021000
CY2022Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3465000
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3759000
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4019000
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
790000
CY2023Q4 us-gaap Profit Loss
ProfitLoss
17166000
CY2023Q3 us-gaap Profit Loss
ProfitLoss
12169000
CY2023Q2 us-gaap Profit Loss
ProfitLoss
12222000
CY2023Q1 us-gaap Profit Loss
ProfitLoss
10736000
CY2022Q4 us-gaap Profit Loss
ProfitLoss
8227000
CY2022Q3 us-gaap Profit Loss
ProfitLoss
10290000
CY2022Q2 us-gaap Profit Loss
ProfitLoss
10771000
CY2022Q1 us-gaap Profit Loss
ProfitLoss
3231000
CY2023Q4 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
-189000
CY2023Q3 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
83000
CY2023Q2 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
39000
CY2023Q1 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
87000
CY2022Q4 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
-235000
CY2022Q3 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
307000
CY2022Q2 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
126000
CY2022Q1 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
110000
CY2023Q4 us-gaap Net Income Loss
NetIncomeLoss
17355000
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
12086000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
12183000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
10649000
CY2022Q4 us-gaap Net Income Loss
NetIncomeLoss
8462000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
9983000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
10645000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
3121000

Files In Submission

Name View Source Status
0000950170-24-032142-index-headers.html Edgar Link pending
0000950170-24-032142-index.html Edgar Link pending
0000950170-24-032142.txt Edgar Link pending
0000950170-24-032142-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
img108913134_0.jpg Edgar Link pending
img108913134_1.jpg Edgar Link pending
img108913134_2.jpg Edgar Link pending
img108913134_3.jpg Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R100.htm Edgar Link pending
R101.htm Edgar Link pending
R102.htm Edgar Link pending
R103.htm Edgar Link pending
R104.htm Edgar Link pending
R105.htm Edgar Link pending
R106.htm Edgar Link pending
R107.htm Edgar Link pending
R108.htm Edgar Link pending
R109.htm Edgar Link pending
R11.htm Edgar Link pending
R110.htm Edgar Link pending
R111.htm Edgar Link pending
R112.htm Edgar Link pending
R113.htm Edgar Link pending
R114.htm Edgar Link pending
R115.htm Edgar Link pending
R116.htm Edgar Link pending
R117.htm Edgar Link pending
R118.htm Edgar Link pending
R119.htm Edgar Link pending
R12.htm Edgar Link pending
R120.htm Edgar Link pending
R121.htm Edgar Link pending
R122.htm Edgar Link pending
R123.htm Edgar Link pending
R124.htm Edgar Link pending
R125.htm Edgar Link pending
R126.htm Edgar Link pending
R127.htm Edgar Link pending
R128.htm Edgar Link pending
R129.htm Edgar Link pending
R13.htm Edgar Link pending
R130.htm Edgar Link pending
R131.htm Edgar Link pending
R132.htm Edgar Link pending
R133.htm Edgar Link pending
R134.htm Edgar Link pending
R135.htm Edgar Link pending
R136.htm Edgar Link pending
R137.htm Edgar Link pending
R138.htm Edgar Link pending
R139.htm Edgar Link pending
R14.htm Edgar Link pending
R140.htm Edgar Link pending
R141.htm Edgar Link pending
R142.htm Edgar Link pending
R143.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R58.htm Edgar Link pending
R59.htm Edgar Link pending
R6.htm Edgar Link pending
R60.htm Edgar Link pending
R61.htm Edgar Link pending
R62.htm Edgar Link pending
R63.htm Edgar Link pending
R64.htm Edgar Link pending
R65.htm Edgar Link pending
R66.htm Edgar Link pending
R67.htm Edgar Link pending
R68.htm Edgar Link pending
R69.htm Edgar Link pending
R7.htm Edgar Link pending
R70.htm Edgar Link pending
R71.htm Edgar Link pending
R72.htm Edgar Link pending
R73.htm Edgar Link pending
R74.htm Edgar Link pending
R75.htm Edgar Link pending
R76.htm Edgar Link pending
R77.htm Edgar Link pending
R78.htm Edgar Link pending
R79.htm Edgar Link pending
R8.htm Edgar Link pending
R80.htm Edgar Link pending
R81.htm Edgar Link pending
R82.htm Edgar Link pending
R83.htm Edgar Link pending
R84.htm Edgar Link pending
R85.htm Edgar Link pending
R86.htm Edgar Link pending
R87.htm Edgar Link pending
R88.htm Edgar Link pending
R89.htm Edgar Link pending
R9.htm Edgar Link pending
R90.htm Edgar Link pending
R91.htm Edgar Link pending
R92.htm Edgar Link pending
R93.htm Edgar Link pending
R94.htm Edgar Link pending
R95.htm Edgar Link pending
R96.htm Edgar Link pending
R97.htm Edgar Link pending
R98.htm Edgar Link pending
R99.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
vel-20231231.htm Edgar Link pending
vel-20231231.xsd Edgar Link pending
vel-ex10_16.htm Edgar Link pending
vel-ex21_1.htm Edgar Link pending
vel-ex23_1.htm Edgar Link pending
vel-ex31_1.htm Edgar Link pending
vel-ex31_2.htm Edgar Link pending
vel-ex32_1.htm Edgar Link pending
vel-ex32_2.htm Edgar Link pending
vel-20231231_htm.xml Edgar Link completed