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FAIR VALUE MEASUREMENTS - Estimated Fair Values of Financial Instruments (Details) - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Assets      
Mortgage-backed securities [1] $ 65,789,907 $ 63,655,674  
Loans      
Mortgage servicing rights 1,748,209 544,562 $ 100,895
Derivative assets      
Interest rate swaps 33,006 0  
Liabilities      
Participations issued 800,849 1,049,066  
Derivative liabilities      
Interest rate swaps 108,724 747,036  
Residential mortgage loans      
Loans      
Residential mortgage loans 10,931,744 7,768,507  
Fair Value, Measurements, Recurring      
Assets      
Agency mortgage-backed securities 62,274,895 60,525,605  
Credit risk transfer securities 997,557 936,228  
Loans      
Mortgage servicing rights 1,748,209 544,562  
Interests in MSR   69,316  
Derivative assets      
Interest rate swaps 33,006    
Other derivatives 309,058 170,370  
Total assets 78,811,924 72,799,282  
Liabilities      
Debt issued by securitization vehicles 7,744,160 5,155,633  
Participations issued 800,849 1,049,066  
Derivative liabilities      
Interest rate swaps 108,724 747,036  
Other derivatives 95,448 134,501  
Total liabilities 8,749,181 7,086,236  
Fair Value, Measurements, Recurring | Asset Transferred or Pledged      
Loans      
Assets transferred or pledged to securitization vehicles 9,121,912 6,086,308  
Fair Value, Measurements, Recurring | Non-Agency mortgage-backed securities      
Assets      
Mortgage-backed securities 1,991,146 1,663,336  
Fair Value, Measurements, Recurring | Commercial mortgage-backed securities      
Assets      
Mortgage-backed securities 526,309 530,505  
Fair Value, Measurements, Recurring | Residential mortgage loans      
Loans      
Residential mortgage loans 1,809,832 2,272,072  
Residential mortgage loan warehouse facility   980  
Fair Value, Measurements, Recurring | Level 1      
Assets      
Agency mortgage-backed securities 0 0  
Credit risk transfer securities 0 0  
Loans      
Mortgage servicing rights 0 0  
Interests in MSR   0  
Derivative assets      
Interest rate swaps 0    
Other derivatives 33,179 9,028  
Total assets 33,179 9,028  
Liabilities      
Debt issued by securitization vehicles 0 0  
Participations issued 0 0  
Derivative liabilities      
Interest rate swaps 0 0  
Other derivatives 11,919 129,134  
Total liabilities 11,919 129,134  
Fair Value, Measurements, Recurring | Level 1 | Asset Transferred or Pledged      
Loans      
Assets transferred or pledged to securitization vehicles 0 0  
Fair Value, Measurements, Recurring | Level 1 | Non-Agency mortgage-backed securities      
Assets      
Mortgage-backed securities 0 0  
Fair Value, Measurements, Recurring | Level 1 | Commercial mortgage-backed securities      
Assets      
Mortgage-backed securities 0 0  
Fair Value, Measurements, Recurring | Level 1 | Residential mortgage loans      
Loans      
Residential mortgage loans 0 0  
Residential mortgage loan warehouse facility   0  
Fair Value, Measurements, Recurring | Level 2      
Assets      
Agency mortgage-backed securities 62,274,895 60,525,605  
Credit risk transfer securities 997,557 936,228  
Loans      
Mortgage servicing rights 0 0  
Interests in MSR   0  
Derivative assets      
Interest rate swaps 33,006    
Other derivatives 275,879 161,342  
Total assets 77,030,536 72,176,376  
Liabilities      
Debt issued by securitization vehicles 7,744,160 5,155,633  
Participations issued 800,849 1,049,066  
Derivative liabilities      
Interest rate swaps 108,724 747,036  
Other derivatives 83,529 5,367  
Total liabilities 8,737,262 6,957,102  
Fair Value, Measurements, Recurring | Level 2 | Asset Transferred or Pledged      
Loans      
Assets transferred or pledged to securitization vehicles 9,121,912 6,086,308  
Fair Value, Measurements, Recurring | Level 2 | Non-Agency mortgage-backed securities      
Assets      
Mortgage-backed securities 1,991,146 1,663,336  
Fair Value, Measurements, Recurring | Level 2 | Commercial mortgage-backed securities      
Assets      
Mortgage-backed securities 526,309 530,505  
Fair Value, Measurements, Recurring | Level 2 | Residential mortgage loans      
Loans      
Residential mortgage loans 1,809,832 2,272,072  
Residential mortgage loan warehouse facility   980  
Fair Value, Measurements, Recurring | Level 3      
Assets      
Agency mortgage-backed securities 0 0  
Credit risk transfer securities 0 0  
Loans      
Mortgage servicing rights 1,748,209 544,562  
Interests in MSR   69,316  
Derivative assets      
Interest rate swaps 0    
Other derivatives 0 0  
Total assets 1,748,209 613,878  
Liabilities      
Debt issued by securitization vehicles 0 0  
Participations issued 0 0  
Derivative liabilities      
Interest rate swaps 0 0  
Other derivatives 0 0  
Total liabilities 0 0  
Fair Value, Measurements, Recurring | Level 3 | Asset Transferred or Pledged      
Loans      
Assets transferred or pledged to securitization vehicles 0 0  
Fair Value, Measurements, Recurring | Level 3 | Non-Agency mortgage-backed securities      
Assets      
Mortgage-backed securities 0 0  
Fair Value, Measurements, Recurring | Level 3 | Commercial mortgage-backed securities      
Assets      
Mortgage-backed securities 0 0  
Fair Value, Measurements, Recurring | Level 3 | Residential mortgage loans      
Loans      
Residential mortgage loans $ 0 0  
Residential mortgage loan warehouse facility   $ 0  
[1] (2) Excludes $0.0 million and $44.2 million at December 31, 2022 and 2021, respectively, of agency mortgage-backed securities, $1.0 billion and $350.4 million at December 31, 2022 and 2021, respectively, of non-Agency mortgage-backed securities in consolidated VIEs pledged as collateral and eliminated from the Company’s Consolidated Statements of Financial Condition.