INTEREST INCOME AND INTEREST EXPENSE - Components of Company's Interest Income and Interest Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Interest income
Agency Securities	$ 2,144,696	$ 1,484,354	$ 1,661,566
Residential credit securities	140,220	78,681	57,394
Residential mortgage loans	410,229	182,359	170,259
Commercial investment portfolio	81,855	237,597	338,763
Reverse repurchase agreements	1,887	45	1,643
Total interest income	2,778,887	1,983,036	2,229,625
Interest expense
Repurchase agreements	1,026,201	116,974	705,218
Debt issued by securitization vehicles	225,216	93,006	142,602
Participations issued	39,366	12,071	78
Other	18,952	27,192	51,214
Total interest expense	1,309,735	249,243	899,112
Net interest income	$ 1,469,152	$ 1,733,793	$ 1,330,513