INTEREST INCOME AND INTEREST EXPENSE (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Interest income
Agency securities	$ 790,779	$ 686,912	$ 1,542,295	$ 1,290,014
Residential credit securities	50,895	56,477	106,891	110,222
Residential mortgage loans	301,820	162,202	553,836	309,433
Commercial investment portfolio	2,441	8,310	5,995	18,197
Reverse repurchase agreements	31,390	7,593	62,796	11,878
Total interest income	1,177,325	921,494	2,271,813	1,739,744
Interest expense
Repurchase agreements	881,926	841,257	1,779,524	1,539,999
Debt issued by securitization vehicles	200,812	101,819	361,829	190,753
Participations issued	19,756	10,381	40,007	21,492
U.S. Treasury securities sold, not yet purchased	21,273	0	43,346	0
Total interest expense	1,123,767	953,457	2,224,706	1,752,244
Interest income	$ 53,558	$ (31,963)	$ 47,107	$ (12,500)