INTEREST INCOME AND INTEREST EXPENSE (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Interest income
Agency securities	$ 789,403	$ 753,007	$ 2,331,698	$ 2,043,021
Residential credit securities	49,863	57,229	156,754	167,451
Residential mortgage loans	346,031	181,965	899,867	491,398
Commercial investment portfolio	2,240	5,812	8,235	24,009
Reverse repurchase agreements	41,804	3,472	104,600	15,350
Total interest income	1,229,341	1,001,485	3,501,154	2,741,229
Interest expense
Repurchase agreements	942,780	917,997	2,722,304	2,457,996
Debt issued by securitization vehicles	234,299	116,962	596,128	307,715
Participations issued	17,834	11,860	57,841	33,352
U.S. Treasury securities sold, not yet purchased	21,027	0	64,373	0
Total interest expense	1,215,940	1,046,819	3,440,646	2,799,063
Interest income	$ 13,401	$ (45,334)	$ 60,508	$ (57,834)