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FAIR VALUE MEASUREMENTS - Estimated Fair Values of Financial Instruments (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Loans      
Mortgage servicing rights $ 2,909,134 $ 2,122,196 $ 1,748,209
Liabilities      
Participations issued 1,154,816 1,103,835  
U.S. Treasury securities sold, not yet purchased 2,470,629 2,132,751  
Residential mortgage loans      
Loans      
Residential mortgage loans 25,520,090 15,660,706  
Fair Value, Measurements, Recurring      
Assets      
Agency mortgage-backed securities 67,434,068 66,308,788  
Credit risk transfer securities 754,915 974,059  
Loans      
Mortgage servicing rights 2,909,134 2,122,196  
Derivative assets      
Interest rate swaps 21,226 26,344  
Other derivatives 204,125 136,213  
Total assets 98,411,022 87,559,024  
Liabilities      
Debt issued by securitization vehicles 19,540,678 11,600,338  
Participations issued 1,154,816 1,103,835  
U.S. Treasury securities sold, not yet purchased 2,470,629 2,132,751  
Derivative liabilities      
Interest rate swaps 7,212 83,051  
Other derivatives 52,374 219,244  
Total liabilities 23,225,709 15,139,219  
Fair Value, Measurements, Recurring | Asset Transferred or Pledged      
Loans      
Assets transferred or pledged to securitization vehicles 21,973,188 13,307,622  
Fair Value, Measurements, Recurring | Non-Agency mortgage-backed securities      
Assets      
Mortgage-backed securities 1,493,186 2,108,274  
Fair Value, Measurements, Recurring | Commercial mortgage-backed securities      
Assets      
Mortgage-backed securities 74,278 222,444  
Fair Value, Measurements, Recurring | Residential mortgage loans      
Loans      
Residential mortgage loans 3,546,902 2,353,084  
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  
Derivative assets      
Interest rate swaps 0 0  
Other derivatives 190,980 0  
Total assets 190,980 0  
Liabilities      
Debt issued by securitization vehicles 0 0  
Participations issued 0 0  
U.S. Treasury securities sold, not yet purchased 2,470,629 2,132,751  
Derivative liabilities      
Interest rate swaps 0 0  
Other derivatives 16,650 179,835  
Total liabilities 2,487,279 2,312,586  
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  
Fair Value, Measurements, Recurring | Level 2      
Assets      
Agency mortgage-backed securities 67,434,068 66,308,788  
Credit risk transfer securities 754,915 974,059  
Loans      
Mortgage servicing rights 0 0  
Derivative assets      
Interest rate swaps 21,226 26,344  
Other derivatives 13,145 136,213  
Total assets 95,310,908 85,436,828  
Liabilities      
Debt issued by securitization vehicles 19,540,678 11,600,338  
Participations issued 1,154,816 1,103,835  
U.S. Treasury securities sold, not yet purchased 0 0  
Derivative liabilities      
Interest rate swaps 7,212 83,051  
Other derivatives 35,724 39,409  
Total liabilities 20,738,430 12,826,633  
Fair Value, Measurements, Recurring | Level 2 | Asset Transferred or Pledged      
Loans      
Assets transferred or pledged to securitization vehicles 21,973,188 13,307,622  
Fair Value, Measurements, Recurring | Level 2 | Non-Agency mortgage-backed securities      
Assets      
Mortgage-backed securities 1,493,186 2,108,274  
Fair Value, Measurements, Recurring | Level 2 | Commercial mortgage-backed securities      
Assets      
Mortgage-backed securities 74,278 222,444  
Fair Value, Measurements, Recurring | Level 2 | Residential mortgage loans      
Loans      
Residential mortgage loans 3,546,902 2,353,084  
Fair Value, Measurements, Recurring | Level 3      
Assets      
Agency mortgage-backed securities 0 0  
Credit risk transfer securities 0 0  
Loans      
Mortgage servicing rights 2,909,134 2,122,196  
Derivative assets      
Interest rate swaps 0 0  
Other derivatives 0 0  
Total assets 2,909,134 2,122,196  
Liabilities      
Debt issued by securitization vehicles 0 0  
Participations issued 0 0  
U.S. Treasury securities sold, not yet purchased 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