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REAL ESTATE AND OTHER SECURITIES - Summary of Real Estate Securities (Details)
$ in Thousands
3 Months Ended
Mar. 31, 2023
USD ($)
security
Dec. 31, 2022
USD ($)
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount $ 25,589,381  
Carrying Value $ 8,987,572 $ 8,289,277
Weighted Average Life (Years) 1 year 1 month 6 days  
Investments $ 24,397,294  
Residual Bonds    
Debt Securities, Available-for-sale [Line Items]    
Investments 18,600  
Non-Agency Bonds    
Debt Securities, Available-for-sale [Line Items]    
Investments 1,200  
AFS Agency    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount 78,918  
Gross Unrealized Gains 0  
Gross Unrealized Losses 0  
Carrying Value $ 73,181 73,439
Number of Securities | security 1  
Weighted Average Coupon 3.50%  
Weighted Average Yield 3.50%  
Weighted Average Life (Years) 11 years  
AFS Non-Agency    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount $ 2,598,801  
Gross Unrealized Gains 71,727  
Gross Unrealized Losses (30,071)  
Carrying Value $ 390,848 397,076
Number of Securities | security 334  
Weighted Average Coupon 3.50%  
Weighted Average Yield 3.70%  
Weighted Average Life (Years) 4 years 9 months 18 days  
Weighted Average Principal Subordination 29.40%  
FVO Agency    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount $ 7,962,225  
Gross Unrealized Gains 165,874  
Gross Unrealized Losses (2,709)  
Carrying Value $ 7,968,337 7,264,978
Number of Securities | security 38  
Weighted Average Coupon 5.10%  
Weighted Average Yield 5.10%  
Weighted Average Life (Years) 8 years  
FVO Non-Agency    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount $ 14,949,437  
Gross Unrealized Gains 65,182  
Gross Unrealized Losses (87,119)  
Carrying Value $ 555,206 553,784
Number of Securities | security 344  
Weighted Average Coupon 2.70%  
Weighted Average Yield 8.70%  
Weighted Average Life (Years) 6 years 1 month 6 days  
Weighted Average Principal Subordination 16.60%  
Agency And Non-Agency Residential Mortgage Backed Securities    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount $ 25,589,381  
Gross Unrealized Gains 302,783  
Gross Unrealized Losses (119,899)  
Carrying Value $ 8,987,572 $ 8,289,277
Number of Securities | security 717  
Weighted Average Coupon 4.90%  
Weighted Average Yield 5.30%  
Weighted Average Life (Years) 7 years 9 months 18 days  
Agency    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount $ 8,041,143  
Agency | Fixed Rate Securities    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount 8,000,000  
Non-Agency    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount 17,548,238  
Non-Agency | Fixed Rate Securities    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount 8,200,000  
Residual and interest - only notional amount 7,300,000  
Non-Agency | Floating Rate Securities    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount 9,300,000  
Residual and interest - only notional amount 9,100,000  
Corporate debt    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount 514  
Gross Unrealized Gains 2  
Gross Unrealized Losses 0  
Carrying Value $ 479  
Number of Securities | security 2  
Weighted Average Coupon 8.20%  
Weighted Average Yield 9.50%  
Weighted Average Life (Years) 2 years 2 months 12 days  
Consumer loans    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount $ 400  
Gross Unrealized Gains 553  
Gross Unrealized Losses 0  
Carrying Value $ 577  
Number of Securities | security 3  
Weighted Average Life (Years) 8 months 12 days  
Interest-only securities    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount $ 9,417,388  
Gross Unrealized Gains 33,121  
Gross Unrealized Losses (30,151)  
Carrying Value $ 157,605  
Number of Securities | security 143  
Weighted Average Coupon 0.90%  
Weighted Average Yield 14.20%  
Weighted Average Life (Years) 2 years 8 months 12 days  
Servicing strips    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount $ 4,264,723  
Gross Unrealized Gains 22,010  
Gross Unrealized Losses (4,262)  
Carrying Value $ 61,056  
Number of Securities | security 61  
Weighted Average Coupon 0.60%  
Weighted Average Yield 27.10%  
Weighted Average Life (Years) 3 years 4 months 24 days