REAL ESTATE AND OTHER SECURITIES (AS RESTATED) - Schedule of Real Estate and Other Securities by Designation (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) security	Dec. 31, 2023 USD ($)
Debt Securities, Available-for-sale [Line Items]
Carrying Value	$ 14,832,401	$ 9,337,159
Weighted Average Life (Years)	3 years 7 months 6 days
Investments	$ 31,849,406
Residual Bonds
Debt Securities, Available-for-sale [Line Items]
Investments	30,100
AFS Agency
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	73,387
Gross Unrealized Gains	0
Gross Unrealized Losses	0
Carrying Value	$ 64,331	65,496
Number of Securities | security	1
Weighted Average Coupon	3.50%
Weighted Average Yield	3.50%
Weighted Average Life (Years)	10 years 9 months 18 days
AFS Non-Agency
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	$ 2,409,685
Gross Unrealized Gains	70,861
Gross Unrealized Losses	(25,123)
Carrying Value	$ 332,146	337,427
Number of Securities | security	308
Weighted Average Coupon	3.50%
Weighted Average Yield	3.90%
Weighted Average Life (Years)	5 years 2 months 12 days
FVO Agency
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	$ 9,678,119
Gross Unrealized Gains	41,444
Gross Unrealized Losses	(24,684)
Carrying Value	$ 9,501,879	8,467,634
Number of Securities | security	46
Weighted Average Coupon	5.10%
Weighted Average Yield	5.10%
Weighted Average Life (Years)	11 years
Treasury
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	$ 4,500,000
Gross Unrealized Gains	0
Gross Unrealized Losses	(8,759)
Carrying Value	$ 4,472,656	0
Number of Securities | security	7
Weighted Average Coupon	4.30%
Weighted Average Yield	4.30%
Weighted Average Life (Years)	4 years 1 month 6 days
FVO Non-Agency
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	$ 7,331,641
Gross Unrealized Gains	23,312
Gross Unrealized Losses	(41,342)
Carrying Value	$ 461,389	466,602
Number of Securities | security	421
Weighted Average Coupon	2.30%
Weighted Average Yield	7.20%
Weighted Average Life (Years)	4 years 3 months 18 days
Agency and Non-Agency Residential Mortgage Backed Securities
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	$ 23,992,832
Gross Unrealized Gains	135,617
Gross Unrealized Losses	(99,908)
Carrying Value	$ 14,832,401	$ 9,337,159
Number of Securities | security	783
Weighted Average Coupon	4.80%
Weighted Average Yield	4.90%
Weighted Average Life (Years)	7 years 1 month 6 days
Agency
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	$ 9,751,506
Agency | Fixed Rate Securities
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	14,300,000
Non-Agency
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	9,741,326
Non-Agency | Fixed Rate Securities
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	7,400,000
Residual and interest - only notional amount	6,700,000
Non-Agency | Floating Rate Securities
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	2,300,000
Residual and interest - only notional amount	2,000,000
Consumer loan bonds
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	280
Gross Unrealized Gains	259
Gross Unrealized Losses	0
Carrying Value	$ 259
Number of Securities | security	1
Weighted Average Life (Years)	1 year 6 months
Interest-only securities
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	$ 3,706,086
Gross Unrealized Gains	7,598
Gross Unrealized Losses	(23,232)
Carrying Value	$ 70,026
Number of Securities | security	113
Weighted Average Coupon	1.00%
Weighted Average Yield	10.90%
Weighted Average Life (Years)	2 years 3 months 18 days
Servicing strips
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	$ 2,431,838
Gross Unrealized Gains	3,351
Gross Unrealized Losses	(466)
Carrying Value	$ 20,078
Number of Securities | security	50
Weighted Average Coupon	0.00%
Weighted Average Yield	14.90%
Weighted Average Life (Years)	6 years 2 months 12 days
Commercial MBSs
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	$ 3,845
Gross Unrealized Gains	194
Gross Unrealized Losses	0
Carrying Value	$ 3,901
Number of Securities | security	2
Weighted Average Coupon	7.90%
Weighted Average Yield	7.90%
Weighted Average Life (Years)	1 year 2 months 12 days
CLOs
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	$ 215,412
Gross Unrealized Gains	4,425
Gross Unrealized Losses	(2,403)
Carrying Value	$ 211,996
Number of Securities | security	194
Weighted Average Coupon	5.50%
Weighted Average Yield	8.70%
Weighted Average Life (Years)	8 years 7 months 6 days