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FINANCIAL INSTRUMENTS (Tables) | 3 Months Ended
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Mar. 31, 2021
Investments, All Other Investments [Abstract] |
Schedule of Characteristics of Financial Instruments | The following table presents characteristics for certain of the Company’s financial instruments at March 31, 2021 and December 31, 2020.
Financial Instruments (1)
Balance Sheet Line Item | Type / Form | Measurement Basis | March 31, 2021 |  | December 31, 2020
| Assets | (dollars in thousands) |  |  |
Securities | Agency mortgage-backed securities (2) | Fair value, with unrealized gains (losses) through other comprehensive income | $ | 69,148,257 |  |  | $ | 73,562,972 |
Securities | Agency mortgage-backed securities (3) | Fair value, with unrealized gains (losses) through earnings | 488,972 |  |  | 504,087 |
Securities | Residential credit risk transfer securities | Fair value, with unrealized gains (losses) through earnings | 930,983 |  |  | 532,403 |
Securities | Non-agency mortgage-backed securities | Fair value, with unrealized gains (losses) through earnings | 1,277,104 |  |  | 972,192 |
Securities | Commercial real estate debt investments - CMBS(4) | Fair value, with unrealized gains (losses) through other comprehensive income | — |  |  | 31,603 |
Securities | Commercial real estate debt investments - CMBS (4)(5) | Fair value, with unrealized gains (losses) through earnings | — |  |  | 45,254 |
Securities | Commercial real estate debt investments - credit risk transfer securities | Fair value, with unrealized gains (losses) through earnings | 4,121 |  |  | 3,885 |
Total securities |  |  | 71,849,437 |  |  | 75,652,396 |
Loans, net | Residential mortgage loans | Fair value, with unrealized gains (losses) through earnings | 528,868 |  |  | 345,810 |
Loans, net | Commercial real estate debt and preferred equity, held for investment (4) | Amortized cost | — |  |  | 498,081 |
Loans, net | Corporate debt held for investment, net | Amortized cost | 2,074,475 |  |  | 2,239,930 |
Total loans, net |  |  | 2,603,343 |  |  | 3,083,821 |
Assets transferred or pledged to securitization vehicles | Agency mortgage-backed securities | Fair value, with unrealized gains (losses) through other comprehensive income | 598,118 |  |  | 620,347 |
Assets transferred or pledged to securitization vehicles | Residential mortgage loans | Fair value, with unrealized gains (losses) through earnings | 3,170,804 |  |  | 3,249,251 |
Assets transferred or pledged to securitization vehicles | Commercial mortgage loans (4) | Fair value, with unrealized gains (losses) through earnings | — |  |  | 2,166,073 |
Assets transferred or pledged to securitization vehicles | Commercial mortgage loans (4) | Amortized cost | — |  |  | 874,349 |
Total assets transferred or pledged to securitization vehicles |  | 3,768,922 |  |  | 6,910,020 |
| Liabilities |  |  |  |
Repurchase agreements | Repurchase agreements | Amortized cost | 61,202,477 |  |  | 64,825,239 |
Other secured financing | Loans | Amortized cost | 922,605 |  |  | 917,876 |
Debt issued by securitization vehicles | Securities | Fair value, with unrealized gains (losses) through earnings | 3,044,725 |  |  | 5,652,982 |
Participations issued | Participations issued | Fair value, with unrealized gains (losses) through earnings | 180,527 |  |  | 39,198 |
Mortgages payable | Loans (6) | Amortized cost | — |  |  | 426,256 |
(1) Receivable for unsettled trades, Principal and interest receivable, Payable for unsettled trades, Interest payable and Dividends payable are accounted for at cost. (2) Includes Agency pass-through, collateralized mortgage obligation (“CMO”) and multifamily securities. (3) Includes interest-only securities and reverse mortgages. (4) Included in Assets of disposal group held for sale at March 31, 2021. (5) Includes single-asset / single-borrower CMBS. (6) Included in Liabilities of disposal group held for sale at March 31, 2021.

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- Definition Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in net income (trading) and investment in equity security measured at fair value with change in fair value recognized in net income (FV-NI). + References No definition available. + Details
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