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FINANCIAL INSTRUMENTS - Summary of Characteristics of Financial Instruments (Details) - USD ($)
$ in Thousands
Jun. 30, 2021
Dec. 31, 2020
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Assets $ 82,376,305 $ 88,455,103 [1]
Liabilities 68,737,129 74,433,307 [1]
Total securities    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Assets 69,032,335 75,652,396
Agency mortgage-backed securities, recognized through comprehensive income    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Assets 65,898,975 73,562,972
Agency mortgage-backed securities, recognized through earnings    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Assets 569,544 504,087
Residential credit risk transfer securities    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Assets 827,328 532,403
Non-agency mortgage-backed securities    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Assets 1,582,323 972,192
Commercial real estate debt investment, securities, recognized through other comprehensive income    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Assets 0 31,603
Commercial real estate debt investment, securities, recognized through earnings    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Assets 150,005 45,254
Commercial real estate debt investment, credit risk transfer securities    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Assets 4,160 3,885
Total loans, net    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Assets 3,563,008 3,083,821
Residential mortgage loans    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Assets 1,029,929 345,810
Commercial real estate debt and preferred equity, held for investment    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Assets 0 498,081
Corporate debt, held for investment    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Assets 2,066,709 2,239,930
Corporate debt, held for sale    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Assets 466,370 0
Total assets transferred or pledged to securitization vehicles    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Assets 4,073,156 6,910,020
Excess spread agreements, recognized through earnings    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Assets 49,035 0
Mortgage-backed securities, recognized through other comprehensive income    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Assets 605,163 620,347
Residential mortgage loans, recognized through earnings    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Assets 3,467,993 3,249,251
Commercial mortgage loans, recognized through earnings    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Assets 0 2,166,073
Commercial mortgage loans, amortized cost    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Assets 0 874,349
Repurchase agreements    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Liabilities 60,221,067 64,825,239
Other secured financing    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Liabilities 909,655 917,876
Debt issued by securitization vehicles    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Liabilities 3,315,087 5,652,982
Participations issued    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Liabilities 315,810 39,198
Mortgages payable    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Liabilities $ 0 $ 426,256
[1] Derived from the audited consolidated financial statements at December 31, 2020.