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FINANCIAL INSTRUMENTS - Summary of Characteristics of Financial Instruments (Details) - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Assets $ 76,764,064 $ 88,455,103
Liabilities 63,568,739 74,433,307
Total securities    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Assets 63,655,674 75,652,396
Agency 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 59,939,383 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 586,222 504,087
Residential credit risk transfer securities    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Assets 936,228 532,403
Non-agency mortgage-backed securities    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Assets 1,663,336 972,192
Commercial real estate debt investments, CMBS, 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 investments, CMBS, recognized through earnings    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Assets 521,440 45,254
Commercial real estate debt investments, credit risk transfer securities    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Assets 9,065 3,885
Total loans, net    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Assets 4,242,043 3,083,821
Residential mortgage loans    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Assets 2,272,072 345,810
Residential mortgage loan warehouse facility    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Assets 980 0
Commercial real estate debt and preferred equity, held for investment (4)    
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 1,968,991 2,239,930
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 6,086,308 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 69,316 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 589,873 620,347
Residential mortgage loans, recognized through earnings    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Assets 5,496,435 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    
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 54,769,643 64,825,239
Other secured financing    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Liabilities 903,255 917,876
Debt issued by securitization vehicles    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Liabilities 5,155,633 5,652,982
Participations issued    
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]    
Liabilities 1,049,066 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