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FAIR VALUE MEASUREMENTS - Estimated Fair Values of Financial Instruments (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Mar. 31, 2023
Dec. 31, 2022
Loans        
Mortgage servicing rights $ 2,651,279 $ 2,122,196 $ 1,790,980 $ 1,748,209
Derivative assets        
Interest rate swaps 203,799 162,557 [1]    
Liabilities        
Participations issued 1,161,323 1,103,835 [1]    
U.S. Treasury securities sold, not yet purchased 2,077,404 2,132,751    
Derivative liabilities        
Interest rate swaps 20,931 83,051    
Residential mortgage loans        
Loans        
Residential mortgage loans 18,332,573 15,660,706    
Fair Value, Measurements, Recurring        
Assets        
Agency mortgage-backed securities 63,542,230 66,308,788    
Credit risk transfer securities 871,421 974,059    
Loans        
Mortgage servicing rights 2,651,279 2,122,196    
Derivative assets        
Other derivatives 157,003 136,213    
Total assets 87,688,340 87,559,024    
Liabilities        
Debt issued by securitization vehicles 13,690,967 11,600,338    
Participations issued 1,161,323 1,103,835    
U.S. Treasury securities sold, not yet purchased 2,077,404 2,132,751    
Derivative liabilities        
Interest rate swaps 20,931 83,051    
Other derivatives 82,211 219,244    
Total liabilities 17,032,836 15,139,219    
Fair Value, Measurements, Recurring | Assets transferred or pledged to securitization vehicles        
Loans        
Assets transferred or pledged to securitization vehicles 15,614,750 13,307,622    
Fair Value, Measurements, Recurring | Non-Agency mortgage-backed securities        
Assets        
Mortgage-backed securities 1,933,910 2,108,274    
Fair Value, Measurements, Recurring | Commercial mortgage-backed securities        
Assets        
Mortgage-backed securities 153,128 222,444    
Fair Value, Measurements, Recurring | Residential mortgage loans        
Loans        
Residential mortgage loans 2,717,823 2,353,084    
Fair Value, Measurements, Recurring | Interest rate swaps        
Derivative assets        
Interest rate swaps 46,796 26,344    
Fair Value, Measurements, Recurring | Level 1        
Assets        
Agency mortgage-backed securities 0 0    
Credit risk transfer securities 0 0    
Loans        
Mortgage servicing rights 0 0    
Derivative assets        
Other derivatives 8,636 0    
Total assets 8,636 0    
Liabilities        
Debt issued by securitization vehicles 0 0    
Participations issued 0 0    
U.S. Treasury securities sold, not yet purchased 2,077,404 2,132,751    
Derivative liabilities        
Interest rate swaps 0 0    
Other derivatives 69,565 179,835    
Total liabilities 2,146,969 2,312,586    
Fair Value, Measurements, Recurring | Level 1 | Assets transferred or pledged to securitization vehicles        
Loans        
Assets transferred or pledged to securitization vehicles 0 0    
Fair Value, Measurements, Recurring | Level 1 | Non-Agency mortgage-backed securities        
Assets        
Mortgage-backed securities 0 0    
Fair Value, Measurements, Recurring | Level 1 | Commercial mortgage-backed securities        
Assets        
Mortgage-backed securities 0 0    
Fair Value, Measurements, Recurring | Level 1 | Residential mortgage loans        
Loans        
Residential mortgage loans 0 0    
Fair Value, Measurements, Recurring | Level 1 | Interest rate swaps        
Derivative assets        
Interest rate swaps 0 0    
Fair Value, Measurements, Recurring | Level 2        
Assets        
Agency mortgage-backed securities 63,542,230 66,308,788    
Credit risk transfer securities 871,421 974,059    
Loans        
Mortgage servicing rights 0 0    
Derivative assets        
Other derivatives 148,367 136,213    
Total assets 85,028,425 85,436,828    
Liabilities        
Debt issued by securitization vehicles 13,690,967 11,600,338    
Participations issued 1,161,323 1,103,835    
U.S. Treasury securities sold, not yet purchased 0 0    
Derivative liabilities        
Interest rate swaps 20,931 83,051    
Other derivatives 12,646 39,409    
Total liabilities 14,885,867 12,826,633    
Fair Value, Measurements, Recurring | Level 2 | Assets transferred or pledged to securitization vehicles        
Loans        
Assets transferred or pledged to securitization vehicles 15,614,750 13,307,622    
Fair Value, Measurements, Recurring | Level 2 | Non-Agency mortgage-backed securities        
Assets        
Mortgage-backed securities 1,933,910 2,108,274    
Fair Value, Measurements, Recurring | Level 2 | Commercial mortgage-backed securities        
Assets        
Mortgage-backed securities 153,128 222,444    
Fair Value, Measurements, Recurring | Level 2 | Residential mortgage loans        
Loans        
Residential mortgage loans 2,717,823 2,353,084    
Fair Value, Measurements, Recurring | Level 2 | Interest rate swaps        
Derivative assets        
Interest rate swaps 46,796 26,344    
Fair Value, Measurements, Recurring | Level 3        
Assets        
Agency mortgage-backed securities 0 0    
Credit risk transfer securities 0 0    
Loans        
Mortgage servicing rights 2,651,279 2,122,196    
Derivative assets        
Other derivatives 0 0    
Total assets 2,651,279 2,122,196    
Liabilities        
Debt issued by securitization vehicles 0 0    
Participations issued 0 0    
U.S. Treasury securities sold, not yet purchased 0 0    
Derivative liabilities        
Interest rate swaps 0 0    
Other derivatives 0 0    
Total liabilities 0 0    
Fair Value, Measurements, Recurring | Level 3 | Assets transferred or pledged to securitization vehicles        
Loans        
Assets transferred or pledged to securitization vehicles 0 0    
Fair Value, Measurements, Recurring | Level 3 | Non-Agency mortgage-backed securities        
Assets        
Mortgage-backed securities 0 0    
Fair Value, Measurements, Recurring | Level 3 | Commercial mortgage-backed securities        
Assets        
Mortgage-backed securities 0 0    
Fair Value, Measurements, Recurring | Level 3 | Residential mortgage loans        
Loans        
Residential mortgage loans 0 0    
Fair Value, Measurements, Recurring | Level 3 | Interest rate swaps        
Derivative assets        
Interest rate swaps $ 0 $ 0    
[1]
(1)Derived from the audited consolidated financial statements at December 31, 2023.