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FAIR VALUE MEASUREMENTS - Fair Value Liabilities Measured at Fair Value on a Recurring Basis using Level 3 Inputs (Details) - Recurring Basis - USD ($) $ in Thousands | 3 Months Ended
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Mar. 31, 2025 | Mar. 31, 2024
Level 3 |  |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Beginning balance | $ 2,482,756 | $ 772,925
Transfers out of Level 3 | (367,031) |
Gains (Losses) Included in Net Income: |  |
Servicing revenue, net | 3,634 |
Other income | (4,017) | 4,619
Purchases, Issuance and Repayments: |  |
Repayments | (11,592) | (13,437)
Other | 565 |
Ending balance | 2,104,315 | 764,107
Asset-Backed Securities Issued |  |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Beginning balance | 185,500 |
Purchases, Issuance and Repayments: |  |
Ending balance | 169,000 |
Asset-Backed Securities Issued | Level 3 |  |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Beginning balance | 185,460 | 235,770
Transfers out of Level 3 | 0 |
Gains (Losses) Included in Net Income: |  |
Servicing revenue, net | 0 |
Other income | (4,833) | (411)
Purchases, Issuance and Repayments: |  |
Repayments | (11,592) | (13,437)
Other | 0 |
Ending balance | 169,035 | 221,922
Notes Payable of CFEs - Consolidated Funds | Level 3 |  |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Beginning balance | 959,958 | 218,157
Transfers out of Level 3 | (367,031) |
Gains (Losses) Included in Net Income: |  |
Servicing revenue, net | 0 |
Other income | (849) | (34)
Purchases, Issuance and Repayments: |  |
Repayments | 0 | 0
Other | 0 |
Ending balance | 592,078 | 218,123
Notes Payable of CFEs - Residential Transition Loans | Level 3 |  |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Beginning balance | 859,023 | 318,998
Transfers out of Level 3 | 0 |
Gains (Losses) Included in Net Income: |  |
Servicing revenue, net | 0 |
Other income | 171 | 5,064
Purchases, Issuance and Repayments: |  |
Repayments | 0 | 0
Other | 566 |
Ending balance | 859,760 | 324,062
Excess Spread Financing | Level 3 |  |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Beginning balance | 101,088 | 0
Transfers out of Level 3 | 0 |
Gains (Losses) Included in Net Income: |  |
Servicing revenue, net | 3,634 |
Other income | 0 | 0
Purchases, Issuance and Repayments: |  |
Repayments | 0 | 0
Other | (1) |
Ending balance | 104,721 | 0
Notes Receivable Financing | Level 3 |  |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Beginning balance | 377,227 | 0
Transfers out of Level 3 | 0 |
Gains (Losses) Included in Net Income: |  |
Servicing revenue, net | 0 |
Other income | 1,494 | 0
Purchases, Issuance and Repayments: |  |
Repayments | 0 | 0
Other | 0 |
Ending balance | $ 378,721 | $ 0

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