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REAL ESTATE SECURITIES - Summary of Securities (Details)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2019
USD ($)
security
Dec. 31, 2018
USD ($)
security
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount $ 4,105,143 $ 3,857,293
Amortized Cost Basis/Purchase Price 1,600,223 1,404,025
Gross Unrealized Gains 9,895 3,418
Gross Unrealized Losses (2,141) (8,867)
Carrying Value $ 1,607,977 $ 1,398,576
Number of Securities | security 195 179
Weighted Average Coupon % 1.73% 1.54%
Weighted Average Yield % 3.33% 3.19%
Remaining Duration (years) 2 years 6 months 7 days 2 years 4 months 24 days
Number of equity securities | security 2 3
Amortized Cost Basis/Purchase Price $ 1,610,901 $ 1,417,179
Gains 10,398 3,418
Losses (2,171) (10,471)
Carrying Value [1] $ 1,619,128 $ 1,410,126
Total number of Securities | security 197 182
CMBS    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount $ 1,475,469 $ 1,258,819
Amortized Cost Basis/Purchase Price 1,475,900 1,257,801
Gross Unrealized Gains 7,504 2,477
Gross Unrealized Losses (1,764) (7,638)
Carrying Value $ 1,481,640 $ 1,252,640
Number of Securities | security 153 138
Weighted Average Coupon % 3.44% 3.32%
Weighted Average Yield % 3.28% 3.14%
Remaining Duration (years) 2 years 6 months 2 years 3 months 29 days
Risk retention requirement, amount $ 11,700 $ 11,300
CMBS interest-only    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount 2,436,543 2,373,936
Amortized Cost Basis/Purchase Price 52,682 55,534
Gross Unrealized Gains 933 428
Gross Unrealized Losses (45) (271)
Carrying Value $ 53,570 $ 55,691
Number of Securities | security 20 19
Weighted Average Coupon % 0.69% 0.57%
Weighted Average Yield % 3.56% 2.80%
Remaining Duration (years) 2 years 7 months 6 days 2 years 8 months 8 days
Risk retention requirement, amount $ 900 $ 900
GNMA interest-only    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount 123,684 135,932
Amortized Cost Basis/Purchase Price 2,694 2,862
Gross Unrealized Gains 107 93
Gross Unrealized Losses (310) (307)
Carrying Value $ 2,491 $ 2,648
Number of Securities | security 12 12
Weighted Average Coupon % 0.53% 0.51%
Weighted Average Yield % 9.09% 6.30%
Remaining Duration (years) 2 years 6 months 21 days 4 years 1 month 9 days
Agency securities    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount $ 660 $ 668
Amortized Cost Basis/Purchase Price 673 682
Gross Unrealized Gains 0 0
Gross Unrealized Losses (12) (20)
Carrying Value $ 661 $ 662
Number of Securities | security 2 2
Weighted Average Coupon % 2.71% 2.73%
Weighted Average Yield % 1.81% 1.83%
Remaining Duration (years) 2 years 2 months 26 days 2 years 4 months 9 days
GNMA permanent securities    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount $ 32,346 $ 32,633
Amortized Cost Basis/Purchase Price 32,592 32,889
Gross Unrealized Gains 424 420
Gross Unrealized Losses (10) (245)
Carrying Value $ 33,006 $ 33,064
Number of Securities | security 6 6
Weighted Average Coupon % 3.94% 3.94%
Weighted Average Yield % 3.75% 3.76%
Remaining Duration (years) 4 years 10 months 13 days 5 years 10 days
Corporate bonds    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount $ 36,441 $ 55,305
Amortized Cost Basis/Purchase Price 35,682 54,257
Gross Unrealized Gains 927 0
Gross Unrealized Losses 0 (386)
Carrying Value $ 36,609 $ 53,871
Number of Securities | security 2 2
Weighted Average Coupon % 3.80% 4.08%
Weighted Average Yield % 5.00% 5.04%
Remaining Duration (years) 1 year 10 months 17 days 2 years 6 months 3 days
Common Stock    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost Basis/Purchase Price $ 10,678 $ 13,154
Gains 503 0
Losses (30) (1,604)
Carrying Value $ 11,151 $ 11,550
[1] Includes amounts relating to consolidated variable interest entities. See Note 3.