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REAL ESTATE SECURITIES - Summary of Securities (Details)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2020
USD ($)
security
Mar. 31, 2019
USD ($)
Dec. 31, 2019
USD ($)
security
Debt Securities, Available-for-sale [Line Items]      
Outstanding Face Amount $ 3,630,654   $ 3,341,630
Amortized Cost Basis/Purchase Price 2,003,796   1,703,761
Gross Unrealized Gains 3,527   5,779
Gross Unrealized Losses (76,893)   (1,215)
Carrying Value $ 1,930,430   $ 1,708,325
Number of Securities | security 161   159
Weighted Average Coupon 1.48%   1.84%
Weighted Average Yield 2.25%   3.06%
Remaining Duration 2 years 3 months 25 days   2 years 4 months 20 days
Number of equity securities | security 3   2
Provision for current expected credit losses $ (26,581) $ (300)  
Amortized Cost Basis/Purchase Price 2,004,394   $ 1,716,609
Gross Unrealized Gains 3,527   6,071
Total real estate securities, Gross Unrealized Losses (77,316)   (1,375)
Carrying Value [1] $ 1,930,605   $ 1,721,305
Total number of Securities | security 164   161
CMBS      
Debt Securities, Available-for-sale [Line Items]      
Outstanding Face Amount $ 1,943,507   $ 1,640,597
Amortized Cost Basis/Purchase Price 1,943,359   1,640,905
Gross Unrealized Gains 1,476   4,337
Gross Unrealized Losses (76,686)   (920)
Carrying Value $ 1,868,149   $ 1,644,322
Number of Securities | security 127   125
Weighted Average Coupon 2.20%   3.06%
Weighted Average Yield 2.21%   3.08%
Remaining Duration 2 years 3 months 21 days   2 years 4 months 28 days
Risk retention requirement, amount $ 11,600   $ 11,600
CMBS interest-only      
Debt Securities, Available-for-sale [Line Items]      
Outstanding Face Amount 1,550,358   1,559,160
Amortized Cost Basis/Purchase Price 26,800   28,553
Gross Unrealized Gains 1,044   630
Gross Unrealized Losses (9)   (37)
Carrying Value $ 27,835   $ 29,146
Number of Securities | security 15   15
Weighted Average Coupon 0.60%   0.60%
Weighted Average Yield 2.99%   3.04%
Remaining Duration 2 years 5 months 15 days   2 years 6 months 10 days
Risk retention requirement, amount $ 800   $ 800
GNMA interest-only      
Debt Securities, Available-for-sale [Line Items]      
Outstanding Face Amount 105,009   109,783
Amortized Cost Basis/Purchase Price 1,661   1,982
Gross Unrealized Gains 139   123
Gross Unrealized Losses (193)   (254)
Carrying Value $ 1,607   $ 1,851
Number of Securities | security 11   11
Weighted Average Coupon 0.46%   0.49%
Weighted Average Yield 4.86%   4.59%
Remaining Duration 3 years 18 days   2 years 9 months 7 days
Agency securities      
Debt Securities, Available-for-sale [Line Items]      
Outstanding Face Amount $ 621   $ 629
Amortized Cost Basis/Purchase Price 631   640
Gross Unrealized Gains 2   1
Gross Unrealized Losses (5)   (4)
Carrying Value $ 628   $ 637
Number of Securities | security 2   2
Weighted Average Coupon 2.63%   2.65%
Weighted Average Yield 1.70%   1.73%
Remaining Duration 1 year 8 months 12 days   1 year 9 months 29 days
GNMA permanent securities      
Debt Securities, Available-for-sale [Line Items]      
Outstanding Face Amount $ 31,159   $ 31,461
Amortized Cost Basis/Purchase Price 31,345   31,681
Gross Unrealized Gains 866   688
Gross Unrealized Losses 0   0
Carrying Value $ 32,211   $ 32,369
Number of Securities | security 6   6
Weighted Average Coupon 3.90%   3.91%
Weighted Average Yield 3.50%   3.17%
Remaining Duration 2 years 7 months 9 days   1 year 11 months 4 days
Equity securities      
Debt Securities, Available-for-sale [Line Items]      
Amortized Cost Basis/Purchase Price $ 598   $ 12,848
Gross Unrealized Gains 0   292
Total debt securities, Gross Unrealized Losses (401)   (160)
Carrying Value 197   $ 12,980
Provision for current expected credit losses (22)    
Provision for current expected credit losses $ 22    
[1]
Includes amounts relating to consolidated variable interest entities. See Note 1.