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FAIR VALUE OF FINANCIAL INSTRUMENTS - Summary of Financial Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Assets:
Fair value of assets	$ 3,619,312	$ 3,451,739
Provision for current expected credit losses	(49,457)	(20,500)
Liabilities:
Fair value of liabilities	4,842,833	4,943,914
Repurchase agreements - short-term
Liabilities:
Outstanding Face Amount	1,626,706	1,781,253
Fair value of liabilities	1,626,706	1,781,253
Repurchase agreements - long-term
Liabilities:
Outstanding Face Amount	100,094	34,681
Fair value of liabilities	100,094	34,681
Revolving Credit Facility
Liabilities:
Outstanding Face Amount		266,430
Fair value of liabilities		266,430
Mortgage loan financing
Liabilities:
Outstanding Face Amount	801,515	807,854
Fair value of liabilities	830,648	838,766
Borrowings from the FHLB
Liabilities:
Outstanding Face Amount	1,007,581	1,073,500
Fair value of liabilities	1,012,997	1,080,354
Senior unsecured notes
Liabilities:
Outstanding Face Amount	1,891,897	1,166,201
Fair value of liabilities	1,005,958	1,208,860
CMBS
Assets:
Outstanding Face Amount	12,096	12,121
Fair value of assets	11,590	11,608
CMBS interest-only
Assets:
Outstanding Face Amount	11,075	11,099
Fair value of assets	770	804
Provision for current expected credit losses	(22)
Total mortgage loan receivables held for investment, net, at amortized cost
Assets:
Outstanding Face Amount	3,453,893	3,277,597
Fair value of assets	3,447,851	3,273,219
Mortgage loan receivables held for sale
Assets:
Outstanding Face Amount	154,833	122,748
Fair value of assets	146,961	124,989
FHLB stock
Assets:
Outstanding Face Amount	61,619	61,619
Fair value of assets	61,619	61,619
Level 1
Assets:
Fair value of assets	0	0
Provision for current expected credit losses	0	0
Liabilities:
Fair value of liabilities	0	0
Level 1 | Repurchase agreements - short-term
Liabilities:
Fair value of liabilities	0	0
Level 1 | Repurchase agreements - long-term
Liabilities:
Fair value of liabilities	0	0
Level 1 | Revolving Credit Facility
Liabilities:
Fair value of liabilities		0
Level 1 | Mortgage loan financing
Liabilities:
Fair value of liabilities	0	0
Level 1 | Borrowings from the FHLB
Liabilities:
Fair value of liabilities	0	0
Level 1 | Senior unsecured notes
Liabilities:
Fair value of liabilities	0	0
Level 1 | CMBS
Assets:
Fair value of assets	0	0
Level 1 | CMBS interest-only
Assets:
Fair value of assets	0	0
Level 1 | Total mortgage loan receivables held for investment, net, at amortized cost
Assets:
Fair value of assets	0	0
Level 1 | Mortgage loan receivables held for sale
Assets:
Fair value of assets	0	0
Level 1 | FHLB stock
Assets:
Fair value of assets	0	0
Level 2
Assets:
Fair value of assets	0	0
Provision for current expected credit losses	0	0
Liabilities:
Fair value of liabilities	0	0
Level 2 | Repurchase agreements - short-term
Liabilities:
Fair value of liabilities	0	0
Level 2 | Repurchase agreements - long-term
Liabilities:
Fair value of liabilities	0	0
Level 2 | Revolving Credit Facility
Liabilities:
Fair value of liabilities		0
Level 2 | Mortgage loan financing
Liabilities:
Fair value of liabilities	0	0
Level 2 | Borrowings from the FHLB
Liabilities:
Fair value of liabilities	0	0
Level 2 | Senior unsecured notes
Liabilities:
Fair value of liabilities	0	0
Level 2 | CMBS
Assets:
Fair value of assets	0	0
Level 2 | CMBS interest-only
Assets:
Fair value of assets	0	0
Level 2 | Total mortgage loan receivables held for investment, net, at amortized cost
Assets:
Fair value of assets	0	0
Level 2 | Mortgage loan receivables held for sale
Assets:
Fair value of assets	0	0
Level 2 | FHLB stock
Assets:
Fair value of assets	0	0
Level 3
Assets:
Fair value of assets	3,619,312	3,451,739
Provision for current expected credit losses	(49,457)	(20,500)
Liabilities:
Fair value of liabilities	4,842,833	4,943,914
Level 3 | Repurchase agreements - short-term
Liabilities:
Fair value of liabilities	1,626,706	1,781,253
Level 3 | Repurchase agreements - long-term
Liabilities:
Fair value of liabilities	100,094	34,681
Level 3 | Revolving Credit Facility
Liabilities:
Fair value of liabilities		266,430
Level 3 | Mortgage loan financing
Liabilities:
Fair value of liabilities	830,648	838,766
Level 3 | Borrowings from the FHLB
Liabilities:
Fair value of liabilities	1,012,997	1,080,354
Level 3 | Senior unsecured notes
Liabilities:
Fair value of liabilities	1,005,958	1,208,860
Level 3 | CMBS
Assets:
Fair value of assets	11,590	11,608
Level 3 | CMBS interest-only
Assets:
Fair value of assets	770	804
Provision for current expected credit losses	(22)
Level 3 | Total mortgage loan receivables held for investment, net, at amortized cost
Assets:
Fair value of assets	3,447,851	3,273,219
Level 3 | Mortgage loan receivables held for sale
Assets:
Fair value of assets	146,961	124,989
Level 3 | FHLB stock
Assets:
Fair value of assets	61,619	61,619
Recurring
Assets:
Fair value of assets	1,919,217	1,709,586
Recurring | Nonhedge derivatives
Liabilities:
Nonhedge derivative liabilities	69,571	69,571
Fair value of liabilities	0	0
Recurring | CMBS
Assets:
Outstanding Face Amount	1,931,411	1,628,476
Fair value of assets	1,856,559	1,632,714
Recurring | CMBS interest-only
Assets:
Outstanding Face Amount	1,539,283	1,548,061
Fair value of assets	27,065	28,342
Recurring | GNMA interest-only
Assets:
Outstanding Face Amount	105,009	109,783
Fair value of assets	1,607	1,851
Recurring | Agency securities
Assets:
Outstanding Face Amount	621	629
Fair value of assets	628	637
Recurring | GNMA permanent securities
Assets:
Outstanding Face Amount	31,159	31,461
Fair value of assets	32,211	32,369
Recurring | Equity securities
Assets:
Fair value of assets	197	12,980
Recurring | Nonhedge derivatives
Assets:
Fair value of assets	950	693
Nonhedge derivative assets	121,400	340,200
Recurring | Level 1
Assets:
Fair value of assets	197	12,980
Recurring | Level 1 | Nonhedge derivatives
Liabilities:
Fair value of liabilities	0	0
Recurring | Level 1 | CMBS
Assets:
Fair value of assets	0	0
Recurring | Level 1 | CMBS interest-only
Assets:
Fair value of assets	0	0
Recurring | Level 1 | GNMA interest-only
Assets:
Fair value of assets	0	0
Recurring | Level 1 | Agency securities
Assets:
Fair value of assets	0	0
Recurring | Level 1 | GNMA permanent securities
Assets:
Fair value of assets	0	0
Recurring | Level 1 | Equity securities
Assets:
Fair value of assets	197	12,980
Recurring | Level 1 | Nonhedge derivatives
Assets:
Fair value of assets	0	0
Recurring | Level 2
Assets:
Fair value of assets	950	693
Recurring | Level 2 | Nonhedge derivatives
Liabilities:
Fair value of liabilities	0	0
Recurring | Level 2 | CMBS
Assets:
Fair value of assets	0	0
Recurring | Level 2 | CMBS interest-only
Assets:
Fair value of assets	0	0
Recurring | Level 2 | GNMA interest-only
Assets:
Fair value of assets	0	0
Recurring | Level 2 | Agency securities
Assets:
Fair value of assets	0	0
Recurring | Level 2 | GNMA permanent securities
Assets:
Fair value of assets	0	0
Recurring | Level 2 | Nonhedge derivatives
Assets:
Fair value of assets	950	693
Recurring | Level 3
Assets:
Fair value of assets	1,918,070	1,695,913
Recurring | Level 3 | Nonhedge derivatives
Liabilities:
Fair value of liabilities	0	0
Recurring | Level 3 | CMBS
Assets:
Fair value of assets	1,856,559	1,632,714
Recurring | Level 3 | CMBS interest-only
Assets:
Fair value of assets	27,065	28,342
Recurring | Level 3 | GNMA interest-only
Assets:
Fair value of assets	1,607	1,851
Recurring | Level 3 | Agency securities
Assets:
Fair value of assets	628	637
Recurring | Level 3 | GNMA permanent securities
Assets:
Fair value of assets	32,211	32,369
Recurring | Level 3 | Nonhedge derivatives
Assets:
Fair value of assets	$ 0	$ 0

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