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SEGMENT REPORTING - Schedule of Segments (Details) - USD ($)
$ in Thousands
 3 Months Ended
May 01, 2019
Feb. 06, 2019
Mar. 31, 2020
Mar. 31, 2019
Dec. 31, 2019
Income Statement [Abstract]          
Interest income     $ 72,589 $ 86,466  
Interest expense     (51,401) (51,248)  
Net interest income (expense)     21,188 35,218  
Provision for loan losses     (26,581) (300)  
Net interest income after provision for loan losses     (5,393) 34,918  
Operating lease income $ 3,900   26,328 28,921  
Sale of loans, net     1,005 7,079  
Realized gain (loss) on securities     3,011 2,865  
Unrealized gain (loss) on equity securities     (533) 2,078  
Unrealized gain (loss) on Agency interest-only securities     76 11  
Realized gain (loss) on sale of real estate, net     10,529 4  
Impairment of real estate     0 (1,350)  
Fee and other income     1,519 4,685  
Net result from derivative transactions     (15,435) (11,034)  
Earnings (loss) from investment in unconsolidated joint ventures     441 959  
Gain (loss) on extinguishment/defeasance of debt   $ (1,100) 2,061 (1,070)  
Total other income (loss)     29,002 33,148  
Salaries and employee benefits     (17,021) (23,574)  
Operating expenses     (5,794) (5,403)  
Real estate operating expenses     (7,948) (5,474)  
Fee expense     (1,439) (1,712)  
Depreciation and amortization $ (400)   (10,009) (10,227)  
Total costs and expenses     (42,211) (46,390)  
Income tax (expense) benefit     4,541 2,854  
Net income (loss)     (14,061) 24,530  
Total assets [1]     7,331,872   $ 6,669,152
Investment in unconsolidated joint ventures [1]     48,659   48,433
Investment in FHLB stock [1]     61,619   61,619
Professional fees     3,100 2,500  
Operating Segment          
Income Statement [Abstract]          
Investment in unconsolidated joint ventures     48,700   48,400
Operating Segment | Loans          
Income Statement [Abstract]          
Interest income     58,905 73,152  
Interest expense     (4,870) (14,756)  
Net interest income (expense)     54,035 58,396  
Provision for loan losses     (26,581) (300)  
Net interest income after provision for loan losses     27,454 58,096  
Operating lease income     0 0  
Sale of loans, net     1,005 7,079  
Realized gain (loss) on securities     0 0  
Unrealized gain (loss) on equity securities     0 0  
Unrealized gain (loss) on Agency interest-only securities     0 0  
Realized gain (loss) on sale of real estate, net     0 0  
Impairment of real estate     0 0  
Fee and other income     1,424 3,310  
Net result from derivative transactions     (11,351) (5,198)  
Earnings (loss) from investment in unconsolidated joint ventures     0 0  
Gain (loss) on extinguishment/defeasance of debt     0 0  
Total other income (loss)     (8,922) 5,191  
Salaries and employee benefits     0 0  
Operating expenses     0 0  
Real estate operating expenses     0 0  
Fee expense     (1,190) (1,194)  
Depreciation and amortization     0 0  
Total costs and expenses     (1,190) (1,194)  
Income tax (expense) benefit     0 0  
Net income (loss)     17,342 62,093  
Total assets     3,530,035   3,358,861
Operating Segment | Securities          
Income Statement [Abstract]          
Interest income     12,863 13,119  
Interest expense     (6,759) (2,488)  
Net interest income (expense)     6,104 10,631  
Provision for loan losses     0 0  
Net interest income after provision for loan losses     6,104 10,631  
Operating lease income     0 0  
Sale of loans, net     0 0  
Realized gain (loss) on securities     3,011 2,865  
Unrealized gain (loss) on equity securities     (533) 2,078  
Unrealized gain (loss) on Agency interest-only securities     76 11  
Realized gain (loss) on sale of real estate, net     0 0  
Impairment of real estate     0 0  
Fee and other income     401 403  
Net result from derivative transactions     (4,084) (5,836)  
Earnings (loss) from investment in unconsolidated joint ventures     0 0  
Gain (loss) on extinguishment/defeasance of debt     0 0  
Total other income (loss)     (1,129) (479)  
Salaries and employee benefits     0 0  
Operating expenses     0 0  
Real estate operating expenses     0 0  
Fee expense     (72) (100)  
Depreciation and amortization     0 0  
Total costs and expenses     (72) (100)  
Income tax (expense) benefit     0 0  
Net income (loss)     4,903 10,052  
Total assets     1,930,605   1,721,305
Operating Segment | Real Estate          
Income Statement [Abstract]          
Interest income     8 8  
Interest expense     (10,234) (8,882)  
Net interest income (expense)     (10,226) (8,874)  
Provision for loan losses     0 0  
Net interest income after provision for loan losses     (10,226) (8,874)  
Operating lease income     26,328 28,921  
Sale of loans, net     0 0  
Realized gain (loss) on securities     0 0  
Unrealized gain (loss) on equity securities     0 0  
Unrealized gain (loss) on Agency interest-only securities     0 0  
Realized gain (loss) on sale of real estate, net     10,529 4  
Impairment of real estate     0 (1,350)  
Fee and other income     25 7  
Net result from derivative transactions     0 0  
Earnings (loss) from investment in unconsolidated joint ventures     441 959  
Gain (loss) on extinguishment/defeasance of debt     0 (1,070)  
Total other income (loss)     37,323 27,471  
Salaries and employee benefits     0 0  
Operating expenses     0 0  
Real estate operating expenses     (7,948) (5,474)  
Fee expense     (177) (418)  
Depreciation and amortization     (9,984) (10,202)  
Total costs and expenses     (18,109) (16,094)  
Income tax (expense) benefit     0 0  
Net income (loss)     8,988 2,503  
Total assets     1,096,077   1,096,514
Corporate/Other          
Income Statement [Abstract]          
Interest income     813 187  
Interest expense     (29,538) (25,122)  
Net interest income (expense)     (28,725) (24,935)  
Provision for loan losses     0 0  
Net interest income after provision for loan losses     (28,725) (24,935)  
Operating lease income     0 0  
Sale of loans, net     0 0  
Realized gain (loss) on securities     0 0  
Unrealized gain (loss) on equity securities     0 0  
Unrealized gain (loss) on Agency interest-only securities     0 0  
Realized gain (loss) on sale of real estate, net     0 0  
Impairment of real estate     0 0  
Fee and other income     (331) 965  
Net result from derivative transactions     0 0  
Earnings (loss) from investment in unconsolidated joint ventures     0 0  
Gain (loss) on extinguishment/defeasance of debt     2,061 0  
Total other income (loss)     1,730 965  
Salaries and employee benefits     (17,021) (23,574)  
Operating expenses     (5,794) (5,403)  
Real estate operating expenses     0 0  
Fee expense     0 0  
Depreciation and amortization     (25) (25)  
Total costs and expenses     (22,840) (29,002)  
Income tax (expense) benefit     4,541 2,854  
Net income (loss)     (45,294) $ (50,118)  
Total assets     775,155   492,472
Investment in FHLB stock     61,600   61,600
Deferred tax (liability)     (14,200)    
Deferred tax asset         (2,100)
Corporate/Other | Senior Unsecured Notes          
Income Statement [Abstract]          
Senior notes     $ 1,900,000   $ 1,200,000
[1]
Includes amounts relating to consolidated variable interest entities. See Note 1.