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FAIR VALUE MEASUREMENTS - Estimated Fair Values of Financial Instruments (Details) - USD ($)
$ in Thousands
Jun. 30, 2022
Mar. 31, 2022
Dec. 31, 2021
Jun. 30, 2021
Mar. 31, 2021
Dec. 31, 2020
Assets            
Mortgage-backed securities [1] $ 59,042,734   $ 63,655,674 [2]      
Loans            
Mortgage servicing rights 1,421,420 $ 1,108,937 544,562 $ 202,616 $ 113,080 $ 100,895
Derivative assets            
Derivative assets 748,432   170,370 [2]      
Liabilities            
Participations issued 696,944   1,049,066 [2]      
Derivative liabilities            
Interest rate swaps 272,055   747,036      
Residential Mortgage Loans            
Loans            
Residential mortgage loans 9,905,790   7,768,507      
Fair Value, Measurements, Recurring            
Assets            
Agency mortgage-backed securities 55,593,336   60,525,605      
Credit risk transfer securities 965,714   936,228      
Loans            
Mortgage servicing rights 1,421,420   544,562      
Interests in MSR 83,622   69,316      
Assets transferred or pledged to securitization vehicles     6,086,308      
Derivative assets            
Other derivatives 739,024   170,370      
Total assets 71,660,588   72,799,282      
Liabilities            
Debt issued by securitization vehicles 7,502,483   5,155,633      
Participations issued 696,944   1,049,066      
Derivative liabilities            
Interest rate swaps 272,055   747,036      
Other derivatives 107,653   134,501      
Total liabilities 8,579,135   7,086,236      
Fair Value, Measurements, Recurring | Asset Transferred or Pledged            
Loans            
Assets transferred or pledged to securitization vehicles 8,877,247          
Fair Value, Measurements, Recurring | Non-Agency Mortgage-Backed Securities            
Assets            
Mortgage-backed securities 2,026,658   1,663,336      
Fair Value, Measurements, Recurring | Commercial Mortgage-Backed Securities            
Assets            
Mortgage-backed securities 457,026   530,505      
Fair Value, Measurements, Recurring | Residential Mortgage Loans            
Loans            
Residential mortgage loans 1,486,811   2,272,072      
Residential mortgage loan warehouse facility 322   980      
Fair Value, Measurements, Recurring | Interest rate swaps            
Derivative assets            
Derivative assets 9,408          
Fair Value, Measurements, Recurring | Level 1            
Assets            
Agency mortgage-backed securities 0   0      
Credit risk transfer securities 0   0      
Loans            
Mortgage servicing rights 0   0      
Interests in MSR 0   0      
Derivative assets            
Other derivatives 341,430   9,028      
Total assets 341,430   9,028      
Liabilities            
Debt issued by securitization vehicles 0   0      
Participations issued 0   0      
Derivative liabilities            
Interest rate swaps 0   0      
Other derivatives 3,020   129,134      
Total liabilities 3,020   129,134      
Fair Value, Measurements, Recurring | Level 1 | Asset Transferred or Pledged            
Loans            
Assets transferred or pledged to securitization vehicles 0   0      
Fair Value, Measurements, Recurring | Level 1 | Non-Agency Mortgage-Backed Securities            
Assets            
Mortgage-backed securities 0   0      
Fair Value, Measurements, Recurring | Level 1 | Commercial Mortgage-Backed Securities            
Assets            
Mortgage-backed securities 0   0      
Fair Value, Measurements, Recurring | Level 1 | Residential Mortgage Loans            
Loans            
Residential mortgage loans 0   0      
Residential mortgage loan warehouse facility 0   0      
Fair Value, Measurements, Recurring | Level 1 | Interest rate swaps            
Derivative assets            
Derivative assets 0          
Fair Value, Measurements, Recurring | Level 2            
Assets            
Agency mortgage-backed securities 55,593,336   60,525,605      
Credit risk transfer securities 965,714   936,228      
Loans            
Mortgage servicing rights 0   0      
Interests in MSR 0   0      
Assets transferred or pledged to securitization vehicles     6,086,308      
Derivative assets            
Other derivatives 397,594   161,342      
Total assets 69,814,116   72,176,376      
Liabilities            
Debt issued by securitization vehicles 7,502,483   5,155,633      
Participations issued 696,944   1,049,066      
Derivative liabilities            
Interest rate swaps 272,055   747,036      
Other derivatives 104,633   5,367      
Total liabilities 8,576,115   6,957,102      
Fair Value, Measurements, Recurring | Level 2 | Asset Transferred or Pledged            
Loans            
Assets transferred or pledged to securitization vehicles 8,877,247          
Fair Value, Measurements, Recurring | Level 2 | Non-Agency Mortgage-Backed Securities            
Assets            
Mortgage-backed securities 2,026,658   1,663,336      
Fair Value, Measurements, Recurring | Level 2 | Commercial Mortgage-Backed Securities            
Assets            
Mortgage-backed securities 457,026   530,505      
Fair Value, Measurements, Recurring | Level 2 | Residential Mortgage Loans            
Loans            
Residential mortgage loans 1,486,811   2,272,072      
Residential mortgage loan warehouse facility 322   980      
Fair Value, Measurements, Recurring | Level 2 | Interest rate swaps            
Derivative assets            
Derivative assets 9,408          
Fair Value, Measurements, Recurring | Level 3            
Assets            
Agency mortgage-backed securities 0   0      
Credit risk transfer securities 0   0      
Loans            
Mortgage servicing rights 1,421,420   544,562      
Interests in MSR 83,622   69,316      
Assets transferred or pledged to securitization vehicles     0      
Derivative assets            
Other derivatives 0   0      
Total assets 1,505,042   613,878      
Liabilities            
Debt issued by securitization vehicles 0   0      
Participations issued 0   0      
Derivative liabilities            
Interest rate swaps 0   0      
Other derivatives 0   0      
Total liabilities 0   0      
Fair Value, Measurements, Recurring | Level 3 | Asset Transferred or Pledged            
Loans            
Assets transferred or pledged to securitization vehicles 0          
Fair Value, Measurements, Recurring | Level 3 | Non-Agency Mortgage-Backed Securities            
Assets            
Mortgage-backed securities 0   0      
Fair Value, Measurements, Recurring | Level 3 | Commercial Mortgage-Backed Securities            
Assets            
Mortgage-backed securities 0   0      
Fair Value, Measurements, Recurring | Level 3 | Residential Mortgage Loans            
Loans            
Residential mortgage loans 0   0      
Residential mortgage loan warehouse facility 0   $ 0      
Fair Value, Measurements, Recurring | Level 3 | Interest rate swaps            
Derivative assets            
Derivative assets $ 0          
[1] (3)Excludes $30.1 million and $44.2 million at June 30, 2022 and December 31, 2021, respectively, of Agency mortgage-backed securities and $971.9 million and $350.4 million at June 30, 2022 and December 31, 2021, respectively, of non-Agency mortgage-backed securities in consolidated VIEs pledged as collateral and eliminated from the Company’s Consolidated Statements of Financial Condition. 
[2] (1)Derived from the audited consolidated financial statements at December 31, 2021.