INTEREST INCOME AND INTEREST EXPENSE - Components of Company's Interest Income and Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Interest income
Agency securities	$ 686,912	$ 497,135	$ 1,290,014	$ 1,020,086
Residential credit securities	56,477	30,037	110,222	52,159
Residential mortgage loans	162,202	91,648	309,433	165,136
Commercial investment portfolio	8,310	26,575	18,197	63,858
Reverse repurchase agreements	7,593	220	11,878	226
Total interest income	921,494	645,615	1,739,744	1,301,465
Interest expense
Repurchase agreements	841,257	105,608	1,539,999	132,487
Debt issued by securitization vehicles	101,819	50,303	190,753	84,928
Participations issued	10,381	9,379	21,492	15,231
Other	0	5,185	0	12,751
Total interest expense	953,457	170,475	1,752,244	245,397
Net interest income	$ (31,963)	$ 475,140	$ (12,500)	$ 1,056,068