v3.26.1
LOANS HELD-FOR-INVESTMENT - Schedule of Current Expected Credit Losses to Loans Held for Investment (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Financing Receivable, Allowance for Credit Loss [Roll Forward]    
Beginning balance $ 3,370,877 $ 4,264,465
Provision for (reversal of) credit losses (94,258) 259,538
Charge-offs of CECL (92,895) (4,989)
Ending balance 3,454,589 3,370,877
Gross Credit Losses    
Financing Receivable, Allowance for Credit Loss [Roll Forward]    
Beginning balance 406,730 143,158
Provision for (reversal of) credit losses 3,013 268,561
Charge-offs of CECL (92,895) (4,989)
Ending balance 316,848 406,730
First mortgage loans | Gross Credit Losses    
Financing Receivable, Allowance for Credit Loss [Roll Forward]    
Beginning balance 381,825 109,240
Provision for (reversal of) credit losses (7,122) 272,585
Charge-offs of CECL (87,475) 0
Ending balance 287,228 381,825
Unfunded First Mortgage Loans | Gross Credit Losses    
Financing Receivable, Allowance for Credit Loss [Roll Forward]    
Beginning balance 13,917 10,062
Provision for (reversal of) credit losses 4,213 3,855
Charge-offs of CECL 0 0
Ending balance 18,130 13,917
Liquid Corporate Senior Loans    
Financing Receivable, Allowance for Credit Loss [Roll Forward]    
Beginning balance 35,653 518,252
Provision for (reversal of) credit losses (1,569) (13,924)
Charge-offs of CECL (5,420) (4,989)
Ending balance 22,664 35,653
Liquid Corporate Senior Loans | Gross Credit Losses    
Financing Receivable, Allowance for Credit Loss [Roll Forward]    
Beginning balance 5,814 19,738
Provision for (reversal of) credit losses 3,851 (8,935)
Charge-offs of CECL (5,420) (4,989)
Ending balance 4,245 5,814
Unfunded or Unsettled Liquid Corporate Senior Loans | Gross Credit Losses    
Financing Receivable, Allowance for Credit Loss [Roll Forward]    
Beginning balance 0 3
Provision for (reversal of) credit losses 0 (3)
Charge-offs of CECL 0 0
Ending balance 0 0
Corporate Senior Loans    
Financing Receivable, Allowance for Credit Loss [Roll Forward]    
Beginning balance 250,120 207,102
Provision for (reversal of) credit losses 1,908 877
Charge-offs of CECL 0 0
Ending balance 357,474 250,120
Corporate Senior Loans | Gross Credit Losses    
Financing Receivable, Allowance for Credit Loss [Roll Forward]    
Beginning balance 4,497 3,620
Provision for (reversal of) credit losses 1,908 877
Charge-offs of CECL 0 0
Ending balance 6,405 4,497
Unfunded Corporate Senior Loans | Gross Credit Losses    
Financing Receivable, Allowance for Credit Loss [Roll Forward]    
Beginning balance 677 495
Provision for (reversal of) credit losses 163 182
Charge-offs of CECL 0 0
Ending balance $ 840 $ 677