v3.26.1
FINANCIAL INSTRUMENTS (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Jun. 30, 2025
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]      
Assets $ 143,741,176 $ 135,609,838 [1] $ 112,141,892
Liabilities 126,762,800 119,449,927 [1]  
Total securities      
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]      
Assets 89,515,485 91,287,630  
Agency mortgage-backed securities, recognized through comprehensive income      
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]      
Assets 6,014,557 6,462,112  
Agency mortgage-backed securities, recognized through earnings      
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]      
Assets 81,754,021 83,166,542  
Residential credit risk transfer securities      
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]      
Assets 46,872 213,800  
Non-agency mortgage-backed securities      
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]      
Assets 1,565,016 1,445,176  
Commercial real estate debt investments - CMBS      
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]      
Assets 135,019 0  
Residential mortgage loans      
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]      
Assets 7,280,979 5,020,784  
Interests in MSR      
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]      
Assets 106,775 28,626  
Residential mortgage loans      
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]      
Assets 38,256,690 32,067,433  
Reverse repurchase agreements      
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]      
Assets 33,047 34,389  
Repurchase agreements      
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]      
Liabilities 86,895,874 81,865,723  
Other secured financing      
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]      
Liabilities 1,125,000 1,075,000  
Debt issued by securitization vehicles      
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]      
Liabilities 34,366,098 28,918,753  
Participations issued      
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]      
Liabilities 2,553,709 1,932,655  
U.S. Treasury securities sold, not yet purchased      
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]      
Liabilities $ 0 $ 2,396,724  
[1]
(1)Derived from the audited consolidated financial statements at December 31, 2025.