DERIVATIVE INSTRUMENTS - Summary of Purchase and Sale Contracts for TBA Derivatives (Details) - TBA derivatives - USD ($) $ in Thousands |
6 Months Ended | 12 Months Ended |
|---|---|---|
Jun. 30, 2026 |
Dec. 31, 2025 |
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| Derivative [Line Items] | ||
| Notional | $ 7,177,000 | $ 3,327,000 |
| Implied Cost Basis | 7,169,573 | 3,252,601 |
| Implied Market Value | 7,216,874 | 3,257,086 |
| Net Carrying Value | 47,301 | 4,485 |
| Purchase contracts | ||
| Derivative [Line Items] | ||
| Notional | 7,777,000 | 3,861,000 |
| Implied Cost Basis | 7,659,953 | 3,805,867 |
| Implied Market Value | 7,708,118 | 3,814,118 |
| Net Carrying Value | 48,165 | 8,251 |
| Sale contracts | ||
| Derivative [Line Items] | ||
| Notional | (600,000) | (534,000) |
| Implied Cost Basis | (490,380) | (553,266) |
| Implied Market Value | (491,244) | (557,032) |
| Net Carrying Value | $ (864) | $ (3,766) |
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- Definition TBA Securities cost. No definition available.
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- Definition TBA Securities fair market value. No definition available.
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- Definition Nominal or face amount used to calculate payments on the derivative asset. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Fair value of the assets less the liabilities of a derivative or group of derivatives. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Nominal or face amount used to calculate payments on the derivative liability. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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