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Other Assets and Liabilities | 9 Months Ended
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Sep. 30, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] |
Other Assets and Liabilities | Other Assets and Liabilities Other assets at September 30, 2022 and December 31, 2021 are summarized in the following table. Table 13.1 – Components of Other Assets
(In Thousands) |  | September 30, 2022 |  | December 31, 2021
Accrued interest receivable |  | $ | 54,944 |  |  | $ | 47,515 |
Investment receivable |  | 50,149 |  |  | 82,781 |
Deferred tax asset |  | 20,867 |  |  | 20,867 |
Operating lease right-of-use assets |  | 17,126 |  |  | 18,772 |
Income tax receivables |  | 13,959 |  |  | 22 |
Fixed assets and leasehold improvements (1) |  | 12,411 |  |  | 9,019 |
Margin receivable |  | 6,683 |  |  | 7,269 |
REO |  | 3,683 |  |  | 36,126 |
Other |  | 14,678 |  |  | 8,746 |
Total Other Assets |  | $ | 194,500 |  |  | $ | 231,117 |
(1)Fixed assets and leasehold improvements had a basis of $22 million and accumulated depreciation of $9 million at September 30, 2022. Accrued expenses and other liabilities at September 30, 2022 and December 31, 2021 are summarized in the following table. Table 13.2 – Components of Accrued Expenses and Other Liabilities
(In Thousands) |  | September 30, 2022 |  | December 31, 2021
Payable to non-controlling interests |  | $ | 47,487 |  |  | $ | 42,670 |
Accrued interest payable |  | 46,938 |  |  | 39,297 |
Margin payable |  | 30,389 |  |  | 24,368 |
Accrued compensation |  | 23,488 |  |  | 74,636 |
Operating lease liabilities |  | 19,533 |  |  | 20,960 |
Guarantee obligations |  | 6,532 |  |  | 7,459 |
Residential loan and MSR repurchase reserve |  | 5,754 |  |  | 9,306 |
Accrued operating expenses |  | 4,956 |  |  | 4,377 |
Current accounts payable |  | 4,722 |  |  | 8,273 |
Bridge loan holdbacks |  | 3,930 |  |  | 3,109 |
Other |  | 7,396 |  |  | 11,333 |
Total Accrued Expenses and Other Liabilities |  | $ | 201,125 |  |  | $ | 245,788 |
Refer to Note 12 to the Consolidated Financial Statements included in our Annual Report on Form 10-K for the year ended December 31, 2021 for additional descriptions of our other assets and liabilities. Margin Receivable and Payable Margin receivable and payable resulted from margin calls between us and our counterparties under derivatives, master repurchase agreements, and warehouse facilities, whereby we or the counterparty posted collateral. Through September 30, 2022, we had met all margin calls due. REO The following table summarizes the activity and carrying values of REO assets held at Redwood and at consolidated Legacy Sequoia, Freddie Mac SLST, and CAFL SFR entities during the nine months ended September 30, 2022. Table 13.3 – REO Activity
|  | Nine Months Ended September 30, 2022
(In Thousands) |  | Bridge |  | Legacy Sequoia |  | Freddie Mac SLST |  | SFR at CAFL |  | Total
Balance at beginning of period |  | $ | 13,067 |  |  | $ | 61 |  |  | $ | 2,028 |  |  | $ | 20,970 |  |  | $ | 36,126 |
Transfers to REO |  | 963 |  |  | 407 |  |  | 2,664 |  |  | — |  |  | 4,034 |
Liquidations (1) |  | (14,271) |  |  | (505) |  |  | (2,395) |  |  | (20,970) |  |  | (38,141) |
Changes in fair value, net |  | 974 |  |  | 443 |  |  | 247 |  |  | — |  |  | 1,664 |
Balance at End of Period |  | $ | 733 |  |  | $ | 406 |  |  | $ | 2,544 |  |  | $ | — |  |  | $ | 3,683 |
(1)For the nine months ended September 30, 2022, REO liquidations resulted in $2 million of realized gains, which were recorded in Investment fair value changes, net on our consolidated statements of income (loss).

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