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Other Assets and Liabilities (Tables) | 9 Months Ended
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Sep. 30, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] |
Schedule of Components of Other Assets | Other assets at September 30, 2023 and December 31, 2022 are summarized in the following table. Table 13.1 – Components of Other Assets
(In Thousands) |  | September 30, 2023 |  | December 31, 2022
Accrued interest receivable |  | $ | 60,762 |  |  | $ | 60,893 |
REO |  | 54,123 |  |  | 6,455 |
Deferred tax asset |  | 41,931 |  |  | 41,931 |
Investment receivable |  | 36,816 |  |  | 36,623 |
Operating lease right-of-use assets |  | 13,367 |  |  | 16,177 |
Margin receivable |  | 10,536 |  |  | 13,802 |
Fixed assets and leasehold improvements (1) |  | 8,453 |  |  | 12,616 |
Income tax receivables |  | 1,654 |  |  | 3,399 |
Other |  | 22,845 |  |  | 19,344 |
Total Other Assets |  | $ | 250,487 |  |  | $ | 211,240 |
(1)Fixed assets and leasehold improvements had a basis of $17 million and accumulated depreciation of $9 million at September 30, 2023.
Schedule of Components of Accrued Expenses and Other Liabilities | Accrued expenses and other liabilities at September 30, 2023 and December 31, 2022 are summarized in the following table. Table 13.2 – Components of Accrued Expenses and Other Liabilities
(In Thousands) |  | September 30, 2023 |  | December 31, 2022
Accrued interest payable |  | $ | 51,849 |  |  | $ | 46,612 |
Payable to noncontrolling interests |  | 48,496 |  |  | 44,859 |
Margin payable |  | 25,210 |  |  | 5,944 |
Accrued compensation |  | 23,249 |  |  | 30,929 |
Operating lease liabilities |  | 15,630 |  |  | 18,563 |
Unsettled trades |  | 6,110 |  |  | — |
Accrued operating expenses |  | 6,063 |  |  | 5,740 |
Guarantee obligations |  | 5,913 |  |  | 6,344 |
Residential loan and MSR repurchase reserve |  | 4,611 |  |  | 7,051 |
Current accounts payable |  | 4,588 |  |  | 4,234 |
Bridge loan holdbacks |  | 1,973 |  |  | 3,301 |
Preferred stock dividends payable |  | 1,478 |  |  | — |
Other |  | 13,124 |  |  | 6,626 |
Total Accrued Expenses and Other Liabilities |  | $ | 208,294 |  |  | $ | 180,203 |
Schedule of Other Real Estate | 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, 2023. Table 13.3 – REO Activity
|  | Nine Months Ended September 30, 2023
(In Thousands) |  | BPL Bridge |  | Legacy Sequoia |  | Freddie Mac SLST |  | BPL Term at CAFL |  | Total
Balance at beginning of period |  | $ | 3,012 |  |  | $ | 544 |  |  | $ | 2,899 |  |  | $ | — |  |  | $ | 6,455 |
Transfers to REO |  | 48,864 |  |  | 18 |  |  | 2,340 |  |  | 2,684 |  |  | 53,906 |
Liquidations (1) |  | (2,310) |  |  | (562) |  |  | (2,754) |  |  | — |  |  | (5,626) |
Changes in fair value, net |  | (992) |  |  | — |  |  | 380 |  |  | — |  |  | (612) |
Balance at End of Period |  | $ | 48,574 |  |  | $ | — |  |  | $ | 2,865 |  |  | $ | 2,684 |  |  | $ | 54,123 |
(1)For the nine months ended September 30, 2023, REO liquidations resulted in $0.6 million of realized losses, which were recorded in Investment fair value changes, net on our consolidated statements of income. The following table provides detail on the numbers of REO assets at Redwood and at consolidated Legacy Sequoia, Freddie Mac SLST, and CAFL entities at September 30, 2023 and December 31, 2022. Table 13.4 – REO Assets
Number of REO assets |  | Redwood Bridge |  | Legacy Sequoia |  | Freddie Mac SLST |  | BPL Term at CAFL |  | Total
At September 30, 2023 |  | 9 |  |  | — |  |  | 25 |  |  | 1 |  |  | 35 |
At December 31, 2022 |  | 2 |  |  | 2 |  |  | 24 |  |  | — |  |  | 28 |

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