Other Assets and Other Liabilities

3 Months Ended

Mar. 31, 2023

11. Other Assets and Other Liabilities

Other Assets

The following table presents the components of the Company's other assets as of March 31, 2023 and December 31, 2022, respectively (dollar amounts in thousands):


	March 31, 2023		December 31, 2022
Restricted cash (1)	$	115,249	$	136,220
Accrued interest receivable	31,578		34,067
Collections receivable from residential loan servicers	16,150		15,374
Recoverable advances on residential loans	15,611		13,979
Other receivables	13,326		11,357
Other assets in consolidated multi-family properties	8,631		13,681
Operating lease right-of-use assets	7,524		7,831
Real estate owned	3,743		18,588
Derivative assets (2)	3,122		2,473
Deferred tax assets	2,448		2,671
Other	4,945		3,115
Total	$	222,327	$	259,356

(1)Restricted cash represents cash held by third parties, including cash held by the Company's securitization trusts and consolidated multi-family properties.

(2)Includes derivative asset held in a consolidated multi-family property.

Other Liabilities

The following table presents the components of the Company's other liabilities as of March 31, 2023 and December 31, 2022, respectively (dollar amounts in thousands):


	March 31, 2023		December 31, 2022
Dividends and dividend equivalents payable	$	49,129	$	49,996
Accrued interest payable	12,109		10,629
Operating lease liabilities	8,070		8,383
Accrued expenses	6,960		15,576
Accrued expenses and other liabilities in consolidated multi-family properties	6,149		10,511
Deferred revenue	5,953		7,131
Advanced remittances from residential loan servicers	1,116		9,098
Unfunded commitments for residential loans	554		2,950
Deferred tax liabilities	—		394
Other	2,651		1,323
Total	$	92,691	$	115,991