Other Assets and Other Liabilities

9 Months Ended

Sep. 30, 2023

11. Other Assets and Other Liabilities

Other Assets

The following table presents the components of the Company's other assets as of September 30, 2023 and December 31, 2022, respectively (dollar amounts in thousands):


	September 30, 2023		December 31, 2022
Restricted cash (1)	$	127,097	$	136,220
Accrued interest receivable	34,108		34,067
Other assets in consolidated multi-family properties	16,965		13,681
Recoverable advances on residential loans	16,666		13,979
Other receivables	11,638		11,357
Real estate owned	11,502		18,588
Collections receivable from residential loan servicers	9,882		15,374
Operating lease right-of-use assets	6,900		7,831
Deferred tax assets	3,350		2,671
Derivative assets (2)	2,031		2,473
Other	5,031		3,115
Total	$	245,170	$	259,356

(1)Restricted cash represents cash held by third parties, initial margin for interest rate swap contracts, cash held by the Company's securitization trusts and restricted cash held by 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 September 30, 2023 and December 31, 2022, respectively (dollar amounts in thousands):


	September 30, 2023		December 31, 2022
Dividends and dividend equivalents payable	$	40,568	$	49,996
Accrued interest payable	19,434		10,629
Accrued expenses and other liabilities in consolidated multi-family properties	12,373		10,511
Accrued expenses	10,654		15,576
Operating lease liabilities	7,430		8,383
Deferred revenue	5,342		7,131
Securities purchased but not settled	4,916		—
Unfunded commitments for residential loans	4,249		2,950
Advanced remittances from residential loan servicers	4,077		9,098
Swap margin payable	2,980		—
Deferred tax liabilities	761		394
Other	3,842		1,323
Total	$	116,626	$	115,991