Other Assets and Other Liabilities

12 Months Ended

Dec. 31, 2023

11. Other Assets and Other Liabilities

Other Assets

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


	December 31, 2023		December 31, 2022
Restricted cash (1)	$	143,535	$	136,220
Accrued interest receivable	37,312		34,067
Real estate owned	34,353		18,588
Other assets in consolidated multi-family properties	28,923		13,681
Recoverable advances on residential loans	18,328		13,979
Collections receivable from residential loan servicers	14,956		15,374
Other receivables	12,593		11,357
Operating lease right-of-use assets	6,581		7,831
Derivative assets (2)	6,510		2,473
Deferred tax assets	4,510		2,671
Lease intangibles, net in consolidated multi-family properties	2,378		—
Other	5,378		3,115
Total	$	315,357	$	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 assets held in consolidated multi-family properties.

Other Liabilities

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


	December 31, 2023		December 31, 2022
Dividends and dividend equivalents payable	$	32,151	$	49,996
Accrued interest payable	23,653		10,629
Accrued expenses and other liabilities in consolidated multi-family properties	21,797		10,511
Accrued expenses	11,515		15,576
Operating lease liabilities	7,102		8,383
Unfunded commitments for residential and multi-family investments	6,587		2,950
Deferred revenue	5,469		7,131
Advanced remittances from residential loan servicers	4,332		9,098
Deferred tax liabilities	2,012		394


Other	3,398		1,323
Total	$	118,016	$	115,991