Other Assets and Other Liabilities

12 Months Ended

Dec. 31, 2024

12. Other Assets and Other Liabilities

Other Assets

The following table presents the components of the Company's other assets as of December 31, 2024 and 2023, respectively (dollar amounts in thousands):


	December 31, 2024		December 31, 2023
Restricted cash (1)	$	161,602	$	143,535
Accrued interest receivable	62,075		37,312
Collections receivable from residential loan servicers	50,294		14,956
Real estate owned	47,651		34,353
Other receivables	27,776		11,445
Mortgage servicing rights	21,003		—
Recoverable advances on residential loans	17,391		18,328
Other assets in consolidated multi-family properties	16,640		28,923
Receivables from derivative counterparties	11,059		1,148
Deferred tax assets	10,864		4,510
Operating lease right-of-use assets	5,460		6,581
Derivative assets (2)	56		6,510
Lease intangibles, net in consolidated multi-family properties	—		2,378
Other	6,003		5,378
Total	$	437,874	$	315,357

(1)Restricted cash represents cash held by third parties, initial margin for derivative contracts and cash held by the Company's securitization trusts.

(2)Includes derivative assets held in Consolidated Real Estate VIEs.

Other Liabilities

The following table presents the components of the Company's other liabilities as of December 31, 2024 and 2023, respectively (dollar amounts in thousands):


	December 31, 2024		December 31, 2023
Accrued interest payable	$	41,015	$	23,653
Dividends and dividend equivalents payable	30,280		32,151
Unfunded commitments for residential and multi-family investments	14,001		6,587
Accrued expenses	11,141		11,515
Accrued expenses and other liabilities in consolidated multi-family properties	10,621		21,797
Deferred tax liabilities	9,282		2,012
Swap margin payable	8,137		—
Advanced remittances from residential loan servicers	7,029		4,332
Operating lease liabilities	5,935		7,102
Deferred revenue	5,817		5,469

Other	4,354		3,398
Total	$	147,612	$	118,016