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Other Assets and Other Liabilities
 6 Months Ended
Jun. 30, 2025
Offsetting [Abstract]  
Other Assets and Other Liabilities
12. Other Assets and Other Liabilities

Other Assets

The following table presents the components of the Company's other assets as of June 30, 2025 and December 31, 2024, respectively (dollar amounts in thousands):
June 30, 2025December 31, 2024
Restricted cash (1)
$106,671 $161,602 
Accrued interest receivable64,474 62,075 
Collections receivable from residential loan servicers49,157 50,294 
Real estate owned45,363 47,651 
Other receivables23,343 27,776 
Mortgage servicing rights19,449 21,003 
Recoverable advances on residential loans17,966 17,391 
Other assets in consolidated multi-family properties14,552 16,640 
Receivables from derivative counterparties11,119 11,059 
Operating lease right-of-use assets4,872 5,460 
Deferred tax assets3,846 10,864 
Derivative assets (2)
374 56 
Other6,471 6,003 
  Total$367,657 $437,874 

(1)Restricted cash represents cash held by third parties including 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 June 30, 2025 and December 31, 2024, respectively (dollar amounts in thousands):

June 30, 2025December 31, 2024
Accrued interest payable$43,747 $41,015 
Dividends and dividend equivalents payable32,452 30,280 
Margin payable to derivative counterparties14,459 8,137 
Unfunded commitments for residential and multi-family investments11,950 14,001 
Accrued expenses11,515 11,141 
Accrued expenses and other liabilities in consolidated multi-family properties8,877 10,621 
Deferred revenue6,717 5,817 
Advanced remittances from residential loan servicers5,898 7,029 
Operating lease liabilities5,299 5,935 
Deferred tax liabilities2,265 9,282 
Other2,827 4,354 
  Total$146,006 $147,612