Other Assets and Other Liabilities (Tables)

3 Months Ended

Mar. 31, 2026

The following table presents the components of the Company's other assets as of March 31, 2026 and December 31, 2025, respectively (dollar amounts in thousands):


	March 31, 2026		December 31, 2025
Restricted cash (1)	$	156,479	$	132,045
Accrued interest receivable	77,235		76,152
Collections receivable from residential loan servicers	42,766		44,926
Real estate owned	38,255		40,207
Other receivables	20,909		22,338
Mortgage servicing rights	19,965		20,893
Intangible assets	16,754		17,318
Recoverable advances on residential loans	13,783		15,404
Deferred tax assets	13,138		14,441
Other assets in consolidated multi-family properties	11,108		15,777
Receivables from derivative counterparties	9,751		16,203
Operating lease right-of-use assets	4,753		5,175
Derivative assets (2)	1,839		722
Other	7,124		7,171
Total	$	433,859	$	428,772

(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.

Schedule of Other Liabilities

The following table presents the components of the Company's other liabilities as of March 31, 2026 and December 31, 2025, respectively (dollar amounts in thousands):


	March 31, 2026		December 31, 2025
Accrued interest payable	$	53,440	$	59,114
Dividends and dividend equivalents payable	35,165		35,332
Margin payable to derivative counterparties	20,591		24,271
Accrued expenses	15,668		23,554
Deferred tax liabilities	11,463		12,761
Advanced remittances from residential loan servicers	10,378		13,228
Deferred revenue	7,723		7,316
Unfunded commitments for residential and multi-family investments	7,045		6,750
Operating lease liabilities	5,099		5,549
Securities purchased but not settled	5,024		—
Accrued expenses and other liabilities in consolidated multi-family properties	4,852		9,655
Holdback for representations and warranties	2,500		2,500
Derivative liabilities	1,523		—
Other	3,412		5,593
Total	$	183,883	$	205,623