Other Assets and Other Liabilities (Tables)

9 Months Ended

Sep. 30, 2026

The following table presents the components of the Company's other assets as of September 30, 2026 and December 31, 2025, respectively (dollar amounts in thousands):


	September 30, 2026		December 31, 2025
Restricted cash (1)	$	128,573	$	132,045
Accrued interest receivable	84,409		76,152
Receivables from derivative counterparties	53,332		16,203
Real estate owned	35,519		40,207
Collections receivable from residential loan servicers	33,489		44,926
Deferred tax assets	26,253		14,441
Mortgage servicing rights	18,970		20,893
Other receivables	16,709		22,338
Intangible assets	15,836		17,318
Recoverable advances on residential loans	14,354		15,404
Other assets in consolidated multi-family properties	11,436		15,777
Derivative assets (2)	11,393		722
Operating lease right-of-use assets	3,883		5,175
Other	7,810		7,171
Total	$	461,966	$	428,772

(1)Restricted cash represents cash held by third parties including 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 September 30, 2026 and December 31, 2025, respectively (dollar amounts in thousands):


	September 30, 2026		December 31, 2025
Accrued interest payable	$	58,008	$	59,114
Dividends and dividend equivalents payable	43,521		35,332
Margin payable to derivative counterparties	41,240		24,271
Accrued expenses	25,153		23,554
Deferred tax liabilities	24,547		12,761
Derivative liabilities	14,039		—
Deferred revenue	9,801		7,316
Accrued expenses and other liabilities in consolidated multi-family properties	8,235		9,655
Unfunded commitments for residential and multi-family investments	5,969		6,750
Operating lease liabilities	4,173		5,549
Advanced remittances from residential loan servicers	2,666		13,228
Holdback for representations and warranties	1,038		2,500
Other	6,205		5,593
Total	$	244,595	$	205,623