v3.24.2
Other Assets and Liabilities
 6 Months Ended
Jun. 30, 2024
Other Assets And Liabilities Disclosure [Abstract]  
Other Assets and Liabilities OTHER ASSETS AND LIABILITIES
Other Assets
The following table details the components of our other assets ($ in thousands):
 June 30, 2024December 31, 2023
Accrued interest receivable$196,814 $214,835 
Collateral deposited under derivative agreements15,904 103,500 
Accounts receivable and other assets7,549 2,420 
Derivative assets4,878 1,890 
Prepaid expenses650 1,020 
Loan portfolio payments held by servicer(1)
— 152,423 
Total$225,795 $476,088 
(1)Primarily represents loan principal held by our third-party loan servicer as of the balance sheet date which were remitted to us during the subsequent remittance cycle.
Other Liabilities
The following table details the components of our other liabilities ($ in thousands):
 June 30, 2024December 31, 2023
Accrued dividends payable$107,644 $107,390 
Accrued interest payable90,223 97,820 
Derivative liabilities24,395 94,817 
Accrued management and incentive fees payable18,726 26,342 
Current expected credit loss reserves for unfunded loan commitments(1)
9,946 15,371 
Accounts payable and other liabilities6,365 7,265 
Secured debt repayments pending servicer remittance(2)
— 13,526 
Total$257,299 $362,531 
(1)Represents the CECL reserve related to our unfunded loan commitments. See Note 2 for further discussion of the CECL reserves.
(2)Represents pending transfers from our third-party loan servicer that were remitted to our banking counterparties during the subsequent remittance cycle.
Current Expected Credit Loss Reserves for Unfunded Loan Commitments
As of June 30, 2024, we had aggregate unfunded commitments of $1.8 billion related to 89 loans receivable. The expected credit losses over the contractual period of our loans is impacted by our obligation to extend further credit through our unfunded loan commitments. See Note 2 for further discussion of the CECL reserves related to our unfunded loan commitments, and Note 21 for further discussion of our unfunded loan commitments. During the three and six months ended June 30, 2024, we recorded decreases in the CECL reserves related to our unfunded loan commitments of $2.7 million and $5.4 million, respectively, bringing our total unfunded loan commitments CECL reserve to $9.9 million as of June 30, 2024. During the three months ended June 30, 2023, we recorded an increase in the CECL reserves related to our unfunded loan commitments of $523,000, and for the six months ended June 30, 2023, we recorded a decrease in the CECL reserves related to our unfunded loan commitments of $108,000, bringing our total unfunded loan commitments CECL reserve to $16.3 million as of June 30, 2023.