Other assets and other liabilities (Tables)

12 Months Ended

Dec. 31, 2023

Other assets and other liabilities

Schedule of other assets and other liabilities

(in thousands)	December 31, 2023		December 31, 2022
Other assets:
Goodwill	$	38,530	$	37,818
Deferred loan exit fees		32,271		36,669
Accrued interest		64,504		34,578
Due from servicers		20,780		9,724
Intangible assets		17,749		15,451
Receivable from third party(1)		36,519		15,206
Deferred financing costs		9,544		5,176
Deferred tax asset		—		977
Right-of-use lease asset		2,539		1,687
Investments held to maturity		3,446		3,306
Purchased future receivables, net		9,483		8,246
Other		30,213		14,695
Other assets	$	265,578	$	183,533
Accounts payable and other accrued liabilities:
Accrued salaries, wages and commissions		33,961		31,110
Accrued interest payable		35,373		34,785
Servicing principal and interest payable		6,249		13,163
Deferred tax liability		32,977		30,885
Repair and denial reserve		6,974		10,846
Payable to related parties		7,038		7,815
Accrued PPP related costs		146		4,016
Accrued professional fees(1)		5,354		2,804
Lease payable		8,205		1,778
Other		35,168		16,412
Total accounts payable and other accrued liabilities	$	171,445	$	153,614

(1) Includes $2.0 million as of December 31, 2023, due from insurance in connection with the settlement of claims associated with Anworth.

Schedule of Goodwill

(in thousands)	December 31, 2023		December 31, 2022
LMM Commercial Real Estate	$	27,324	$	26,612
Small Business Lending		11,206		11,206
Total	$	38,530	$	37,818

Schedule of Intangible assets

(in thousands)	December 31, 2023		December 31, 2022		Estimated Useful Life
Internally developed software to be sold, leased, or marketed	$	6,795	$	3,092	5 years
Customer Relationships - Red Stone		5,935		6,293	19 years
Trade name - Red Stone		2,500		2,500	Indefinite life
Internally developed software - Knight Capital		1,161		1,794	6 years
SBA license		1,000		1,000	Indefinite life
Trade name - Knight Capital		269		416	6 years
Broker network - Knight Capital		89		356	4.5 years
Total intangible assets	$	17,749	$	15,451

Schedule of accumulated amortization for finite-lived intangible assets

(in thousands)	December 31, 2023
Internally developed software - Knight Capital	$	2,639
Internally developed software to be sold, leased, or marketed		1,245
Broker network - Knight Capital		1,111
Customer Relationship - Red Stone		865
Trade name - Knight Capital		611
Total accumulated amortization	$	6,471

Amortization expense related to the intangible assets

(in thousands)	December 31, 2023
2024	$	2,836
2025		2,616
2026		1,966
2027		1,846
2028		839
Thereafter		4,146
Total	$	14,249