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OTHER ASSETS AND LIABILITIES
 6 Months Ended
Jun. 30, 2024
Other Income Assets And Liabilities [Abstract]  
OTHER ASSETS AND LIABILITIES OTHER ASSETS AND LIABILITIES
 
Other Assets and Accrued Expenses and Other Liabilities consist of the following:
Other AssetsAccrued Expenses
and Other Liabilities
June 30, 2024December 31, 2023 (As Restated)June 30, 2024December 31, 2023 (As Restated)
CLOs, at fair value(A)
261,492 226,486Accounts payable$201,544 $165,144 
Deferred tax asset283,071 279,019Accrued compensation and benefits159,470 290,464 
Derivative and hedging assets (Note 17)
54,357 28,080Deferred tax liability950,986 801,857 
Due from related parties38,346 32,319
Derivative liabilities (Note 17)
35,100 51,765 
Equity investments(B)
244,222 173,882Escheat payable197,816 169,914 
Excess MSRs, at fair value (Note 13)
395,606 271,150Excess spread financing116,142 — 
Goodwill (Note 15)(C)
131,857 131,857Interest payable186,695 166,620 
Income and fees receivable55,378 59,134
Lease liability (Note 16)
175,106 159,236 
Intangible assets (Note 15)
364,942 387,920
Notes Receivable Financing(G)
352,683 — 
Loans receivable, at fair value(D)
29,114 31,323Unearned income and fees30,284 37,468 
Margin receivable, net(E)
205,207 75,947Other liabilities238,902 223,293 
Non-Agency RMBS, at fair value(A)
548,047 577,543$2,644,728 $2,065,761 
Notes receivable, at fair value(F)
364,977 398,227
Operating lease right-of-use assets (Note 16)
104,983 104,207
Other receivables159,726 152,046
Prepaid expenses68,724 62,513
Principal and interest receivable154,945 168,516
Property and equipment37,428 40,038
REO27,163 15,507
Servicer advance investments, at fair value (Note 14)
357,220 376,881
Servicing fee receivables162,888 156,777
Warrants, at fair value11,564 16,599
Other assets189,929 182,881
$4,251,186 $3,948,852 
(A)Non-Agency RMBS and CLOs were reclassified from Real estate and other securities, as presented in prior periods, to Other assets on the Consolidated Balance Sheets as of June 30, 2024.
(B)Represents equity investments in (i) commercial redevelopment projects and (ii) operating companies providing services throughout the real estate industry, including investments in Covius Holding Inc., a provider of various technology-enabled services to the mortgage and real estate sectors, preferred stock of Valon, a residential mortgage servicing and technology company, and preferred stock of Covalto Ltd. (formerly known as Credijusto Ltd.), a financial services company and (iii) funds managed by Sculptor.
(C)Includes goodwill derived from the acquisition of Newrez, Guardian, Genesis and Sculptor.
(D)Represents loans made pursuant to a senior credit agreement and a senior subordinated credit agreement to an entity affiliated with funds managed by an affiliate of the Former Manager. The loans are accounted for under the fair value option.
(E)Represents collateral posted as a result of changes in fair value of Rithm Capital’s (i) government and government-backed securities securing its secured financing agreements and (ii) derivative instruments.
(F)Represents notes receivable secured by commercial properties. The notes are accounted for under the fair value option.
(G)During the second quarter of 2024, the Company transferred an investment in a note receivable with a fair value of $365.0 million subject to a repo financing of $323.5 million from a third party, to a nonconsolidated joint venture for cash consideration of $36.8 million. The transaction did not meet sale accounting under ASC 860 and, as a result, was treated as a secured borrowing for accounting purposes for which the Company elected the fair value option and is included in Other liabilities in our Consolidated Balance Sheets. The amount presented within Notes receivable financing is comprised of the repo financing and the non-recourse liability in a secured borrowing. The Company continues to reflect the transferred note in Other Assets in our Consolidated Balance Sheets, at fair value.

REO — REO assets are individual properties acquired by Rithm Capital or where Rithm Capital receives the property as a result of foreclosure of the underlying loan. Rithm Capital measures REO assets at the lower of cost or fair value, with valuation provision recorded in Other income in the Consolidated Statements of Operations. REO assets are managed for prompt sale and disposition.
The following table presents activity for the period related to the carrying value of investments in REO:
Balance at December 31, 2023$15,507 
Purchases10,541 
Property received in satisfaction of loan17,934 
Sales(A)
(15,454)
Valuation (provision) reversal (1,365)
Balance at June 30, 2024$27,163 
(A)Recognized when control of the property has transferred to the buyer.

As of June 30, 2024, Rithm Capital had residential mortgage loans and mortgage loans receivable that were in the process of foreclosure with UPBs of $58.8 million and $33.6 million, respectively.

Notes and Loans Receivable — The following table summarizes the activity for the period for notes and loans receivable:
Notes ReceivableLoans ReceivableTotal
Balance at December 31, 2023
$398,227 $31,323 $429,550 
Fundings— — — 
Payment in Kind— 2,211 2,211 
Proceeds from repayments(33,250)(4,420)(37,670)
Balance at June 30, 2024
$364,977 $29,114 $394,091 

The following table summarizes the past due status and difference between the aggregate UPB and the aggregate carrying value of notes and loans receivable:
June 30, 2024December 31, 2023
Days Past DueUPB
Carrying
Value(A)
Carrying Value Over (Under) UPBUPB
Carrying
Value(A)
Carrying Value Over (Under) UPB
Current$493,354 $394,091 $(99,263)$565,786 $429,550 $(136,236)
90+— — $— — — $— 
(A)Notes and loans receivable are carried at fair value. See Note 19 regarding fair value measurements.