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Other Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2020

The following table details the components of our other assets ($ in thousands):


	December 31, 2020			December 31, 2019
Debt securities held-to-maturity (1)	$	77,445		$	86,638
CECL reserve		(1,723	)		—

Debt securities held-to-maturity, net		75,722			86,638
Loan portfolio payments held by servicer (2)		73,224			49,584
Accrued interest receivable		66,757			66,649
Collateral deposited under derivative agreements		51,050			30,800
Prepaid expenses		973			739
Derivative assets		522			1,079
Prepaid taxes		376			376
Other		1,195			1,115

Total	$	269,819		$	236,980

(1)

Represents the subordinate position we own in the 2018 Single Asset Securitization, which held aggregate loan assets of $735.5 million and $930.0 million as of December 31, 2020 and December 31, 2019, respectively, with a yield to full maturity of L+10.0% and a maximum maturity date of June 9, 2025, assuming all extension options are exercised by the borrower. Refer to Note 16 for additional discussion.

(2)

Represents loan principal and interest payments held by our third-party loan servicer as of the balance sheet date which were remitted to us during the subsequent remittance cycle.

Schedule Of Current Expected Credit Loss Reserve By Pool

The following table presents the activity in our loans receivable CECL reserve by investment pool for the year ended December 31, 2020 ($ in thousands):


	U.S. Loans		Non-U.S. Loans		Unique Loans		Impaired Loans		Total
Loans Receivable, Net
CECL reserve as of December 31, 2019	$	—	$	—	$	—	$	—	$	—
Initial CECL reserve on January 1, 2020		8,955		3,631		1,356		—		13,942
Increase in CECL reserve		34,040		24,103		31,803		69,661		159,607

CECL reserve as of December 31, 2020	$	42,995	$	27,734	$	33,159	$	69,661	$	173,549

Summary of Components of Other Liabilities

The following table details the components of our other liabilities ($ in thousands):


	December 31, 2020		December 31, 2019
Accrued dividends payable	$	91,004	$	83,702
Derivative liabilities		58,915		42,263
Accrued interest payable		20,548		24,831
Accrued management and incentive fees payable		19,158		20,159
Current expected credit loss reserve for unfunded loan commitments (1)		10,031		—
Accounts payable and other liabilities		2,671		5,008

Total	$	202,327	$	175,963

(1)

Represents the CECL reserve related to our unfunded loan commitments. See Note 2 for further discussion of the CECL reserve.

Schedule of Unfunded Loan Commitments Reserve

The following table presents the activity in the CECL reserve related to our unfunded loan commitments by investment pool for the year ended December 31, 2020 ($ in thousands):


	U.S. Loans		Non-U.S. Loans		Unique Loans		Impaired Loans		Total
Unfunded Loan Commitments
CECL reserve as of December 31, 2019	$	—	$	—	$	—	$	—	$	—
Initial CECL reserve on January 1, 2020		2,801		453		9		—		3,263
Increase in CECL reserve		4,152		2,541		75		—		6,768

CECL reserve as of December 31, 2020	$	6,953	$	2,994	$	84	$	—	$	10,031

Held To Maturity Debt Securities [Member]

Schedule Of Current Expected Credit Loss Reserve By Pool

The following table presents the activity in our debt securities CECL reserve by investment pool for the year ended December 31, 2020 ($ in thousands):


	U.S. Loans		Non-U.S. Loans		Unique Loans		Impaired Loans		Total
Debt Securities Held-To-Maturity
CECL reserve as of December 31, 2019	$	—	$	—	$	—	$	—	$	—
Initial CECL reserve on January 1, 2020		445		—		—		—		445
Increase in CECL reserve		1,278		—		—		—		1,278

CECL reserve as of December 31, 2020	$	1,723	$	—	$	—	$	—	$	1,723