Company: ADAMM
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001273685-25-000088
Chunk: 435

Company: ADAMAS TRUST, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 8
Chunk 435
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 loans held for sale: (1)$2,807,775Discounted cash flowLifetime CPR9.6%—-47.0%Lifetime CDR0.6%—-33.7%Loss severity13.2%0.2%-100.0%Yield6.7%5.4%-45.9%$106,622Liquidation modelAnnual home price appreciation/(depreciation)0.2%(1.5)%-7.1%Liquidation timeline (months)16—-54Property value$2,020,758$30,000-$13,900,000Yield8.3%5.9%-35.6%$159,687Transaction priceNon-binding investor priceN/AConsolidated SLST (4)$1,182,599Liability priceN/ATotal$4,256,683Multi-family loans (1) (2)$68,647Discounted cash flowDiscount rate12.1%11.0%-13.5%Months to assumed redemption22<1-45Loss severity—Equity investments (1)$28,825Discounted cash flowDiscount rate16.2%15.0%-17.5%Months to assumed redemption165-29Loss severity—Mortgage servicing rights (1)$21,896Discounted cash flowLifetime voluntary prepayment rate10.3%0.3%-27.5%Lifetime CDR2.2%—-41.8%Yield12.2%12.0%-14.0%IRLCs (1)$2,383Internal valuation modelPull-through rate79.4%78.8%-81.7%LiabilitiesConsolidated SLST CDOs (3) (4)$1,016,952Discounted cash flowYield5.2%4.4%-12.3%Collateral prepayment rate6.1%2.7%-7.3%Collateral default rate1.1%—-18.4%Loss severity15.4%0.3%-25.7%

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(1)Weighted average amounts are calculated based on the weighted average fair value of the assets.(2)As of September 30, 2025, the Company has reduced the fair value of one multi-family loan to zero as a result of developments with respect to the property, its financing and market conditions. Unobservable inputs do not include inputs related to this multi-family loan. As of September 30