Company: ADAMM
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001273685-25-000072
Chunk: 21

Company: ADAMAS TRUST, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 21
---
 days past dueFair ValueUnpaid Principal BalanceFair ValueUnpaid Principal BalanceJune 30, 2025$150,481 $172,026 $7,158 $7,512 December 31, 2024159,558 183,067 8,098 8,749 Formal foreclosure proceedings were in process with respect to residential loans with an aggregate fair value of $118.9 million and an aggregate unpaid principal balance of $138.2 million as of June 30, 2025.Residential loans held in Consolidated SLST with an aggregate unpaid principal balance of $129.4 million and $117.1 million were 90 days or more delinquent as of June 30, 2025 and December 31, 2024, respectively. In addition, formal foreclosure proceedings were in process with respect to residential loans held in Consolidated SLST with an aggregate unpaid principal balance of $43.8 million  as of June 30, 2025.

18

4.      Investment Securities Available For Sale, at Fair ValueThe Company accounts for its investment securities available for sale using the fair value election pursuant to ASC 825, Financial Instruments, where changes in fair value are recorded in unrealized gains (losses), net on the Company's condensed consolidated statements of operations. The Company's investment securities available for sale consisted of the following as of June 30, 2025 and December 31, 2024, respectively (dollar amounts in thousands): June 30, 2025December 31, 2024Amortized CostUnrealizedFair ValueAmortized CostUnrealizedFair Value GainsLossesGainsLossesAgency RMBSFixed rateFannie Mae$2,574,338 $30,980 $(2,302)$2,603,016 $1,483,619 $7,819 $(7,991)$1,483,447 Freddie Mac2,102,848 19,671 (3,033)2,119,486 1,465,419 3,914 (13,720)1,455,613 Total Fixed rate4,677,186 50,651 (5,335)4,722,502 2,949,038 11,733 (21,711)2,939,060 Adjustable rateFannie Mae92,031 1,759 —