Company: ADAMM
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001273685-25-000028
Chunk: 266

Company: ADAMAS TRUST, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 266
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 reconciliation of our actual interests in Consolidated SLST, see “Portfolio Update” above. For a reconciliation of our investments in Consolidated Real Estate VIEs, see “Equity Investments in Multi-Family Entities” below.

87

Residential Loans

The following table presents the Company’s residential loans, which include acquired residential loans held by the Company and residential loans held in Consolidated SLST, as of  December 31, 2024 and 2023, respectively (dollar amounts in thousands):

December 31, 2024December 31, 2023Acquired residential loans$2,876,066 $2,329,443 Consolidated SLST965,672 754,860 Total$3,841,738 $3,084,303 

Acquired Residential Loans

The Company’s acquired residential loans, including performing, re-performing, and non-performing residential loans and business purpose loans, are presented at fair value on our consolidated balance sheets. Subsequent changes in fair value are reported in current period earnings and presented in unrealized (losses) gains, net on the Company’s consolidated statements of operations.

The following table details our acquired residential loans by strategy at December 31, 2024 and 2023, respectively (dollar amounts in thousands):

December 31, 2024Number of LoansUnpaid PrincipalFair ValueWeighted Average FICOWeighted Average LTV (1)Weighted Average CouponRe-performing residential loan strategy3,484 $461,101 $435,674 63654%5.2%Performing residential loan strategy2,630 610,203 525,267 74058%4.2%Business purpose bridge loan strategy2,321 1,176,555 1,157,085 74265%10.5%Business purpose rental loan strategy3,418 769,843 758,040 74673%6.8%Total11,853 $3,017,702 $2,876,066 

December 31, 2023Number of LoansUnpaid PrincipalFair ValueWeighted Average FICOWeighted Average LTV (1)Weighted Average CouponRe-performing residential loan strategy4,687 $626,316 $601,239 63060%5.1%Performing residential loan strategy2,803 642,320 548,736 71762%4.0%Business purpose bridge loan