Company: ADAMM
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001273685-25-000072
Chunk: 396

Company: ADAMAS TRUST, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 8
Chunk 396
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9 million. (5)Weighted average yield calculated based on the weighted average fair value of the CDOs issued by Consolidated SLST, including investment securities we own. Weighted average collateral prepayment rate, weighted average collateral default rate, and weighted average loss severity are calculated based on the weighted average unpaid balance of the CDOs issued by Consolidated SLST, including investment securities we own. The following table details the changes in unrealized gains (losses) included in earnings for the three and six months ended June 30, 2025 and 2024, respectively, for our Level 3 assets and liabilities held as of June 30, 2025 and 2024, respectively (dollar amounts in thousands): For the Three Months Ended June 30,For the Six Months Ended June 30, 2025202420252024AssetsResidential loans:Residential loans (1)$904 $(1,912)$7,605 $(10,592)Consolidated SLST (1)16,810 (1,306)29,705 (800)Residential loans held in securitization trusts (1)8,503 (6,359)33,297 (7,156)Multi-family loans (1)56 (16)360 (4,794)Equity investments (2)(2,740)(419)(3,876)(6,581)Equity investments in disposal group held for sale (2)(611)— (838)— Mortgage servicing rights (1)(848)— (1,554)— LiabilitiesConsolidated SLST CDOs (1)(11,289)1,848 (20,920)1,306 (1)Presented in unrealized gains (losses), net on the Company's condensed consolidated statements of operations.(2)Presented in (loss) income from equity investments on the Company's condensed consolidated statements of operations.

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The following table presents the carrying value and estimated fair value of the Company’s financial instruments at June 30, 2025 and December 31, 2024, respectively (dollar amounts in thousands):  June 30, 2025December 31, 2024 Fair ValueHierarchy LevelCarryingValueEstimatedFair ValueCarryingValueEstimatedFair ValueFinancial Assets:     Cash and cash equivalentsLevel 1$160,447 $160,447 $167,422