Company: ADAMM
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001273685-25-000047
Chunk: 15

Company: ADAMAS TRUST, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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 90 days or more delinquent as of March 31, 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 $44.0 million  as of March 31, 2025.

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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 March 31, 2025 and December 31, 2024, respectively (dollar amounts in thousands): March 31, 2025December 31, 2024Amortized CostUnrealizedFair ValueAmortized CostUnrealizedFair Value GainsLossesGainsLossesAgency RMBSFixed rateFannie Mae$2,252,190 $24,074 $(2,451)$2,273,813 $1,483,619 $7,819 $(7,991)$1,483,447 Freddie Mac2,072,966 17,304 (3,629)2,086,641 1,465,419 3,914 (13,720)1,455,613 Total Fixed rate4,325,156 41,378 (6,080)4,360,454 2,949,038 11,733 (21,711)2,939,060 Adjustable rateFannie Mae94,785 1,776 — 96,561 97,267 265 (631)96,901 Freddie Mac31,423 470 — 31,893 32,852 20 (191)32,681 Total Adjustable rate126,208 2,246 — 128,454 130,119 285 (822)129,582 Interest-onlyGinnie Mae76,246 2,484 (13,154)65,576 78,627 843 (16,092)63,378 Freddie Mac5,006 — (770)4,236 5,251 — (459)