Company: ADAMM
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001273685-25-000047
Chunk: 17

Company: ADAMAS TRUST, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 17
---
4.The Company recognized write-downs of non-Agency RMBS for a loss of $0.4 million for the three months ended March 31, 2024.Weighted Average LifeActual maturities of our investment securities available for sale are generally shorter than stated contractual maturities (with contractual maturities up to 39 years), as they are affected by periodic payments and prepayments of principal on the underlying mortgages. As of March 31, 2025 and December 31, 2024, based on management’s estimates, the weighted average life of the Company’s investment securities available for sale portfolio was approximately 6.1 years and 7.4 years, respectively.The following table sets forth the weighted average lives of our investment securities available for sale as of March 31, 2025 and December 31, 2024, respectively (dollar amounts in thousands):Weighted Average LifeMarch 31, 2025December 31, 20240 to 5 years$1,364,616 $604,459 Over 5 to 10 years3,278,361 2,923,871 10+ years3,835 300,214 Total$4,646,812 $3,828,544 

17

5.      Multi-family Loans, at Fair ValueThe Company's multi-family loans consisting of its preferred equity in, and mezzanine loans to, entities that have multi-family real estate assets are presented at fair value on the Company's condensed consolidated balance sheets as a result of a fair value election. Accordingly, changes in fair value are presented in unrealized gains (losses), net on the Company's condensed consolidated statements of operations. Multi-family loans consist of the following as of March 31, 2025 and December 31, 2024, respectively (dollar amounts in thousands):March 31, 2025December 31, 2024Investment amount$91,096 $90,485 Unrealized losses, net(3,874)(4,293)   Total, at Fair Value$87,222 $86,192 For the three months ended March 31, 2025 and 2024, the Company recognized $0.4 million in net unrealized gains and $4.8 million in net unrealized losses on multi-family loans, respectively.  The table below presents the fair value and aggregate unpaid principal balance of the Company's multi-family loan in