Company: ADAMM
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001273685-25-000088
Chunk: 165

Company: ADAMAS TRUST, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 165
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 cost for the respective periods and excludes TBAs.

(3)TBAs are recorded as derivative instruments in the accompanying condensed consolidated financial statements. As of September 30, 2025, our TBAs had a net carrying value of $0.1 million reported in other liabilities on the accompanying condensed consolidated balance sheets. The net carrying value represents the difference between the implied fair value of the underlying security in the TBA contract and the price to be paid or received for the underlying security (or amortized cost).

The following tables summarize certain characteristics of our Agency RMBS portfolio, inclusive of TBAs, as of September 30, 2025 and December 31, 2024 (dollar amounts in thousands):

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September 30, 2025Weighted AverageCurrent Par ValueFair ValueCPR (1) (2)Loan Age (Months) (2)Agency RMBS and TBAs30-Year Fixed rate4.5%$50,630 $49,169 3.6 %26 5.0%1,432,880 1,423,030 4.4 %11 5.5%3,450,197 3,486,471 6.8 %15 6.0%1,127,767 1,154,854 9.5 %23 6.5%278,364 289,045 16.5 %29 TBAs 6.0%30,000 30,643 — — Total 30-Year Fixed rate6,369,838 6,433,212 7.1 %16 Adjustable rate120,821 122,988 10.3 %29 IO1,519,683 102,446 15.2 %20 Total Agency RMBS and TBAs$8,010,342 $6,658,646 7.3 %16 

December 31, 2024Weighted AverageCurrent Par ValueFair ValueCPR (1)Loan Age (Months)Agency RMBS30-Year Fixed rate4.5%$52,192 $49,201 0.5 %18 5.0%154,590 149,462 6.7 %19 5.5%1,178,435 1,165,078 10.3 %18 6.0%1,234,506