Company: ADAMM
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001273685-25-000047
Chunk: 312

Company: ADAMAS TRUST, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 8
Chunk 312
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standingRepurchase Agreements (1)Net Deferred Finance Costs (2)Carrying Value of Repurchase AgreementsCarrying Value of Assets Pledged (3)Weighted Average RateWeighted Average Months to Maturity (4)March 31, 2025$2,775,000 $357,483 $(389)$357,094 $495,999 6.63 %6.64December 31, 2024$2,775,000 $496,410 $(796)$495,614 $659,183 6.70 %9.64

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(1)Includes non-mark-to-market repurchase agreements with an aggregate outstanding balance of $13.1 million, a weighted average rate of 6.85%, and weighted average months to maturity of 6 months as of March 31, 2025. Includes non-mark-to-market repurchase agreements with an aggregate outstanding balance of $15.0 million, a weighted average rate of 7.09%, and weighted average months to maturity of 8 months as of December 31, 2024.(2)Costs related to the repurchase agreements, which include commitment, underwriting, legal, accounting and other fees, are reflected as deferred charges. Such costs are presented as a deduction from the corresponding debt liability on the Company’s accompanying condensed consolidated balance sheets and are amortized as an adjustment to interest expense over the term of the agreement using the effective interest method, or straight line-method, if the result is not materially different.(3)Includes residential loans and real estate owned with an aggregate carrying value of $363.3 million and single-family rental properties with a net carrying value of $132.7 million as of March 31, 2025. Includes residential loans and real estate owned with an aggregate carrying value of $524.6 million and single-family rental properties with a net carrying value of $134.6 million as of December 31, 2024.(4)The Company expects to roll outstanding amounts under these repurchase agreements into new repurchase agreements or other financings, or to repay outstanding amounts, prior to or at maturity.During the terms of the repurchase agreements, proceeds from the residential loans, real estate owned and single-family rental properties will be applied to pay any price differential and to reduce the aggregate repurchase price of the collateral. The outstanding financings under the repurchase agreements with five of the counterparties with an aggregate outstanding