Company: ADAMM
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001273685-25-000028
Chunk: 141

Company: ADAMAS TRUST, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 16
Chunk 141
---
 of period$593,737 $634,495 $839,419 Total losses/(gains) (realized/unrealized)Included in earnings3,784 5,718 (90,077)Acquisitions (1)275,200 — — Paydowns(61,130)(46,476)(114,847)Balance at the end of period$811,591 $593,737 $634,495 (1)During the year ended December 31, 2024, the Company purchased a first loss subordinated security issued from a securitization that it determined to consolidate as Consolidated SLST. As a result, the Company consolidated liabilities of the securitization (see Note 7).

F-72

The following table discloses quantitative information regarding the significant unobservable inputs used in the valuation of our Level 3 assets and liabilities measured at fair value (dollar amounts in thousands, except input values):December 31, 2024Fair ValueValuation Technique Unobservable InputWeighted Average RangeAssetsResidential loans:Residential loans and residential loans held in securitization trusts (1)$2,698,518Discounted cash flowLifetime CPR7.0%—-44.0%Lifetime CDR0.6%—-24.0%Loss severity10.8%—-100.0%Yield7.7%5.9%-41.4%$177,548Liquidation modelAnnual home price appreciation/(depreciation)0.4%—-9.2%Liquidation timeline (months)171-54Property value$2,277,934$13,000-$14,200,000Yield7.6%7.5%-26.8%Consolidated SLST (4)$965,672Liability priceN/ATotal$3,841,738Multi-family loans (1) (2)$86,192Discounted cash flowDiscount rate12.5%11.0%-14.0%Months to assumed redemption292-50Loss severity—Equity investments (1) (3)$74,774Discounted cash flowDiscount rate15.3%13.8%-17.5%Months to assumed redemption153-48Loss severity—Mortgage servicing rights (1)$21,003Discounted cash flowLifetime voluntary prepayment rate10.4%1.0%-26.7%Lifetime CDR2.2%