Company: ADAMM
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001273685-25-000028
Chunk: 140

Company: ADAMAS TRUST, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 16
Chunk 140
---
izations (see Note 7 for further discussion of the Company's residential loan securitizations). Year Ended December 31, 2022Residential loans Residential loansConsolidated SLSTResidential loans held in securitization trustsMulti-family loansEquity investmentsEquity investments in disposal group held for saleTotalBalance at beginning of period$1,703,290 $1,070,882 $801,429 $120,021 $239,631 $— $3,935,253 Total (losses)/gains (realized/unrealized)Included in earnings(111,879)(128,236)(162,518)9,531 18,884 (926)(375,144)Transfers out (1)(17,052)— (1,806)— — — (18,858)Transfer to securitization trust, net (2)(1,422,577)— 1,422,577 — — — — Transfer to disposal group held for sale— — — — (9,936)9,936 — Funding/Contributions— — — — 28,086 — 28,086 Paydowns/Distributions(712,214)(115,064)(535,017)(42,018)(96,919)— (1,501,232)Acquisitions1,641,816 — 91,449 — — — 1,733,265 Balance at the end of period$1,081,384 $827,582 $1,616,114 $87,534 $179,746 $9,010 $3,801,370 (1)Transfers out of Level 3 assets represents the transfer of residential loans to real estate owned.(2)During the year ended December 31, 2022, the Company transferred certain residential loans into residential loan securitizations (see Note 7 for further discussion of the Company's residential loan securitizations).

F-71

The following table details changes in valuation for the Level 3 liabilities for the years ended December 31, 2024, 2023 and 2022, respectively (dollar amounts in thousands):Level 3 Liabilities:Consolidated SLST CDOsYears Ended December 31,202420232022Balance at beginning