Company: ADAMM
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001273685-25-000047
Chunk: 61

Company: ADAMAS TRUST, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 61
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 trusts (1)$2,779,673Discounted cash flowLifetime CPR8.6%—-49.8%Lifetime CDR0.6%—-30.2%Loss severity11.6%—-96.8%Yield7.4%5.0%-32.9%$174,345Liquidation modelAnnual home price appreciation/(depreciation)0.5%—-9.7%Liquidation timeline (months)181-54Property value$2,106,041$6,000-$12,750,000Yield7.6%7.5%-26.8%Consolidated SLST (4)$959,250Liability priceN/ATotal$3,913,268Multi-family loans (1) (2)$87,222Discounted cash flowDiscount rate12.5%11.0%-14.0%Months to assumed redemption24< 1-48Loss severity—Equity investments (1) (3)$53,251Discounted cash flowDiscount rate16.0%15.0%-17.5%Months to assumed redemption183-47Loss severity—$1,111Direct CapitalizationCapitalization Rate6.0%6.0%-6.0%Mortgage servicing rights (1)$20,297Discounted cash flowLifetime voluntary prepayment rate10.5%1.0%-26.6%Lifetime CDR2.2%—-41.1%Yield12.6%12.0%-14.0%LiabilitiesConsolidated SLST CDOs (4) (5)$805,273Discounted cash flowYield5.5%4.5%-12.8%Collateral prepayment rate6.2%2.7%-7.2%Collateral default rate1.3%—-7.4%Loss severity20.3%10.0%-78.2%(1)Weighted average amounts are calculated based on the weighted average fair value of the assets.

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(2)As of March 31, 2025, the Company has reduced the fair value of one multi-family loan to zero as a result of developments with respect to the property, its financing and market conditions. Unobservable inputs do not include inputs related to this multi-family loan. As of March 31, 2025, the Company had one multi-family loan mature on April 1, 2025, which was repaid in full