Company: ADAMM
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001273685-25-000088
Chunk: 265

Company: ADAMAS TRUST, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 2
Chunk 265
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 in the Company's investment portfolio, residential loans held in Consolidated SLST and originated residential loans held for sale as of September 30, 2025 and December 31, 2024, respectively (dollar amounts in thousands): 

September 30, 2025December 31, 2024Acquired and originated residential loans$2,969,048 $2,876,066 Consolidated SLST1,182,599 965,672 Originated residential loans held for sale105,036 — Total$4,256,683 $3,841,738 

Acquired and Originated Residential Loans

Acquired and originated residential loans held in the Company's investment portfolio includes business purpose loans and performing, re-performing, and non-performing residential loans and are presented at fair value on our condensed consolidated balance sheets. Subsequent changes in fair value are reported in current period earnings and presented in unrealized gains (losses), net on the Company’s condensed consolidated statements of operations.

The following tables detail our acquired and originated residential loans by strategy at September 30, 2025 and December 31, 2024, respectively (dollar amounts in thousands):

September 30, 2025Number of LoansUnpaid PrincipalFair ValueWeighted Average FICOWeighted Average LTV (1)Weighted Average CouponBusiness purpose rental loan strategy5,996 $1,201,784 $1,227,776 74770%7.07%Business purpose bridge loan strategy1,924 928,677 917,069 74165%10.42%Performing residential loan strategy2,405 551,781 492,192 74952%4.21%Re-performing residential loan strategy2,687 340,719 332,011 65946%5.16%Total13,012 $3,022,961 $2,969,048 

December 31, 2024Number of LoansUnpaid PrincipalFair ValueWeighted Average FICOWeighted Average LTV (1)Weighted Average CouponBusiness purpose rental loan strategy3,418 $769,843 $758,040 74673%6.82%Business purpose bridge loan strategy2,321 1,176,555 1,157,085 74265%10.50%Performing residential loan strategy2,630 610,203 525,267 74058%4.18