Company: ADAMM
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001273685-25-000088
Chunk: 56

Company: ADAMAS TRUST, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 56
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 September 30, 2025December 31, 2024Restricted cash (1)$112,430 $161,602 Accrued interest receivable72,887 62,075 Real estate owned42,669 47,651 Collections receivable from residential loan servicers34,082 50,294 Other receivables30,096 27,776 Mortgage servicing rights21,896 21,003 Intangible assets17,882 252 Other assets in consolidated multi-family properties16,101 16,640 Recoverable advances on residential loans14,589 17,391 Receivables from derivative counterparties11,500 11,059 Deferred tax assets9,373 10,864 Operating lease right-of-use assets4,571 5,460 Derivative assets (2)2,612 56 Other7,492 5,751   Total$398,180 $437,874 (1)Restricted cash represents cash held by third parties including initial margin for derivative contracts and cash held by the Company's securitization trusts. (2)Includes derivative assets held in Consolidated Real Estate VIEs.Other LiabilitiesThe following table presents the components of the Company's other liabilities as of September 30, 2025 and December 31, 2024, respectively (dollar amounts in thousands):September 30, 2025December 31, 2024Accrued interest payable$56,128 $41,015 Dividends and dividend equivalents payable35,891 30,280 Accrued expenses19,319 11,141 Margin payable to derivative counterparties13,322 8,137 Accrued expenses and other liabilities in consolidated multi-family properties10,563 10,621 Unfunded commitments for residential and multi-family investments8,729 14,001 Deferred tax liabilities7,802 9,282 Deferred revenue6,976 5,817 Operating lease liabilities4,972 5,935 Advanced remittances from residential loan servicers2,926 7,029 Holdback for representations and warranties2,500 — Derivative liabilities121 — Other4,614 4,354   Total$173,863 $147,612 

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13.      Repurchase Agreements and Warehouse FacilitiesThe following table presents the carrying value of the