Company: ADAMM
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001273685-25-000028
Chunk: 272

Company: ADAMAS TRUST, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 272
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 by the Company or by Consolidated SLST. The Company had a net investment in Consolidated SLST and other residential loan securitizations of $149.8 million and $215.2 million, respectively, as of December 31, 2024. As of December 31, 2023, the Company had a net investment in Consolidated SLST and other residential loan securitizations of $158.4 million and $315.2 million, respectively.

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The following tables present a summary of Consolidated SLST CDOs and CDOs issued by the Company's residential loan securitizations as of December 31, 2024 and 2023, respectively (dollar amounts in thousands):

December 31, 2024Outstanding Face AmountCarrying ValueWeighted Average Interest Rate (1) (2)Stated Maturity (3)Consolidated SLST (4) (5)$867,004 $811,591 3.49 %2059 - 2064Residential loan securitizations at fair value (4)$1,281,896 $1,253,332 5.72 %2029 - 2069Residential loan securitizations at amortized cost, net$850,547 $842,764 4.35 %2027 - 2062

December 31, 2023Outstanding Face AmountCarrying ValueWeighted Average Interest Rate (1)Stated Maturity (3)Consolidated SLST (4)$652,933 $593,737 2.75 %2059Residential loan securitizations at amortized cost, net$1,292,015 $1,276,780 4.00 %2026 - 2062

(1)Weighted average interest rate is calculated using the outstanding face amount and stated interest rate of notes issued by the securitization and not owned by the Company.

(2)Certain of the Company's CDOs contain interest rate step-up features whereby the interest rate increases if the outstanding notes are not redeemed by expected redemption dates, as defined in the respective governing documents.  As of December 31, 2024, CDOs with an aggregate outstanding face amount of $1.5 billion contain an interest rate step-up feature whereby the interest rate increases by either 1.00%, 1.50%, 2.00%,