Company: ADAMM
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001273685-25-000028
Chunk: 52

Company: ADAMAS TRUST, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 16
Chunk 52
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, use, or disposition of the company’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

/s/ GRANT THORNTON LLP

Philadelphia, Pennsylvania 

February 21, 2025

F-4

Table of Contents

NEW YORK MORTGAGE TRUST, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(Dollar amounts in thousands, except share data)

December 31, 2024December 31, 2023ASSETSResidential loans, at fair value$3,841,738 $3,084,303 Investment securities available for sale, at fair value3,828,544 2,013,817 Multi-family loans, at fair value86,192 95,792 Equity investments, at fair value113,492 147,116 Cash and cash equivalents167,422 187,107 Real estate, net623,407 1,131,819 Assets of disposal group held for sale118,613 426,017 Other assets437,874 315,357 Total Assets (1)$9,217,282 $7,401,328 LIABILITIES AND EQUITYLiabilities:Repurchase agreements$4,012,225 $2,471,113 Collateralized debt obligations ($2,135,680 at fair value and $842,764 at amortized cost, net as of December 31, 2024 and $593,737 at fair value and $1,276,780 at amortized cost, net as of December 31, 2023)2,978,444 1,870,517 Senior unsecured notes ($60,310 at fair value and $98,886 at amortized cost, net as of December 31, 2024 and $98,111 at amortized cost, net as of December 31, 2023)159,196 98,111 Subordinated debentures45,000 45,000 Mortgages payable on real estate, net366,606 784,421 Liabilities of disposal group held for sale97,065