Company: ADAMM
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001273685-25-000047
Chunk: 120

Company: ADAMAS TRUST, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 120
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,143 63854%5.2%Performing residential loan strategy2,588 599,017 524,660 74059%4.2%Business purpose bridge loan strategy2,137 1,092,520 1,074,965 74165%10.5%Business purpose rental loan strategy4,309 916,584 920,250 74673%6.9%Total12,461 $3,059,773 $2,954,018 

December 31, 2024Number of LoansUnpaid PrincipalFair ValueWeighted Average FICOWeighted Average LTV (1)Weighted Average CouponRe-performing residential loan strategy3,484 $461,101 $435,674 63654%5.2%Performing residential loan strategy2,630 610,203 525,267 74058%4.2%Business purpose bridge loan strategy2,321 1,176,555 1,157,085 74265%10.5%Business purpose rental loan strategy3,418 769,843 758,040 74673%6.8%Total11,853 $3,017,702 $2,876,066 

(1)For second mortgages (included in performing residential loan strategy), the Company calculates the combined loan-to-value ("LTV"). For business purpose bridge loans, the Company calculates LTV as the ratio of the maximum unpaid principal balance of the loan, including unfunded commitments, to the estimated “after repaired” value of the collateral securing the related loan.

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Characteristics of Our Acquired Residential Loans:

Loan to Value at Purchase (1)March 31, 2025December 31, 202450% or less9.0 %9.0 %>50% - 60%9.7 %9.7 %>60% - 70%21.5 %21.7 %>70% - 80%39.4 %38.0 %>80% - 90%11.8 %12.7 %>90% - 100%4.6 %4.7 %>100%4.0 %4.2 %Total100.0 %100.0 %

(1)For second mortgages, the Company calculates the combined LTV. For business purpose bridge loans, the Company calculates L