Company: ADAMM
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001273685-25-000028
Chunk: 85

Company: ADAMAS TRUST, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 16
Chunk 85
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losses) on the CDOs issued by Consolidated SLST.

F-25

The Company recognized $2.2 million, $4.6 million and $10.0 million of net realized gains on the payoff of residential loans, at fair value during the years ended December 31, 2024, 2023 and 2022, respectively. The Company also recognized $1.0 million and $0.8 million of net realized losses on the sale of residential loans, at fair value during the years ended December 31, 2024 and 2023, respectively. The Company did not sell any residential loans during the year ended December 31, 2022. The geographic concentrations of credit risk exceeding 5% of the unpaid principal balance of residential loans, at fair value as of December 31, 2024 and 2023, respectively, are as follows:December 31, 2024December 31, 2023Residential loansConsolidated SLSTResidential loans held in securitization trustsResidential loansConsolidated SLSTResidential loans held in securitization trustsCalifornia23.0 %11.7 %20.2 %22.4 %10.7 %18.4 %Florida10.4 %9.1 %12.2 %15.5 %10.3 %11.0 %New Jersey8.0 %6.8 %5.2 %4.9 %7.6 %6.0 %New York6.6 %10.8 %6.6 %7.0 %10.0 %8.5 %Texas6.2 %4.4 %7.9 %8.1 %3.9 %7.1 %Pennsylvania5.1 %3.9 %3.8 %2.2 %4.1 %4.1 %Illinois2.2 %6.3 %3.1 %3.0 %7.2 %3.5 %The following table presents the fair value and aggregate unpaid principal balance of the Company’s residential loans and residential loans held in securitization trusts in non-accrual status as of December 31, 2024 and 2023, respectively (dollar amounts in thousands