Company: ADAMM
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001273685-25-000072
Chunk: 69

Company: ADAMAS TRUST, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 69
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 appropriate and consistent with other market participants, the use of different methodologies, or assumptions, to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. The Company uses inputs that are current as of each reporting date, which may include periods of market dislocation, during which time price transparency may be reduced. This condition could cause the Company’s financial instruments to be reclassified from Level 2 to Level 3 in future periods.    

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The following table presents the Company’s financial instruments measured at fair value on a recurring basis as of June 30, 2025 and December 31, 2024, respectively, on the Company’s condensed consolidated balance sheets (dollar amounts in thousands):Measured at Fair Value on a Recurring Basis atJune 30, 2025December 31, 2024Level 1Level 2Level 3TotalLevel 1Level 2Level 3TotalAssets carried at fair value        Residential loans:Residential loans$— $— $367,089 $367,089 $— $— $632,266 $632,266 Consolidated SLST— — 1,199,383 1,199,383 — — 965,672 965,672 Residential loans held in securitization trusts— — 2,459,555 2,459,555 — — 2,243,800 2,243,800 Investment securities available for sale:        Agency RMBS— 4,929,799 — 4,929,799 — 3,136,812 — 3,136,812 Non-Agency RMBS— 39,367 — 39,367 — 69,687 — 69,687 U.S. Treasury securities— 140,435 — 140,435 — 622,045 — 622,045 Multi-family loans— — 74,999 74,999 — — 86,192 86,192 Equity investments— — 91,440 91,440 — — 113,492 113,492 Derivative assets:      Interest rate caps (1) (2)— 269 — 269 — 56 — 56 TBAs (2)— 105