Company: ADAMM
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001273685-25-000047
Chunk: 14

Company: ADAMAS TRUST, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 14
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 ended March 31, 2025 and 2024, respectively. 

14

The geographic concentrations of credit risk exceeding 5% of the unpaid principal balance of residential loans, at fair value as of March 31, 2025 and December 31, 2024, respectively, are as follows:March 31, 2025December 31, 2024Residential loansConsolidated SLSTResidential loans held in securitization trustsResidential loansConsolidated SLSTResidential loans held in securitization trustsCalifornia26.5 %11.8 %17.4 %23.0 %11.7 %20.2 %Florida13.2 %9.1 %12.0 %10.4 %9.1 %12.2 %New York8.4 %10.8 %6.7 %6.6 %10.8 %6.6 %New Jersey7.8 %6.7 %5.7 %8.0 %6.8 %5.2 %Texas6.5 %4.4 %7.5 %6.2 %4.4 %7.9 %Illinois2.0 %6.3 %3.1 %2.2 %6.3 %3.1 %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 March 31, 2025 and December 31, 2024, respectively (dollar amounts in thousands):Greater than 90 days past dueLess than 90 days past dueFair ValueUnpaid Principal BalanceFair ValueUnpaid Principal BalanceMarch 31, 2025$171,193 $192,510 $9,114 $9,491 December 31, 2024159,558 183,067 8,098 8,749 Formal foreclosure proceedings were in process with respect to residential loans with an aggregate fair value of $127.8 million and an aggregate unpaid principal balance of $144.3 million as of March 31, 2025.Residential loans held in Consolidated SLST with an aggregate unpaid principal balance of $117.9 million and $117.1 million were