Company: ADAMM
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001273685-25-000072
Chunk: 366

Company: ADAMAS TRUST, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 8
Chunk 366
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(265)Total$9,295 $(36,261)$9,962 $5,509 $33,771 $(107,539)$14,139 $50,543 (1)Includes interest rate caps held by certain Consolidated Real Estate VIEs included in other assets in disposal group held for sale (see Note 9).The following tables present information about an interest rate cap contract related to a variable-rate mortgage payable on real estate that is not included in disposal group held for sale as of June 30, 2025 and December 31, 2024, respectively (dollar amounts in thousands):June 30, 2025Financing TypeSOFR Strike PriceNotional AmountExpiration DateMortgage payable on real estate3.22%45,142 January 1, 2026December 31, 2024Financing TypeSOFR Strike PriceNotional AmountExpiration DateMortgage payable on real estate3.22%45,142 January 1, 2025The following table presents information about the Company's TBA purchase contracts as of June 30, 2025 (dollar amounts in thousands).  The Company did not own TBAs as of December 31, 2024.Notional Amount (1)Cost Basis (2)Fair Value (3)Net Carrying Value (4)Purchase contracts$10,000 $10,059 $10,164 $105 Total TBAs$10,000 $10,059 $10,164 $105 (1)Notional amount represents the par value (or principal balance) of the underlying Agency RMBS.(2)Cost basis represents the forward price to be paid for the underlying Agency RMBS.(3)Fair value represents the current fair value of the TBA (or of the underlying Agency RMBS) as of period end.(4)Net carrying value represents the difference between the fair value and the cost basis as of period end.

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The following tables present information about the Company's interest rate swaps whereby it receives floating rate payments in exchange for fixed rate payments as of June 30, 2025 and December 31, 2024, respectively (dollar amounts in thousands):June 30, 2025Swap MaturitiesNotional AmountWeighted Average Fixed Interest RateWeighted Average Variable Interest Rate2025$1,023,225 4.67 %4.59 %202630,