Company: ADAMM
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001273685-25-000047
Chunk: 334

Company: ADAMAS TRUST, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 8
Chunk 334
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56 56 Derivative assets in disposal group held for saleLevel 2222 222 67 67 Mortgage servicing rightsLevel 320,297 20,297 21,003 21,003 Financial Liabilities:     Repurchase agreementsLevel 24,485,716 4,485,716 4,012,225 4,012,225 Collateralized debt obligations:Residential loan securitizations at amortized cost, netLevel 3757,673 740,808 842,764 818,482 Residential loan securitizations at fair valueLevel 21,554,353 1,554,353 1,253,332 1,253,332 Consolidated SLSTLevel 3805,273 805,273 811,591 811,591 Non-Agency RMBS re-securitizationLevel 269,515 69,515 70,757 70,757 Subordinated debenturesLevel 345,000 38,976 45,000 38,918 Senior unsecured notes:Senior unsecured notes at amortized cost, netLevel 299,087 99,488 98,886 98,632 Senior unsecured notes at fair valueLevel 2139,761 139,761 60,310 60,310 Mortgages payable on real estateLevel 3365,455 353,914 366,606 347,915 Mortgages payable on real estate in disposal group held for saleLevel 389,364 89,364 93,370 93,370 

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In addition to the methodology to determine the fair value of the Company’s financial assets and liabilities reported at fair value, as previously described, the following methods and assumptions were used by the Company in arriving at the fair value of the Company’s other financial instruments in the table immediately above:a.Cash and cash equivalents – Estimated fair value approximates the carrying value of such assets.b.Repurchase agreements – The fair value of these repurchase agreements approximates cost as they are short term in nature.c.Residential loan securitizations at amortized cost, net – The fair value of these CDOs is based on discounted cash flows as well as market pricing on comparable obligations.d.Subordinated debentures – The fair value of these subordinated debentures is based on discounted cash flows using management’s estimate for market