Company: ADAMM
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001273685-25-000088
Chunk: 377

Company: ADAMAS TRUST, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 8
Chunk 377
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 the payoff of residential loans, at fair value during the three and nine months ended September 30, 2024, respectively. The Company also recognized $7.1 million of net realized gains on the sale of residential loans, at fair value during the three and nine months ended September 30, 2025. The Company recognized $4.7 million and $1.5 million of net realized gains on the sale of residential loans, at fair value during the three and nine months ended September 30, 2024, respectively. 

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The geographic concentrations of credit risk exceeding 5% of the unpaid principal balance of residential loans, at fair value as of September 30, 2025 and December 31, 2024, respectively, are as follows:September 30, 2025December 31, 2024Residential loansConsolidated SLSTResidential loans held in securitization trustsResidential loansConsolidated SLSTResidential loans held in securitization trustsCalifornia14.2 %11.2 %16.6 %23.0 %11.7 %20.2 %Florida10.2 %8.7 %10.5 %10.4 %9.1 %12.2 %New York7.2 %10.7 %6.7 %6.6 %10.8 %6.6 %New Jersey7.1 %6.2 %6.1 %8.0 %6.8 %5.2 %Pennsylvania6.1 %3.8 %5.5 %5.1 %3.9 %3.8 %Ohio5.9 %3.4 %4.0 %3.6 %1.6 %2.0 %Texas4.8 %4.4 %7.0 %6.2 %4.4 %7.9 %Illinois4.1 %7.4 %3.3 %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 September 30, 2025 and December 31, 202