Company: ADAMM
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001273685-25-000028
Chunk: 124

Company: ADAMAS TRUST, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 16
Chunk 124
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 Company's net investments in the related securitizations. The following tables present a summary of the Company's CDOs as of December 31, 2024 and 2023, respectively (dollar amounts in thousands):December 31, 2024Outstanding Face AmountCarrying ValueWeighted Average Interest Rate (1) (2)Stated Maturity (3)Consolidated SLST at fair value (4)$867,004 $811,591 3.49 %2059 - 2064Residential loan securitizations at fair value (4)1,281,896 1,253,332 5.72 %2029 - 2069Residential loan securitizations at amortized cost, net850,547 842,764 4.35 %2027 - 2062Non-Agency RMBS re-securitization at fair value (4)70,867 70,757 7.38 %2064Total collateralized debt obligations$3,070,314 $2,978,444 December 31, 2023Outstanding Face AmountCarrying ValueWeighted Average Interest Rate (1)Stated Maturity (3)Consolidated SLST at fair value (4)$652,933 $593,737 2.75 %2059Residential loan securitizations at amortized cost, net1,292,015 1,276,780 4.00 %2026 - 2062Total collateralized debt obligations$1,944,948 $1,870,517 (1)Weighted average interest rate is calculated using the outstanding face amount and stated interest rate of notes issued by the securitization and not owned by the Company.(2)Certain of the Company's CDOs contain interest rate step-up features whereby the interest rate increases if the outstanding notes are not redeemed by expected redemption dates, as defined in the respective governing documents.  As of December 31, 2024, CDOs with an aggregate outstanding face amount of $1.6 billion contain an interest rate step-up feature whereby the interest rate increases by either 1.00%, 1.50%, 2.00%, or 3.00% on defined dates ranging between 24 months and 48 months after issuance, if the notes are not redeemed before such dates.(3)The actual maturity of the Company's CDO