Company: ADAMM
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001273685-25-000028
Chunk: 120

Company: ADAMAS TRUST, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 16
Chunk 120
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 or market valuation requirements. The following table presents information about the Company's unencumbered securities at December 31, 2024 (dollar amounts in thousands):Unencumbered SecuritiesDecember 31, 2024Agency RMBS$128,012 Non-Agency RMBS (1) (2)42,155 Total$170,167 (1)Includes IOs in Consolidated SLST with a fair value of $14.0 million as of December 31, 2024. Consolidated SLST securities owned by the Company are eliminated in consolidation in accordance with GAAP.(2)Includes CDOs repurchased from our residential loan securitizations with a fair value of $5.3 million as of December 31, 2024. Repurchased CDOs are eliminated in consolidation in accordance with GAAP.The Company also had unencumbered residential loans with a fair value of $128.7 million at December 31, 2024.Residential Loans, Real Estate Owned and Single-family Rental PropertiesThe Company has repurchase agreements with six financial institutions to finance residential loans, real estate owned and single-family rental properties. The following table presents detailed information about the Company’s financings under these repurchase agreements and associated assets pledged as collateral at December 31, 2024 and 2023, respectively (dollar amounts in thousands):    Maximum Aggregate Uncommitted Principal AmountOutstandingRepurchase Agreements  (1)Net Deferred Finance Costs (2)Carrying Value of Repurchase AgreementsCarrying Value of Assets Pledged (3)Weighted Average RateWeighted Average Months to Maturity (4)December 31, 2024$2,775,000 $496,410 $(796)$495,614 $659,183 6.70 %9.64December 31, 2023$2,225,000 $611,055 $(2,005)$609,050 $805,082 7.87 %13.89(1)Includes non-mark-to-market repurchase agreements with an aggregate outstanding balance of $15.0 million, a weighted average rate of 7.09%, and weighted average months to maturity of 8 months as of December 31, 2024. 

F-55

Includes non-mark-to-market repurchase agreements with an aggregate outstanding balance of $179.1 million, a weighted average rate of 8.19%, and weighted