Company: ADAMM
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001273685-25-000028
Chunk: 137

Company: ADAMAS TRUST, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 16
Chunk 137
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ortgage servicing rights (2)— — 21,003 21,003 — — — — Assets of disposal group held for sale (3)— 67 — 67 — 2,960 — 2,960 Total$— $3,828,667 $4,062,425 $7,891,092 $— $2,023,287 $3,327,211 $5,350,498 Liabilities carried at fair value        CDOs:Consolidated SLST$— $— $811,591 $811,591 $— $— $593,737 $593,737 Residential loan securitizations— 1,253,332 — 1,253,332 — — — — Non-Agency RMBS re-securitization— 70,757 — 70,757 — — — — Senior unsecured notes— 60,310 — 60,310 — — — — Derivative liabilities:Interest rate swaps (2) (4)— — — — — — — — Credit default swaps (2) (4)— — — — — — — — Total$— $1,384,399 $811,591 $2,195,990 $— $— $593,737 $593,737 (1)Excludes assets of disposal group held for sale (see Note 9).(2)Included in other assets or other liabilities, respectively, in the consolidated balance sheets.

F-68

(3)Includes interest rate caps classified as Level 2 instruments in the amount of $0.1 million and $3.0 million as of December 31, 2024 and 2023, respectively.(4)All of the Company’s interest rate swaps, credit default swaps and U.S. Treasury futures are cleared through central clearing houses. The Company exchanges variation margin for the derivative instruments based upon daily changes in fair value. Includes derivative liabilities of $19.9 million netted against derivative assets of $64.9 million and a net variation margin of $45.0 million as of December 31, 2024. Includes derivative liabilities of $40.5