Company: ADAMM
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001273685-25-000028
Chunk: 86

Company: ADAMAS TRUST, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 16
Chunk 86
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):Greater than 90 days past dueLess than 90 days past dueFair ValueUnpaid Principal BalanceFair ValueUnpaid Principal BalanceDecember 31, 2024$159,558 $183,067 $8,098 $8,749 December 31, 2023199,485 220,577 9,362 9,948 Formal foreclosure proceedings were in process with respect to residential loans with an aggregate fair value of $136.9 million and an aggregate unpaid principal balance of $156.8 million as of December 31, 2024.Residential loans held in Consolidated SLST with an aggregate unpaid principal balance of $117.1 million and $84.6 million were 90 days or more delinquent as of December 31, 2024 and 2023, respectively. In addition, formal foreclosure proceedings were in process with respect to $39.6 million of residential loans held in Consolidated SLST as of December 31, 2024.

F-26

4.      Investment Securities Available For Sale, at Fair ValueThe Company accounts for certain of its investment securities available for sale using the fair value election pursuant to ASC 825, where changes in fair value are recorded in unrealized (losses) gains, net on the Company's consolidated statements of operations.  The Company also had investment securities available for sale where the fair value option had not been elected, which we refer to as CECL Securities.  CECL Securities are reported at fair value with unrealized gains and losses recorded in other comprehensive income (loss) on the Company's consolidated statements of comprehensive loss. The Company's investment securities available for sale consisted of the following as of December 31, 2024 and 2023, respectively (dollar amounts in thousands):December 31, 2024December 31, 2023Amortized CostUnrealizedFair ValueAmortized CostUnrealizedFair ValueGainsLossesGainsLossesFair Value OptionAgency RMBSFixed rateFannie Mae$1,483,619 $7,819 $(7,991)$1,483,447 $1,084,702 $15,902 $(723)$1,099,881 Freddie Mac1,465,419 3,914 (13,720)1,455,613 676,436 5,679 (1,106)681,009 Total Fixed rate2,949