Company: ADAMM
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001273685-25-000047
Chunk: 60

Company: ADAMAS TRUST, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 60
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535 $754,860 $1,501,908 $95,792 $147,116 $3,327,211 Total losses (realized/unrealized)Included in earnings(2,924)(138)(1,773)(2,137)(2,037)(9,009)Transfers out (1)(18,180)— (2,886)— — (21,066)Transfer to securitization trust, net (2)(370,804)— 370,804 — — — Paydowns/Distributions(62,718)(16,596)(152,806)(1,750)(7,136)(241,006)Sales(22,204)— (6,708)— — (28,912)Purchases290,024 — 15,711 — — 305,735 Balance at the end of period$640,729 $738,126 $1,724,250 $91,905 $137,943 $3,332,953 (1)Transfers out of Level 3 assets represents the transfer of residential loans to real estate owned, single-family rental properties and other assets. (2)During the three months ended March 31, 2024, the Company transferred certain residential loans into residential loan securitizations (see Note 7 for further discussion of the Company's residential loan securitizations).The following table details changes in valuation for the Level 3 liabilities for the three months ended March 31, 2025 and 2024, respectively (dollar amounts in thousands):Level 3 Liabilities:Consolidated SLST CDOs Three Months Ended March 31, 20252024Balance at beginning of period$811,591 $593,737 Total gains (realized/unrealized)Included in earnings 8,637 1,396 Paydowns(14,955)(12,506)Balance at the end of period$805,273 $582,627 

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The following table discloses quantitative information regarding the significant unobservable inputs used in the valuation of our Level 3 assets and liabilities measured at fair value (dollar amounts in thousands, except input values):March 31, 2025Fair ValueValuation Technique Unobservable InputWeighted Average RangeAssetsResidential loans:Residential loans and residential loans held in securitization