Company: ADAMM
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001273685-25-000047
Chunk: 79

Company: ADAMAS TRUST, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 79
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olidated SLST10,740 8,127 Residential loans held in securitization trusts43,241 26,931 Total residential loans64,999 46,747 Investment securities available for sale61,049 32,903 Multi-family loans2,580 2,642 Other1,106 1,600 Total interest income129,734 83,892 Interest expenseRepurchase agreements52,489 39,153 Collateralized debt obligationsConsolidated SLST6,964 5,801 Residential loan securitizations30,325 18,376 Non-Agency RMBS re-securitization1,290 — Total collateralized debt obligations38,579 24,177 Senior unsecured notes4,617 1,626 Subordinated debentures951 1,073 Total interest expense96,636 66,029 Net interest income$33,098 $17,863 

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23.      Other Income (Loss)The following table details the components of the Company's other income (loss) for the three months ended March 31, 2025 and 2024, respectively (dollar amounts in thousands):For the Three Months Ended March 31,20252024Servicing fee income$1,979 $— (Loss) gain on sale of real estate (1)(45)134 Preferred equity and mezzanine loan premiums resulting from early redemption— 98 Gain on de-consolidation of joint venture equity investment in Consolidated VIEs— 50 Loss on extinguishment of collateralized debt obligations and mortgages payable on real estate— (692)Provision for uncollectible receivables (2)— (3,207)Miscellaneous income33 25 Total other income (loss)$1,967 $(3,592)(1)See Notes 8 and 9 for description of nature of transactions out of which items arose.(2)During the three months ended March 31, 2024, the Company recorded a provision for uncollectible receivables for asset management expenses incurred related to a non-accrual multi-family loan that are in excess of anticipated redemption proceeds (see Note 5).

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24.      Segment ReportingThe Company is in the business of acquiring, investing in, financing and managing primarily mortgage-related residential assets (the “investment portfolio”) in the United States and