Company: ADAMM
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001273685-25-000028
Chunk: 267

Company: ADAMAS TRUST, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 267
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 strategy1,720 919,990 896,988 73565%9.6%Business purpose rental loan strategy1,111 311,663 282,480 74968%5.1%Total10,321 $2,500,289 $2,329,443 

(1)For second mortgages (included in performing residential loan strategy), the Company calculates the combined loan-to-value ("LTV"). For business purpose bridge loans, the Company calculates LTV as the ratio of the maximum unpaid principal balance of the loan, including unfunded commitments, to the estimated “after repaired” value of the collateral securing the related loan.

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Characteristics of Our Acquired Residential Loans: 

Loan to Value at Purchase (1)December 31, 2024December 31, 202350% or less9.0 %13.6 %>50% - 60%9.7 %10.9 %>60% - 70%21.7 %22.4 %>70% - 80%38.0 %29.5 %>80% - 90%12.7 %11.8 %>90% - 100%4.7 %6.0 %> 100%4.2 %5.8 %Total100.0 %100.0 %

(1)For second mortgages, the Company calculates the combined LTV. For business purpose bridge loans, the Company calculates LTV as the ratio of the maximum unpaid principal balance of the loan, including unfunded commitments, to the estimated “after repaired” value of the collateral securing the related loan.

FICO Scores at PurchaseDecember 31, 2024December 31, 2023550 or less5.6 %9.1 %551 to 6004.8 %7.9 %601 to 6505.3 %8.3 %651 to 70014.6 %15.6 %701 to 75027.5 %24.0 %751 to 80034.5 %28.0 %801 and over7.7 %7.1 %Total100.0 %100.0 %

Current CouponDecember 31, 2024December 31, 20233.00% or less5.4 %7.6 %3.01