Company: ADAMM
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001273685-25-000072
Chunk: 52

Company: ADAMAS TRUST, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 52
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 unrestricted cash and cash equivalents, and unencumbered securities that could be monetized to pay down or collateralize the liability immediately. As of June 30, 2025, the Company had $156.1 million included in cash and cash equivalents and $272.5 million in unencumbered investment securities available to meet additional haircuts or market valuation requirements. The following table presents information about the Company's unencumbered securities at June 30, 2025 (dollar amounts in thousands):Unencumbered SecuritiesJune 30, 2025Agency RMBS$231,746 Non-Agency RMBS (1) (2)39,002 U.S. Treasury securities1,785 Total$272,533 (1)Includes IOs in Consolidated SLST with a fair value of $12.6 million as of June 30, 2025. Consolidated SLST securities owned by the Company are eliminated in consolidation in accordance with GAAP.(2)Includes CDOs repurchased from our residential loan securitizations with a fair value of $5.1 million as of June 30, 2025. Repurchased CDOs are eliminated in consolidation in accordance with GAAP.The Company also had unencumbered residential loans with a fair value of $78.7 million at June 30, 2025.Residential Loans, Real Estate Owned and Single-family Rental PropertiesThe Company has repurchase agreements with six financial institutions to finance residential loans, real estate owned and single-family rental properties. The following table presents detailed information about the Company’s financings under these repurchase agreements and associated assets pledged as collateral at June 30, 2025 and December 31, 2024, respectively (dollar amounts in thousands):    Maximum Aggregate Uncommitted Principal AmountOutstandingRepurchase Agreements (1)Net Deferred Finance Costs (2)Carrying Value of Repurchase AgreementsCarrying Value of Assets Pledged (3)Weighted Average RateWeighted Average Months to Maturity (4)June 30, 2025$2,925,000 $305,440 $(82)$305,358 $427,669 6.44 %9.70December 31, 2024$2,775,000 $496,410 $(796)$495,614 $659,183 6.70 %9.64

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(1)Includes non-mark-to-market rep