Company: ADAMM
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001273685-25-000088
Chunk: 176

Company: ADAMAS TRUST, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 176
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DOs issued by the Company's residential loan securitizations as of September 30, 2025 and December 31, 2024, respectively (dollar amounts in thousands):

September 30, 2025Outstanding Face AmountCarrying ValueWeighted Average Interest Rate (1)(2)Stated Maturity (3)Consolidated SLST (4)$1,074,080 $1,016,952 3.36 %2059 - 2065Residential loan securitizations at fair value (4)$2,148,070 $2,118,581 5.34 %2029 - 2069Residential loan securitizations at amortized cost, net$376,200 $375,164 3.73 %2035 - 2061

December 31, 2024Outstanding Face AmountCarrying ValueWeighted Average Interest Rate (1)Stated Maturity (3)Consolidated SLST (4)$867,004 $811,591 3.49 %2059 - 2064Residential loan securitizations at fair value (4)$1,281,896 $1,253,332 5.72 %2029 - 2069Residential loan securitizations at amortized cost, net$850,547 $842,764 4.35 %2027 - 2062

(1)Weighted average interest rate is calculated using the outstanding face amount and stated interest rate of notes issued by the securitization and not owned by the Company.

(2)Certain of the Company's CDOs contain interest rate step-up features whereby the interest rate increases if the outstanding notes are not redeemed by expected redemption dates, as defined in the respective governing documents.  As of September 30, 2025, CDOs with an aggregate outstanding face amount of $1.9 billion contain an interest rate step-up feature whereby the interest rate increases by either 1.00%, 1.50%, or 3.00% on defined dates ranging between 24 months and 48 months after issuance, if the notes are not redeemed before such dates.

(3)The actual maturity of the Company's CDOs are primarily determined by the rate of principal prepayments on the assets of the issuing entity. The CDOs are also subject to redemption prior to the stated maturity according to the terms of the