Two Harbors Investment Corp.
TWO-PA
New York Stock Exchange24.69
USD
-0.03
- -
Two Harbors Investment Corp.
TWO-PA
(New York Stock Exchange)
Recent
price
24.69
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Two Harbors Investment Corp. Two Harbors Investment Corp. (NYSE: TWO) operates as a Maryland corporation and real estate investment trust (REIT) that invests in, finances, and manages mortgage servicing rights (MSRs), agency residential mortgage-backed securities (RMBS) collateralized by fixed-rate, adjustable-rate, and hybrid mortgage loans, and other financial assets including non-agency securities and mortgage-related derivatives; it conducts these activities primarily through its operational platform, RoundPoint Mortgage Servicing LLC. The company targets residential mortgage-backed securities guaranteed by government-sponsored enterprises such as Fannie Mae, Freddie Mac, and Ginnie Mae; mortgage servicing rights on conventional loans servicing over 900,000 loans with an unpaid principal balance exceeding $200 billion; and complementary assets like to-be-announced securities (TBAs), interest rate swaps, and U.S. Treasury futures for hedging interest rate and prepayment risks. Founded in 2009 and headquartered in St. Louis Park, Minnesota, Two Harbors Investment Corp. focuses on the U.S. mortgage market, delivering risk-adjusted returns to stockholders primarily through dividends while qualifying as a REIT for federal income tax purposes, requiring distribution of at least 90% of taxable income. Recent developments include the 2023 acquisition of RoundPoint Mortgage Servicing LLC by its subsidiary Matrix Financial Services Corporation, enhancing vertical integration, self-servicing capabilities, and projected pre-tax earnings contributions; the launch of a direct-to-consumer recapture originations platform at RoundPoint; post-quarter MSR bulk acquisitions totaling $2.6 billion in unpaid principal balance in 2024; repurchase of $10.0 million in convertible senior notes due 2026; and expansion of its at-the-market common stock offering program to 15.0 million shares.