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Two Harbors Investment Corp. (NYSE: TWO) is an MSR-focused real estate investment trust that invests in mortgage servicing rights, residential mortgage-backed securities and other financial assets. News about Two Harbors often centers on its mortgage finance activities, portfolio composition, financing arrangements and corporate transactions, all of which are relevant to investors following the mortgage and real estate investment trust sectors.
Regular news items include quarterly earnings releases, where the company reports book value per common share, economic return on book value, comprehensive income or loss, and earnings available for distribution. These releases also summarize the composition of the MSR and Agency RMBS portfolio, including unpaid principal balance, coupon characteristics, delinquency metrics and prepayment speeds, as well as details on hedging instruments and financing costs.
Two Harbors also issues press releases about its dividend decisions for common and preferred stock, explaining how dividend levels relate to portfolio earnings, taxable income, book value and market conditions. Additional news covers capital markets activity, such as the pricing of senior notes offerings and updates to at-the-market equity offering programs, along with the use of proceeds for refinancing debt, financing MSR and Agency RMBS purchases, and other corporate purposes.
A significant recent news theme is the announced all-stock acquisition of Two Harbors by UWM Holdings Corporation, described in joint press releases and Form 8-K filings. Coverage of this transaction includes the agreed exchange ratio for Two Harbors common stock, the treatment of preferred stock, expected timing subject to customary conditions, and the strategic rationale presented by both companies. Investors who follow TWO news can review these items to understand how the planned merger, litigation settlements and portfolio developments may affect the company’s future within the mortgage finance landscape.
Two Harbors Investment Corp (NYSE: TWO) has announced its dividend distributions for Q4 2024. The company declared a common stock dividend of $0.45 per share, payable on January 29, 2025, to stockholders of record as of January 3, 2025. Additionally, TWO announced preferred stock dividends: $0.50781 per share for Series A (8.125%), $0.47656 per share for Series B (7.625%), and $0.45313 per share for Series C (7.25%). These preferred dividends will be paid on January 27, 2025, to stockholders of record as of January 10, 2025.
TWO has announced the appointment of Travis Swenson as Chief Financial Officer, effective May 5, 2025. Prior to this date, Swenson will serve as Deputy CFO, reporting to Interim CFO William Dellal, who will resign on the effective date. Swenson brings extensive experience from his previous roles as CFO at Colliers Mortgage Holdings (2020-2024), Global Head of Client Accounting Services at WeWork (2019-2020), and Senior Managing Director at CBRE (2013-2019). He also spent 13 years at Deloitte & Touche LLP in various positions. Swenson, a licensed CPA, holds a Bachelor of Accountancy and an MBA.
Two Harbors Investment Corp. (TWO) reported its Q3 2024 financial results, generating Comprehensive Income of $19.3 million ($0.18 per share). The company declared a quarterly dividend of $0.45 per share and reported book value of $14.93 per share, representing a 1.3% quarterly economic return. TWO settled $3.3 billion in MSR acquisitions and completed its first full quarter of direct-to-consumer originations. The portfolio comprised $11.4 billion of Agency RMBS, MSR, and other securities, plus $5.0 billion in TBA positions. Post-quarter, TWO committed to purchase an additional $2.1 billion UPB of MSR.
Two Harbors Investment Corp. (NYSE: TWO), an MSR + Agency RMBS real estate investment trust, has announced the release of its third quarter 2024 financial results. The company will disclose its financial performance for the quarter ended September 30, 2024, after market close on October 28, 2024. Following this, Two Harbors will host a conference call and live webcast on October 29, 2024, at 9:00 a.m. ET to review the results.
Investors can access the webcast through the News & Events section of the company's website. For those unable to attend, a replay will be available approximately four hours after the live call ends. To join via teleconference, participants should call toll-free (888) 394-8218 about 10 minutes before the start time and provide the Conference Code 5083733.
Two Harbors Investment Corp. (NYSE: TWO), an MSR + Agency RMBS REIT, has announced its third quarter 2024 dividend for common and preferred stockholders. The company declared a dividend of $0.45 per share of common stock, payable on October 29, 2024, to stockholders of record as of October 1, 2024. Additionally, Two Harbors declared dividends for its preferred stock series: $0.50781 per share for Series A, $0.47656 per share for Series B, and $0.45313 per share for Series C. These preferred dividends will be paid on October 28, 2024, to stockholders of record as of October 11, 2024. The company, headquartered in St. Louis Park, MN, invests in mortgage servicing rights, residential mortgage-backed securities, and other financial assets.
Two Harbors Investment Corp. (NYSE: TWO), an MSR + Agency RMBS REIT, has announced two key appointments to strengthen its operational capabilities. James Campbell has been named Head of Servicing at RoundPoint Mortgage Servicing , bringing over three decades of experience in servicing and financial services. Campbell's background includes leadership roles at Flagstar Bank, Caliber Home Loans, Deutsche Bank, and Credit Suisse.
Additionally, Chris Hurley has been appointed as Chief Technology Officer. Hurley brings more than 20 years of experience in managing large technology platforms within the financial services industry, most recently serving as SVP, Head of Servicing Technology at Newrez/Shellpoint Mortgage Servicing.
These strategic hires aim to enhance Two Harbors' operational business and leverage the company's position in the mortgage servicing and technology sectors.
Intercontinental Exchange (NYSE: ICE) announced that Two Harbors Investment Corp. (NYSE: TWO) has chosen ICE's Encompass digital mortgage platform to support their new direct-to-consumer recapture originations channel. This decision is part of Two Harbors' strategy to retain servicing customers when interest rates drop and borrowers refinance. Two Harbors, now the eighth largest servicer of conventional loans in the U.S. after acquiring RoundPoint Mortgage Servicing in 2023, selected Encompass for its configurability and rapid implementation.
Bill Greenberg, Two Harbors' President and CEO, highlighted the platform's efficiency, stating they were able to offer loans to RoundPoint customers within months of choosing Encompass. The partnership aims to leverage ICE's integrated technology ecosystem for enhanced capabilities and customer benefits.
Two Harbors Investment Corp. (NYSE: TWO) reported its Q2 2024 financial results. Key highlights include:
- Book value of $15.19 per common share
- Declared Q2 common stock dividend of $0.45 per share
- Flat quarterly economic return on book value
- 5.8% total economic return on book value for H1 2024
- Comprehensive Income of $0.5 million, or $0.00 per weighted average basic common share
- Repurchased $10.0 million of convertible senior notes due 2026
- Launched direct-to-consumer recapture originations platform
- Committed to sell $6.4 billion UPB of MSR
- Settled $327.8 million UPB of MSR through flow-sale acquisitions
- Post-quarter, settled $1.6 billion UPB MSR bulk acquisition and committed to purchase additional $1.0 billion UPB
Two Harbors Investment Corp. (NYSE: TWO), an MSR + Agency RMBS real estate investment trust, has announced its schedule for releasing second quarter 2024 financial results. The company will release its financial results on July 30, 2024 after market close, followed by a conference call and live webcast on July 31, 2024 at 9:00 a.m. ET. Investors can access the webcast through the News & Events section of the company's website, with a replay available approximately four hours after the live call ends. For teleconference participation, interested parties can call toll-free (888) 394-8218 about 10 minutes before the start time, using the Conference Code 1669717.
A group of Voxtur shareholders, including former chairman Nicholas H. Smith, is pushing for a major overhaul of the company's board at the upcoming Annual General and Special Meeting (AGSM) scheduled for June 28, 2024. The Voxtur Shareholders for Accountability, holding about 19% of the company's shares, are advocating for six new board members due to significant financial declines under the current management. The company has faced losses in each of the past five years, including a Q4 2023 adjusted EBITDA loss of C$3.9 million and a Q1 2024 loss of C$665,000. The group's nominees include seasoned professionals like Alan P. Qureshi, who is proposed as the new CEO. They aim to implement a long-term strategic plan, streamline expenses, and enhance transparency in financial reporting. The current board is criticized for lacking a coherent strategic plan, experiencing high turnover, and incurring excessive costs.
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