Latest news with #TwoHarborsInvestmentCorp
Yahoo
30-07-2025
- Business
- Yahoo
Two Harbors Investment Corp (TWO) Q2 2025 Earnings Call Highlights: Navigating Challenges with ...
Total Economic Return: Negative 14.5% including loss contingency accrual; minus 1.4% excluding the accrual. Book Value: Decreased to $12.14 per share. Comprehensive Loss: $221.8 million or $2.13 per share including accrual; $21.9 million or $0.21 per share excluding accrual. Net Interest and Servicing Income: Increased by $3.1 million. Loss Contingency Accrual: $199.9 million or $1.92 per share related to litigation. First Lien Originations: Funded $48 million UPB, a 68% increase from the first quarter. Second Liens: Brokered $44 million UPB in the quarter. MSR Portfolio: Purchased $6.4 billion UPB of MSR through three bulk purchases. Economic Debt-to-Equity: Increased to 7 times. Agency RMBS Portfolio: $14.4 billion including $11.4 billion in settled positions and $3 billion in TBAs. Unused MSR Asset Financing Capacity: $837 million. Senior Notes Issuance: $115 million aggregate principal amount of 9.375% senior notes due 2030. Warning! GuruFocus has detected 4 Warning Signs with TWO. Release Date: July 29, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Two Harbors Investment Corp (NYSE:TWO) experienced a significant recovery in the performance of Agency RMBS spreads as the macro environment improved. The company maintained a disciplined approach to risk, keeping interest rate and spread exposures low, and utilized leverage judiciously. Two Harbors Investment Corp (NYSE:TWO) increased its first lien originations by 68% quarter-over-quarter, outpacing the national trend. The company is investing in AI technologies to increase efficiencies, reduce costs, and improve customer experiences. Two Harbors Investment Corp (NYSE:TWO) has a strong platform and experienced team, positioning it well to navigate changing market cycles and create long-term value. Negative Points The company reported a total economic return of negative 14.5% for the second quarter, including a significant loss contingency accrual. Two Harbors Investment Corp (NYSE:TWO) faced a comprehensive loss of $221.8 million in the quarter, impacted by unfavorable market movements on MSR, swaps, TBAs, and futures. The company's leverage increased to 7 times, partly due to the litigation reserve, which may affect future portfolio actions. The ongoing litigation from the termination of the management agreement with PRCM Advisers in 2020 remains unresolved, with no trial date set. The MSR market supply has declined by about 30% year-over-year, potentially limiting opportunities for bulk purchases. Q & A Highlights Q: Your leverage increased this quarter due to the litigation reserve. Is this the new level of leverage we should expect, or are there more portfolio actions to adjust it? A: Nicholas Letica, Chief Investment Officer, explained that the leverage of 7 times is within their historical range of 5% to 8%. They increased leverage due to attractive market conditions and feel comfortable with the current level. The leverage might adjust based on market opportunities and capital base. Q: Can you provide an update on economic return performance so far in July? A: William Greenberg, President and CEO, stated that quarter-to-date through last Friday, they were up about 1.5% in economic return on the new book value. Q: What are the main differences between the expected returns on slide 15 and the EAD metric? A: William Greenberg explained that EAD is based on historical purchase yields, while the return outlook reflects forward-looking mark-to-market yields at current prices. The expected returns account for potential fluctuations in prepayments, funding spreads, and leverage. Q: Could you comment on your risk appetite and any changes in rate or spread exposure? A: Nicholas Letica noted that their rate exposure is virtually unchanged quarter-over-quarter, and spread risk is also stable. They find mortgage spreads attractive and are comfortable with their current risk levels, given the low spread volatility and supportive market conditions. Q: Can you discuss your financing strategy and the shift from repo to unsecured financing this quarter? A: William Dellal, CFO, explained that the issuance of the unsecured baby bond was to prefinance the maturity of convertible notes and some warehouse lines. This change is part of their strategy to manage upcoming maturities. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
15-07-2025
- Business
- Business Wire
TWO Announces Earnings Release and Conference Call for Second Quarter 2025 Financial Results
NEW YORK--(BUSINESS WIRE)-- TWO (Two Harbors Investment Corp, NYSE: TWO), an MSR-focused REIT, announced today that it will release financial results for the quarter ended June 30, 2025 after market close on July 28, 2025. The company will host a conference call and live webcast to review the financial results on July 29, 2025 at 9:00 a.m. ET. Webcast Details The conference call will be webcast live and accessible online in the News & Events section of the company's website at For those unable to attend, a replay of the webcast will be available on the company's website approximately four hours after the live call ends. Teleconference Details To participate in the call via teleconference, please call toll-free (888) 394-8218 approximately 10 minutes prior to the above start time and provide the Conference Code 3889089. About TWO TWO (Two Harbors Investment Corp., NYSE: TWO), a Maryland corporation, is a real estate investment trust that invests in mortgage servicing rights, residential mortgage-backed securities and other financial assets. TWO is headquartered in St. Louis Park, MN. Additional Information Stockholders of TWO and other interested persons may find additional information regarding the company at at the Securities and Exchange Commission's internet site at or by directing requests to: TWO, 1601 Utica Avenue South, Suite 900, St. Louis Park, MN 55416, (612) 453-4100.
Yahoo
13-05-2025
- Business
- Yahoo
TWO Announces Details Pertaining to the 2025 Annual Meeting of Stockholders
NEW YORK, May 13, 2025--(BUSINESS WIRE)--TWO (Two Harbors Investment Corp, NYSE: TWO), an MSR-focused REIT, today announced log-in details for its 2025 Annual Meeting of Stockholders to be held virtually on May 14, 2025, beginning at 10:00 a.m. Eastern Time. Stockholders can attend the virtual annual meeting via the internet at Stockholders of record as of the close of business on March 19, 2025 will be eligible to vote their shares and submit questions electronically in advance of and during the virtual annual meeting by using the 16-digit control number included in the notice of internet availability of the proxy materials, on their individual proxy card or on the voting instruction form accompanying these proxy materials. We recommend that stockholders log in at least 15 minutes before the meeting to ensure they are logged in when the meeting starts. A replay of the meeting will be available for one year following the meeting date. To listen to a replay of the annual meeting, please visit About TWO TWO (Two Harbors Investment Corp., NYSE: TWO), a Maryland corporation, is a real estate investment trust that invests in mortgage servicing rights, residential mortgage-backed securities and other financial assets. TWO is headquartered in St. Louis Park, MN. Additional Information Stockholders of TWO and other interested persons may find additional information regarding the company at at the Securities and Exchange Commission's internet site at or by directing requests to: TWO, 1601 Utica Avenue South, Suite 900, St. Louis Park, MN 55416, (612) 453-4100. View source version on Contacts Margaret KarrHead of Investor Relations, TWO(612)
Business Wire
13-05-2025
- Business
- Business Wire
TWO Announces Details Pertaining to the 2025 Annual Meeting of Stockholders
NEW YORK--(BUSINESS WIRE)-- TWO (Two Harbors Investment Corp, NYSE: TWO), an MSR-focused REIT, today announced log-in details for its 2025 Annual Meeting of Stockholders to be held virtually on May 14, 2025, beginning at 10:00 a.m. Eastern Time. Stockholders can attend the virtual annual meeting via the internet at Stockholders of record as of the close of business on March 19, 2025 will be eligible to vote their shares and submit questions electronically in advance of and during the virtual annual meeting by using the 16-digit control number included in the notice of internet availability of the proxy materials, on their individual proxy card or on the voting instruction form accompanying these proxy materials. We recommend that stockholders log in at least 15 minutes before the meeting to ensure they are logged in when the meeting starts. A replay of the meeting will be available for one year following the meeting date. To listen to a replay of the annual meeting, please visit About TWO TWO (Two Harbors Investment Corp., NYSE: TWO), a Maryland corporation, is a real estate investment trust that invests in mortgage servicing rights, residential mortgage-backed securities and other financial assets. TWO is headquartered in St. Louis Park, MN. Additional Information Stockholders of TWO and other interested persons may find additional information regarding the company at at the Securities and Exchange Commission's internet site at or by directing requests to: TWO, 1601 Utica Avenue South, Suite 900, St. Louis Park, MN 55416, (612) 453-4100.
Yahoo
15-04-2025
- Business
- Yahoo
TWO Announces Earnings Release and Conference Call for First Quarter 2025 Financial Results
NEW YORK, April 15, 2025--(BUSINESS WIRE)--TWO (Two Harbors Investment Corp, NYSE: TWO), an MSR-focused REIT, announced today that it will release financial results for the quarter ended March 31, 2025 after market close on April 28, 2025. The company will host a conference call and live webcast to review the financial results on April 29, 2025 at 9:00 a.m. ET. Webcast Details The conference call will be webcast live and accessible online in the News & Events section of the company's website at For those unable to attend, a replay of the webcast will be available on the company's website approximately four hours after the live call ends. Teleconference Details To participate in the call via teleconference, please call toll-free (888) 394-8218 approximately 10 minutes prior to the above start time and provide the Conference Code 5182687. About TWO TWO (Two Harbors Investment Corp., NYSE: TWO), a Maryland corporation, is a real estate investment trust that invests in mortgage servicing rights, residential mortgage-backed securities and other financial assets. TWO is headquartered in St. Louis Park, MN. Additional Information Stockholders of TWO and other interested persons may find additional information regarding the company at at the Securities and Exchange Commission's internet site at or by directing requests to: TWO, 1601 Utica Avenue South, Suite 900, St. Louis Park, MN 55416, (612) 453-4100. View source version on Contacts Margaret Karr, Head of Investor Relations, TWO, (612) 453-4080, Sign in to access your portfolio
