TWO-PC on NYSE

TWO HARBORS INVESTMENT CORP.

American real estate investment trust based in Minnetonka. Summary from the record

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Last updated Oct 19, 2026.

Overview

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  • TickerTWO-PC on NYSE2
  • IndustryReal Estate Investment Trusts2
  • HeadquartersMinnetonka, United States2
  • Incorporated inMD3
  • Business address1601 Utica Avenue South, Suite 900, St. Louis Park, Mn 554163
  • Filer categoryLarge accelerated filer3
  • Legal formCORPORATION2
  • LEI549300ZUIBT6KH4HU8232
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered addressC/O CSC-lawyers Incorporating Service Company, 21202 Baltimore, United States2

Two Harbors Investment Corp. is a Maryland corporation founded in 2009 that invests in, finances and manages mortgage servicing rights (“MSR”) and Agency residential mortgage-backed securities (“RMBS”) and, through its operational platform, RoundPoint Mortgage Servicing LLC (“RoundPoint”), is one of the largest servicers of conventional loans in the country. Agency refers to a U.S. government sponsored enterprise (“GSE”), such as the Federal National Mortgage Association (“Fannie Mae”), or the Federal Home Loan Mortgage Corporation (“Freddie Mac”), or a U.S. government agency such as the Government National Mortgage Association (“Ginnie Mae”). We are structured as an internally-managed real estate investment trust (“REIT”) and our common stock is listed on the New York Stock Exchange (“NYSE”) under the symbol “TWO.” The terms “Two Harbors,” “we,” “our,” “us” and the “Company” refer to Tw…5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Net income678910-$454.3M in 2025
-$2.0B-$1.5B-$1.0B-$500.0M0$500.0M2019: $324.0M$324.0M20192020: -$1.6B-$1.6B20202021: $187.2M$187.2M20212022: $220.2M$220.2M2022+18%2023: -$106.4M-$106.4M20232024: $298.2M$298.2M20242025: -$454.3M-$454.3M2025

Every line of the income statement as filed: the last 3 fiscal years, latest first.10

Period ending2025-12-312024-12-312023-12-31
Interest income$412.0M$450.2M$480.4M
Interest expense$490.9M$607.8M$643.2M
Net interest expense-$78.9M-$157.7M-$162.9M
Servicing income$626.7M$681.6M$685.8M
Servicing costs$12.7M$20.1M$95.5M
Net servicing income$614.0M$661.6M$590.3M
Loss on investment securities-$96.2M-$40.0M-$70.0M
Loss on servicing asset-$242.2M-$62.7M-$111.6M
(Loss) gain on derivative instruments-$91.5M$106.9M-$219.2M
Gain on mortgage loans held-for-sale$4.7M$1.5M$0
Other (loss) income$5.2M$1.2M$5.1M
Total other (loss) income-$420.0M$6.8M-$395.6M
Compensation and benefits$95.3M$89.8M$52.9M
Other operating expenses$90.2M$76.2M$62.3M
Litigation settlement expense$375.0M$0$0
Total expenses$560.5M$166.0M$115.2M
(Loss) income before income taxes-$445.4M$344.8M-$83.4M
Provision for income taxes$8.9M$46.6M$23.0M
Dividends on preferred stock-$52.8M-$47.1M-$48.6M
Net (loss) income attributable to common stockholders-$507.1M$251.7M-$152.0M
Basic (loss) earnings per weighted average common share (in usd per share)-$4.88$2.41-$1.60
Diluted (loss) earnings per weighted average common share (in usd per share)-$4.88$2.37-$1.60
Net (loss) income-$454.3M$298.2M-$106.4M
Unrealized gain (loss) on available-for-sale securities$320.4M-$144.1M$102.3M
Other comprehensive income (loss)$320.4M-$144.1M$102.3M
Comprehensive (loss) income-$133.9M$154.1M-$4.1M
Gain on repurchase and retirement of preferred stock$0$644.0K$3.0M
Comprehensive (loss) income attributable to common stockholders-$186.7M$107.6M-$49.7M

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Leadership

Who has led TWO HARBORS INVESTMENT CORP., and when. Pick a name to see everywhere that person has worked.

Board members and other officers (29)

Subsidiaries and ownership

Also consolidated

Ownership links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); each one cites its LEI record.

Timeline

  1. Feb 2, 2021New chief executive William Ross Greenberg becomes CEO15
  2. Oct 28, 2009New chief executive Thomas Siering becomes CEO16

Filings

475 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 73 major events, 183 insider forms, 14 large holders, 184 other. The latest 20:

  1. Oct 8, 202615-12G EDGAR
  2. Sep 28, 202625-NSE EDGAR
  3. Sep 24, 202625 EDGAR
  4. Sep 14, 20263 EDGAR
  5. Sep 14, 20263 EDGAR
  6. Sep 10, 20268-K EDGAR
  7. Aug 25, 20264 OWNERSHIP DOCUMENT EDGAR
  8. Aug 25, 20264 OWNERSHIP DOCUMENT EDGAR
  9. Aug 25, 20264 OWNERSHIP DOCUMENT EDGAR
  10. Aug 25, 20264 OWNERSHIP DOCUMENT EDGAR
  11. Aug 25, 20264 OWNERSHIP DOCUMENT EDGAR
  12. Aug 25, 20264 OWNERSHIP DOCUMENT EDGAR
  13. Aug 25, 20264 OWNERSHIP DOCUMENT EDGAR
  14. Aug 25, 20264 OWNERSHIP DOCUMENT EDGAR
  15. Aug 25, 20264 OWNERSHIP DOCUMENT EDGAR
  16. Aug 25, 20264 OWNERSHIP DOCUMENT EDGAR
  17. Aug 25, 20264 OWNERSHIP DOCUMENT EDGAR
  18. Aug 25, 20264 OWNERSHIP DOCUMENT EDGAR
  19. Aug 25, 20264 OWNERSHIP DOCUMENT EDGAR
  20. Aug 25, 20264 OWNERSHIP DOCUMENT EDGAR

The 475 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

106 open-market trades by officers, directors and large owners since October 2021: 0 buys and 106 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
May 15, 2026KASNET STEPHEN GDirectorSale7,034$12.57$88.4KForm 4
May 15, 2026Abraham SpencerDirectorSale4,522$12.58$56.9KForm 4
Jan 15, 2026Halm JillianChief Accounting OfficerSale379$13.18$5.0KForm 4
Jan 12, 2026Halm JillianChief Accounting OfficerSale1,744$12.25$21.4KForm 4
Jan 12, 2026Campbell James DEVP Servicing Ops RoundPointSale1,692$12.39$21.0KForm 4
Jan 12, 2026BOUCHER NATHANEVP General Counsel RoundPointSale666$12.25$8.2KForm 4
Jan 9, 2026BOUCHER NATHANEVP General Counsel RoundPointSale601$12.37$7.4KForm 4
Dec 22, 2025Dellal WilliamChief Financial OfficerSale7,087$11.44$81.1KForm 4
Dec 19, 2025Sandberg Rebecca BChief Legal OfficerSale27,370$11.43$312.8KForm 4
Dec 19, 2025RUSH ROBERTChief Risk OfficerSale23,594$11.43$269.7KForm 4
Dec 19, 2025LETICA NICHOLASChief Investment OfficerSale55,488$11.42$633.7KForm 4
Dec 19, 2025HANSON ALECIAChief Administrative OfficerSale10,768$11.41$122.9KForm 4
Dec 19, 2025GREENBERG WILLIAM ROSSChief Executive OfficerSale103,893$11.42$1.2MForm 4
Aug 18, 2025LETICA NICHOLASChief Investment OfficerSale8,654$10.02$86.7KForm 4
May 16, 2025KASNET STEPHEN GDirectorSale12,129$11.97$145.2KForm 4
May 16, 2025Abraham SpencerDirectorSale3,641$11.98$43.6KForm 4
Feb 10, 2025Sandberg Rebecca BChief Legal OfficerSale2,561$12.96$33.2KForm 4
Feb 10, 2025RUSH ROBERTChief Risk OfficerSale2,392$12.96$31.0KForm 4
Feb 10, 2025HANSON ALECIAChief Administrative OfficerSale910$12.95$11.8KForm 4
Feb 10, 2025Halm JillianChief Accounting OfficerSale821$12.98$10.7KForm 4

All 106 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Sources

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