Company: TWO-PC
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001465740-25-000083
Chunk: 143

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 143
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 all consolidated trusts as reported on the consolidated balance sheets as of December 31, 2024 and December 31, 2023:(in thousands)December 31,2024December 31,2023Note receivable (1)$— $399,317 Restricted cash44,631 45,642 Accrued interest receivable (1)— 551 Other assets118,686 79,749 Total Assets$163,317 $525,259 Term notes payable$— $399,317 Revolving credit facilities90,300 34,300 Accrued interest payable560 816 Other liabilities44,071 45,377 Total Liabilities$134,931 $479,810 ____________________(1)Receivables due from a wholly owned subsidiary of the Company to the trusts are eliminated in consolidation in accordance with U.S. GAAP.

Note 5. Available-for-Sale Securities, at Fair Value

The Company holds both Agency and non-Agency AFS investment securities which are carried at fair value on the consolidated balance sheets. The following table presents the Company’s AFS investment securities by collateral type as of December 31, 2024 and December 31, 2023:(in thousands)December 31,2024December 31,2023Agency:Federal National Mortgage Association$4,764,502 $5,467,684 Federal Home Loan Mortgage Corporation2,505,390 2,790,662 Government National Mortgage Association98,085 64,653 Non-Agency3,734 4,150 Total available-for-sale securities$7,371,711 $8,327,149 At December 31, 2024 and December 31, 2023, the Company pledged AFS securities with a carrying value of $7.1 billion and $8.1 billion, respectively, as collateral for repurchase agreements. See Note 13 - Repurchase Agreements.At December 31, 2024 and December 31, 2023, the Company did not have any securities purchased from and financed with the same counterparty that did not meet the conditions of ASC 860, Transfers and Servicing, to be considered linked transactions and, therefore, classified as derivatives.The Company is not required to consolidate VIEs for which it has concluded it does not have both the power to direct the activities of the VIEs that most significantly impact