Company: TWO-PC
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0001465740-25-000104
Chunk: 121

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 8
Chunk 121
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 Unrealized LossesEstimated Fair ValueGross Unrealized LossesAgency$2,333,179 $(12,199)$3,375,780 $(170,256)$5,708,959 $(182,455)Non-Agency— — — — — — Total$2,333,179 $(12,199)$3,375,780 $(170,256)$5,708,959 $(182,455)December 31, 2024Unrealized Loss Position forLess than 12 Months12 Months or MoreTotal(in thousands)Estimated Fair ValueGross Unrealized LossesEstimated Fair ValueGross Unrealized LossesEstimated Fair ValueGross Unrealized LossesAgency$3,252,413 $(53,374)$3,845,019 $(270,700)$7,097,432 $(324,074)Non-Agency5 — — — 5 — Total$3,252,418 $(53,374)$3,845,019 $(270,700)$7,097,437 $(324,074)

10

Table of ContentsTWO HARBORS INVESTMENT CORP.Notes to the Consolidated Financial Statements (unaudited)

Gross Realized Gains and LossesGains and losses from the sale of AFS securities are recorded as realized gains (losses) within loss on investment securities in the Company’s consolidated statements of comprehensive income (loss). The following table presents details around sales of AFS securities during the three months ended March 31, 2025 and 2024:Three Months EndedMarch 31,(in thousands)20252024Proceeds from sales of available-for-sale securities$1,329,584 $333,082 Amortized cost of available-for-sale securities sold(1,363,060)(343,245)Total realized losses on sales, net$(33,476)$(10,163)Gross realized gains$5,316 $— Gross realized losses(38,792)(10,163)Total realized losses on sales, net$(33,476)$(10,163)

Note 6. Servicing Activities

Mortgage Servicing Rights, at Fair ValueOne of the Company’s wholly owned subsidiaries, TH MSR Holdings, has approvals from Fannie Mae and Freddie Mac to own and manage MSR, which represent the right to control the servicing of residential mortgage loans. TH