Company: TWO-PC
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0001465740-25-000104
Chunk: 18

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 1
Chunk 18
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 to absorb losses or the right to receive benefits of the entities that could be significant, the Company is the primary beneficiary and, thus, consolidates the trusts. Additionally, in accordance with arrangements entered into in connection with the securitization transaction and the servicing advance revolving credit facility, the Company has direct financial obligations payable to both MSR Issuer Trust and Servicing Advance Receivables Issuer Trust, which, in turn, support MSR Issuer Trust’s obligations to noteholders under the securitization transaction and Servicing Advance Receivables Issuer Trust’s obligations to the financing counterparty.The following table presents a summary of the assets and liabilities of all consolidated trusts as reported on the consolidated balance sheets as of March 31, 2025 and December 31, 2024:(in thousands)March 31,2025December 31, 2024Restricted cash$58,566 $44,631 Other assets112,894 118,686 Total Assets$171,460 $163,317 Revolving credit facilities$103,300 $90,300 Accrued interest payable647 560 Other liabilities57,919 44,071 Total Liabilities$161,866 $134,931 

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

The Company holds both Agency and non-Agency available-for-sale, or 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 March 31, 2025 and December 31, 2024:(in thousands)March 31,2025December 31, 2024Agency:Federal National Mortgage Association$5,165,128 $4,764,502 Federal Home Loan Mortgage Corporation3,210,104 2,505,390 Government National Mortgage Association228,025 98,085 Non-Agency3,613 3,734 Total available-for-sale securities$8,606,870 $7,371,711 At March 31, 2025 and December 31, 2024, the Company pledged AFS securities with a carrying value of $8.6 billion and $7.1 billion, respectively, as collateral for repurchase agreements. See Note 13 - Repurchase Agreements.

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Table of ContentsTWO HARBORS INVESTMENT CORP.Notes to the Consolid