Company: TWO-PC
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0001465740-25-000152
Chunk: 147

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-10-28
Form: 10-Q
Item: Item 2
Chunk 147
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, typically within 60 days of origination. Additionally, in May 2025, we issued senior notes due in 2030, which are unsecured and pay interest quarterly at a rate of 9.375% per annum. Finally, our convertible senior notes due January 2026 are unsecured and pay interest semiannually at a rate of 6.25% per annum.

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At September 30, 2025, borrowings under repurchase agreements, revolving credit facilities, warehouse lines of credit, senior notes and convertible senior notes had the following characteristics:

(dollars in thousands)September 30, 2025Borrowing TypeAmount OutstandingWeighted Average Borrowing RateWeighted Average Years to MaturityRepurchase agreements$7,104,650 4.61 %0.3 Revolving credit facilities945,371 7.23 %1.4 Warehouse lines of credit8,452 6.38 %0.2 Senior notes110,866 9.38 %4.9 Convertible senior notes261,370 6.25 %0.3 Total$8,430,709 5.02 %0.5 

(dollars in thousands)September 30, 2025Collateral TypeAmount OutstandingWeighted Average Borrowing RateWeighted Average Haircut on Collateral ValueAgency RMBS$6,256,604 4.29 %3.6 %Agency Derivatives106,542 4.69 %16.0 %Mortgage servicing rights1,610,871 7.30 %30.6 %Mortgage servicing advances72,500 6.87 %13.4 %Mortgage loans held-for-sale11,956 6.35 %0.4 %Other (1)372,236 7.18 %N/ATotal$8,430,709 5.02 %8.8 %

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(1)Includes unsecured borrowings under senior notes and convertible senior notes. The senior notes are due August 2030, paying interest quarterly at a rate of 9.375% per annum on the aggregate principal amount, which was $115.0 million on September 30, 2025. The convertible senior notes are due January 2026, paying interest semiannually at a rate of 6.25% per annum on the aggregate principal