Company: TWO-PC
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0001465740-25-000104
Chunk: 53

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 1
Chunk 53
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 sold under agreements to repurchase, including accrued interest plus any cash or assets on deposit to secure the repurchase obligation, less the amount of the repurchase liability, including accrued interest, with any individual counterparty or group of related counterparties did not exceed 10% of total stockholders’ equity. The Company does not anticipate any defaults by its repurchase agreement counterparties. There can be no assurance, however, that any such default or defaults will not occur.

Note 14. Revolving Credit Facilities

To finance MSR assets and related servicing advance obligations, the Company has entered into revolving credit facilities collateralized by the value of the MSR and/or servicing advances pledged. As of March 31, 2025 and December 31, 2024, the Company had outstanding short- and long-term borrowings under revolving credit facilities of $933.2 million and $1.0 billion with a weighted average borrowing rate of 7.45% and 7.56% and weighted average remaining maturities of 1.3 and 1.6 years, respectively.

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

At March 31, 2025 and December 31, 2024, borrowings under revolving credit facilities had the following remaining maturities:(in thousands)March 31,2025December 31, 2024Within 30 days$— $— 30 to 59 days— — 60 to 89 days— — 90 to 119 days— — 120 to 364 days— — One year and over933,171 1,020,171 Total$933,171 $1,020,171 Although the transactions under revolving credit facilities represent committed borrowings from the time of funding until maturity, the respective lender retains the right to mark the underlying collateral to fair value. A reduction in the value of pledged assets below a designated threshold would require the Company to provide additional collateral or pay down the facility. As of both March 31, 2025 and December 31, 2024, MSR with a carrying value of $1.6 billion was pledged as collateral for the Company’s future payment obligations under its MSR revolving credit facilities. As of March 31, 2025 and December 31, 2024, servicing advances with a carrying value of $112.9 million and $118.7 million,