Company: TWO-PC
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0001465740-25-000152
Chunk: 49

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-10-28
Form: 10-Q
Item: Item 1
Chunk 49
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 these liabilities as Level 1.•Convertible senior notes are carried at their unpaid principal balance, net of any unamortized deferred issuance costs. The Company estimates the fair value of its convertible senior notes using the market transaction price nearest to September 30, 2025. The Company categorizes the fair value measurement of these liabilities as Level 2.

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

The following table presents the carrying values and estimated fair values of assets and liabilities that are required to be recorded or disclosed at fair value at September 30, 2025 and December 31, 2024:September 30, 2025December 31, 2024(in thousands)Carrying ValueFair ValueCarrying ValueFair ValueAssets:Available-for-sale securities$6,348,157 $6,348,157 $7,371,711 $7,371,711 Mortgage servicing rights$2,626,706 $2,626,706 $2,994,271 $2,994,271 Mortgage loans held-for-sale$12,635 $12,635 $2,334 $2,334 Cash and cash equivalents$770,533 $770,533 $504,613 $504,613 Restricted cash$116,388 $116,388 $313,028 $313,028 Derivative assets$135,431 $135,431 $10,114 $10,114 Reverse repurchase agreements$158,135 $158,135 $355,975 $355,975 Other assets$31,283 $31,283 $31,283 $31,283 Liabilities:Repurchase agreements$7,104,650 $7,104,650 $7,805,057 $7,805,057 Revolving credit facilities$945,371 $945,371 $1,020,171 $1,020,171 Warehouse lines of credit$8,452 $8,452 $2,032 $2,032 Senior notes$110,866 $117,530 $— $— Convertible senior notes$261,370 $258,007 $260,229 $259,241 Derivative liabilities$7,