Company: TWO-PC
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0001465740-25-000104
Chunk: 153

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 8
Chunk 153
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 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, respectively, were pledged as collateral for the Company’s future payment obligations under its servicing advance revolving credit facility. The Company does not anticipate any defaults by its revolving credit facility counterparties, although there can be no assurance that any such default or defaults will not occur.

Note 15. Warehouse Facilities

To finance origination activities, the Company has entered into a warehouse facility collateralized by the value of the mortgage loans pledged for a period of up to 90 days or until they are sold to the GSEs or other third-party investors in the secondary market, typically within 60 days of origination. As of March 31, 2025 and December 31, 2024, the Company had outstanding short-term borrowings under its warehouse facility of $8.0 million and $2.0 million with a weighted average borrowing rate of 6.36% and 6.64% and weighted average remaining maturities of 76 and 87 days, respectively. At March 31, 2025 and December 31, 2024, borrowings under the Company’s warehouse facility had the following remaining maturities:(in thousands)March 31,2025December 31, 2024Within 30 days$495 $— 30 to 59 days1,096 — 60 to 89 days6,380 2,032 90 to 119 days— — 120 to 364 days— — One year and over— — Total$7,971 $2,032 Although the transactions under warehouse facilities represent committed borrowings from the time of funding until maturity, the respective lender retains the right