Company: TWO-PC
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001465740-25-000140
Chunk: 27

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 2
Chunk 27
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ed Average Coupon RateWeighted Average Purchase PriceP&I securities$8,378,925 $28,697 $8,407,622 $— $28,749 $(140,569)$8,295,802 5.30 %$101.24 Interest-only securities390,314 25,111 25,111 (1,894)528 (2,239)21,506 2.05 %$27.18 Total$8,769,239 $53,808 $8,432,733 $(1,894)$29,277 $(142,808)$8,317,308 

Mortgage Servicing Rights, at Fair Value

One of our wholly owned subsidiaries, TH MSR Holdings, has approvals from Fannie Mae and Freddie Mac to own and manage MSR, which represent the right to control the servicing of residential mortgage loans. TH MSR Holdings acquires MSR from third-party originators through flow and bulk purchases, as well as through the recapture of MSR on loans in its MSR portfolio that refinance. Beginning in 2024, TH MSR Holdings also acquires MSR on loans originated by its subsidiary, RoundPoint, through purchases and recapture of MSR. As of both June 30, 2025 and December 31, 2024, our MSR had a fair market value of $3.0 billion.

As of June 30, 2025, our MSR portfolio included MSR on 805,261 loans with an unpaid principal balance of approximately $198.8 billion. The following table summarizes certain characteristics of the loans underlying our MSR by gross weighted average coupon rate types and ranges at June 30, 2025:

June 30, 2025(dollars in thousands)Number of LoansUnpaid Principal BalanceWeighted Average Gross Coupon RateWeighted Average Current Loan SizeWeighted Average Loan Age (months)Weighted Average Original FICOWeighted Average Original LTV60+ Day Delinquencies3-Month CPRNet Servicing Fee (bps)30-Year Fixed:≤ 3.25%287,813 $86,951,024 2.8 %$358 53 768 71.0 %0.4 %4.7 %25.1 > 3.25 - 3.75%141,331 35,098,164 3.4 %316 65 753 74