Company: TWO-PC
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0001465740-25-000104
Chunk: 199

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 8
Chunk 199
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$302,140 $47,860 $150,000 $500,000 Mortgage servicing rights (3)May 22, 2026$475,000 $— $75,000 $550,000 Mortgage servicing rights (4)October 26, 2026$170,000 $— $130,000 $300,000 Mortgage servicing rights (4)November 21, 2025$125,000 $— $175,000 $300,000 Mortgage servicing rights (4)June 14, 2026$103,300 $46,700 $— $150,000 Mortgage servicing advancesAugust 19, 2025$7,971 $27,029 $— $35,000 Mortgage loans held-for-sale

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(1)The facilities are set to mature on the stated expiration date, unless extended pursuant to their terms.

(2)Represents unused capacity amounts to which commitment fees are charged.

(3)The revolving period of this facility ceases on March 8, 2026, at which time the facility starts a 12-month amortization period.

(4)These repurchase facilities are secured by the related VFNs issued by TH MSR Issuer Trust and collateralized by portions of our MSR portfolio.

We are subject to a variety of financial covenants under our lending agreements. The following represent the most restrictive financial covenants across our lending agreements as of March 31, 2025:

•Total indebtedness to tangible net worth must be less than 8.0:1.0. As of March 31, 2025, our total indebtedness to tangible net worth, as defined, was 5.3:1.0.

•Cash liquidity must be greater than $200.0 million. As of March 31, 2025, our liquidity, as defined, was $573.9 million.

•Net worth must be greater than the higher of $1.5 billion or 50% of the highest net worth during the 24 calendar months prior. As of March 31, 2025, 50% of the highest net worth during the 24 calendar months prior, as defined, was $1.1 billion and our net worth, as defined, was $2.1 billion.

We are also subject to