Company: TWO-PC
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0001465740-25-000152
Chunk: 96

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-10-28
Form: 10-Q
Item: Item 1
Chunk 96
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, 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 September 30, 2025 and December 31, 2024, our MSR had a fair market value of $2.6 billion.

As of September 30, 2025, our MSR portfolio included MSR on 720,038 loans with an unpaid principal balance of approximately $175.8 billion. The following table summarizes certain characteristics of the loans underlying our MSR by gross weighted average coupon rate types and ranges at September 30, 2025:

September 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%258,318 $76,737,086 2.8 %$352 56 768 71.5 %0.5 %4.6 %25.1 > 3.25 - 3.75%124,093 30,363,738 3.4 %313 69 753 74.1 %1.0 %5.8 %25.2 > 3.75 - 4.25%82,509 15,949,820 3.9 %258 94 752 75.4 %1.2 %6.4 %25.3 > 4.25 - 4.75%49,860 8,784,585 4.4 %255 90 739 77.3 %1.9 %6.5 %25.2 > 4.75 - 5.25%36,003 8,407,126 5.0 %352 57 748 79.0 %1.7 %7.1 %25.2 > 5.25%63,