Company: TWO-PC
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001465740-25-000083
Chunk: 181

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 181
---
.As of both December 31, 2024 and December 31, 2023, the net carrying value of assets sold under agreements to repurchase, including accrued interest plus any cash or assets on deposit to secure the repurchase obligation, less the amount of the repurchase liability, including accrued interest, with any individual counterparty or group of related counterparties did not exceed 10% of total stockholders’ equity. The Company does not anticipate any defaults by its repurchase agreement counterparties. There can be no assurance, however, that any such default or defaults will not occur.

Note 14. Revolving Credit Facilities

To finance MSR assets and related servicing advance obligations, the Company has entered into revolving credit facilities collateralized by the value of the MSR and/or servicing advances pledged. As of December 31, 2024 and December 31, 2023, the Company had outstanding short- and long-term borrowings under revolving credit facilities of $1.0 billion and $1.3 billion with a weighted average borrowing rate of 7.56% and 8.66% and weighted average remaining maturities of 1.6 and 1.1 years, respectively.At December 31, 2024 and December 31, 2023, borrowings under revolving credit facilities had the following remaining maturities:(in thousands)December 31,2024December 31,2023Within 30 days$— $— 30 to 59 days— — 60 to 89 days— — 90 to 119 days— — 120 to 364 days— 324,300 One year and over1,020,171 1,004,871 Total$1,020,171 $1,329,171 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 December 31, 2024 and December 31, 2023, MSR with a carrying value of $1.6 billion and $2.2 billion, respectively, was pledged as collateral for the Company’s future payment obligations under its MSR revolving credit facilities. As of December 31, 2024 and December 31, 2023, servicing advances with a carrying value of $118.