Company: TWO-PC
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001465740-25-000083
Chunk: 147

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 147
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270,700)$7,097,437 $(324,074)

78

Table of ContentsTWO HARBORS INVESTMENT CORP.Notes to the Consolidated Financial Statements

December 31, 2023Unrealized Loss Position forLess than 12 Months12 Months or MoreTotal(in thousands)Estimated Fair ValueGross Unrealized LossesEstimated Fair ValueGross Unrealized LossesEstimated Fair ValueGross Unrealized LossesAgency$6,269,848 $(199,276)$— $— $6,269,848 $(199,276)Non-Agency883 (173)— — 883 (173)Total$6,270,731 $(199,449)$— $— $6,270,731 $(199,449)Gross Realized Gains and LossesGains and losses from the sale of AFS securities are recorded as realized gains (losses) within loss on investment securities in the Company’s consolidated statements of comprehensive income (loss). The following table presents details around sales of AFS securities during the years ended December 31, 2024, 2023 and 2022:Year EndedDecember 31,(in thousands)202420232022Proceeds from sales of available-for-sale securities$2,183,330 $2,673,827 $7,793,705 Amortized cost of available-for-sale securities sold(2,222,634)(2,792,703)(8,359,967)Total realized losses on sales, net$(39,304)$(118,876)$(566,262)Gross realized gains$2,426 $16,285 $40,574 Gross realized losses(41,730)(135,161)(606,836)Total realized losses on sales, net$(39,304)$(118,876)$(566,262)

Note 6. Servicing Activities

Mortgage Servicing Rights, at Fair ValueOne of the Company’s 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,