Two Harbors Investment Corp. Q3 2025 Financial Results

Two Harbors Investment Corp. (NYSE: TWO) reported its financial results for the third quarter of 2025. The company announced a comprehensive loss of $80.2 million, or $0.77 per weighted average basic common share. This loss includes a litigation settlement expense of $175.1 million related to a settlement with the company’s former external manager. Excluding this expense, the company generated comprehensive income of $94.9 million, or $0.91 per weighted average basic common share. The company’s book value per common share was $11.04, and it declared a third quarter common stock dividend of $0.34 per share. The economic return on book value was (6.3)%, but excluding the litigation settlement expense, it was 7.6%. The company’s portfolio included $9.1 billion of Agency RMBS, MSR, and other investment securities, with a total portfolio value of $13.5 billion. The company also highlighted its strong performance in its subservicing business and direct-to-consumer originations platform.