---
schema_version: "secwatch.filing_event.v1"
accession: "0001465740-25-000100"
form_type: "8-K"
ticker: "TWO"
cik: "0001465740"
company_name: "TWO HARBORS INVESTMENT CORP."
filed_at: "2025-04-28T23:59:59+00:00"
generated_at: "2026-05-23T04:54:19.722032+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Two Harbors reports Q1 comprehensive income $64.9M ($0.62/share); book value $14.66; GAAP net loss $92.2M

## Summary
- Book value per common share $14.66, up from $14.47 at Dec 2024; quarterly dividend $0.45 (4.4% economic return).
- Comprehensive income $64.9M vs loss $1.6M in Q4 2024; GAAP net loss $92.2M ($0.89) vs income $264.9M ($2.54).
- Earnings available for distribution (non-GAAP) $25.1M ($0.24) vs $21.2M ($0.20) in Q4.
- Settled $174.9M UPB of MSR via flow acquisitions; post-quarter committed to $1.7B UPB via two bulk deals.
- MSR 60+ day delinquencies 0.85% (up from 0.69%); 3-month CPR 4.2% vs 3.9% year ago.

## SEC filing metadata
- accession: 0001465740-25-000100
- form_type: 8-K
- ticker: TWO
- cik: 0001465740
- company_name: TWO HARBORS INVESTMENT CORP.
- filed_at: 2025-04-28T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1465740/000146574025000100/0001465740-25-000100-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1465740/000146574025000100/two-20250428.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001465740-25-000100
- JSON: https://secwatch.observer/filing/0001465740-25-000100.json
- Plain text: https://secwatch.observer/filing/0001465740-25-000100.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.