On March 27, 2026, Two Harbors Investment Corp. (NYSE: TWO) announced that it has entered into a definitive merger agreement with CrossCountry Intermediate Holdco, LLC, an affiliate of CrossCountry Mortgage, LLC. Under the terms of the agreement, Two Harbors stockholders will receive $10.80 in cash for each share of common stock they own. This transaction marks a significant strategic move for Two Harbors, which focuses on mortgage servicing rights and residential mortgage-backed securities. The merger is expected to create a fully integrated mortgage company, combining CrossCountry's retail mortgage origination capabilities with Two Harbors' servicing platform. The merger agreement has been unanimously approved by the Two Harbors Board of Directors, which has recommended that stockholders vote in favor of the transaction. The completion of the merger is subject to customary closing conditions, including stockholder approval and regulatory clearances. Following the merger, Two Harbors will become a wholly owned subsidiary of CrossCountry, and its common stock will be delisted from the New York Stock Exchange. Additionally, Two Harbors has terminated its prior merger agreement with UWM Holdings Corporation, agreeing to pay a termination fee of $25.4 million. This strategic shift is anticipated to enhance operational efficiencies and drive higher customer retention, ultimately benefiting stockholders.

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