TWO and CrossCountry Mortgage Announce Definitive Merger Agreement
Business Wire • • business
Key Points:
- CrossCountry Mortgage (CCM) will acquire all outstanding shares of Two Harbors Investment Corp. (TWO) common stock for $10.80 per share in cash, following a definitive merger agreement.
- TWO has terminated its prior merger agreement with UWM Holdings Corporation and agreed to pay a $25.4 million termination fee to UWM; the previously scheduled stockholder meeting to approve the UWM merger has been canceled.
- The merger combines CCM’s leading retail mortgage origination platform with TWO’s mortgage servicing rights portfolio and RoundPoint’s servicing platform, creating an integrated mortgage company covering origination through servicing.
- The transaction, approved unanimously by TWO’s board, is expected to close in the second half of 2026, subject to stockholder and regulatory approvals, after which TWO will be delisted and become a wholly owned subsidiary of CCM.
- TWO will continue paying regular quarterly dividends until closing, and holders of TWO’s preferred stock will have their shares redeemed at $25 per share plus accrued dividends post-merger.
