Housing shouldn’t look at any color but the color of money

Housing shouldn’t look at any color but the color of money

People with bad credit and bad habits should be squeezed out of housing

Who is Nat Hardwick?

Former LandCastle Title CEO owns NASCAR team, rubs elbows with PGA pros

Lawsuit alleges former LandCastle Title CEO embezzled $30 million

Nat Hardwick allegedly used funds for private jets, gambling
W S
Investments

Two Harbors records $76.4 million 4Q earnings

Profits lifted by key MSR purchases

stock2

Real estate investment trust Two Harbors Investment Corp. (TWO) recorded a core earnings for the fourth quarter of $76.4 million, or 21 cents per share, compared to $67.7 million, or 19 cents per share, the previous quarter.

“Two Harbors delivered strong return on book value of 10.4% in 2013 despite a challenging backdrop, which is a testament to our portfolio management and risk mitigation strategies,” said Thomas Siering, Two Harbors’ president and CEO.

“Importantly, we also reported significant achievements related to our new investment initiatives this year, which we believe will create franchise value and drive attractive long-term returns for our stockholders,” Siering added.

The company posted a net realized gain on residential mortgage-backed securities and mortgage loans held-for-sale of $98.6 million, in addition to reporting unrealized losses on trading securities, mortgage loan forward purchase commitments and mortgage loans held-for-sale of $6.2 million.

Back in December, the company completed a bulk acquisition of mortgage-servicing rights from Flagstar Bank (FBC), and initiated a flow sale arrangement with PHH Mortgage Corporation to acquire MSR on newly originated residential mortgage loans.

Recent Articles by Brena Swanson

Comments powered by Disqus