Key Highlights

  • Two Harbors Investment Corp. (NYSE:TWO) appeared on an October 26, 2026 earnings board with a Q3 slot, but the company was acquired by CrossCountry Mortgage and stopped trading on the NYSE in August 2026.
  • CrossCountry paid USD 12 per share in cash plus a stub dividend of USD 0.20326, about USD 1.26 billion in merger consideration on roughly 105.13 million shares.
  • CrossCountry's bid rose from USD 10.80 in March to USD 11.30 in April and USD 12 in May, beating a rival proposal from UWM Holdings (NYSE:UWMC).
  • Two Harbors owned a mortgage servicing portfolio of about USD 155 billion, which CrossCountry combined with its USD 209 billion book, about USD 364 billion in total by simple addition.

A Stale Entry on the Calendar

A market data page still listed Two Harbors with a third-quarter 2026 report scheduled after the close on October 26, 2026 and a consensus of USD 0.30, but the company no longer has public shares. CrossCountry Mortgage announced completion of the merger in late August 2026, final regulatory approval came on August 21, and the common stock stopped trading on the NYSE. Two Harbors Investment Corp. (NYSE:TWO) survives as a wholly owned CrossCountry subsidiary, and all eight pre-merger directors left the board. Its last public results were for the second quarter, reported on July 28, 2026, so the calendar entry cannot be a results event.

How the Deal Was Won

Two Harbors, a mortgage real estate investment trust that holds mortgage servicing rights and owns the servicer RoundPoint, drew a bidding contest. CrossCountry offered USD 10.80 per share in March, USD 11.30 in April and USD 12 in May. UWM Holdings proposed USD 12.00 in cash or stock, but the Two Harbors board rejected it on May 4, 2026, citing financing, closing, business and credibility risks, including a bridge facility conditional on due diligence. Stockholders approved the CrossCountry deal. CrossCountry agreed to pay UWM a termination fee of about USD 25.4 million. After closing, the company redeemed its preferred stock and moved to retire its 9.375% senior notes.

Litigation and What Remains

In August 2026, UWM sued Two Harbors in the U.S. District Court for the District of Maryland, seeking more than USD 500 million in damages and alleging willful breach of the merger agreement and fraud. Two Harbors has rejected the allegations in court filings and public statements. The case is the main open issue, and the outcome is uncertain, so no outcome should be assumed. For readers, the practical point is that Two Harbors (NYSE:TWO) is no longer a tradable stock, so any quote or earnings estimate on a stale page should be disregarded. CrossCountry has said it plans to bring servicing in-house, and combined servicing of roughly USD 364 billion makes it a larger player.

Where Things Stand

The answer is that Two Harbors is on the board only because a data page was not updated: CrossCountry Mortgage acquired the company for USD 12 per share in cash in a deal worth about USD 1.26 billion, and the stock was delisted in August 2026. The company will not report third-quarter results as a public issuer. The remaining open item is the USD 500 million suit by UWM, which Two Harbors rejects. Two Harbors (NYSE:TWO) is no longer investable. This is not investment advice.