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Two Harbors wins final OK for CrossCountry Mortgage merger
The deal values TWO at $12.00 per share in cash and adds a $0.20326 stub-period dividend for holders of record on Aug. 24.
Two Harbors Investment Corp. said it received final regulatory approval for its merger with CrossCountry Mortgage, setting up the REIT to become a wholly owned subsidiary of the retail lender.
The companies expect to close the transaction before market open on Aug. 25, 2026. Under the terms, TWO shareholders will receive $12.00 in cash for each share held before the effective time, along with a stub period dividend of $0.20326 for shareholders of record as of the close of business on Aug. 24, which the company said will not reduce the merger consideration.
Two Harbors is an MSR-focused REIT and a major conventional loan servicer through its RoundPoint Mortgage Servicing platform, which held a $158.89 billion owned servicing portfolio as of the first quarter, according to Inside Mortgage Finance. The related CCM servicing book was $202 billion in the same period.
HousingWire noted the transaction followed shareholder approval on July 2 after a bidding process that included a prior, ultimately abandoned all-stock proposal from United Wholesale Mortgage, which was expected to be its first acquisition. Two Harbors had previously reached an agreement with UWM in December 2025, but it exited when UWM’s share price fell, after which CCM emerged with an all-cash offer that was later increased to $12 per share with a dividend component.