TWO - Servicing Drives Two Harbors Investment But Risks Remain
Last year was awful for the mortgage space. As the Federal Reserve hiked interest rates , mortgage origination companies saw volumes collapse. Mortgage real estate investment trusts (REITs) saw the assets in their portfolios take a beating. Most mortgage REITs saw big declines in book value per share, and many were forced to cut their dividends.
Two Harbors Investment (NYSE: TWO) was one of the REITs that cut its dividend. That said, the worst might be over for the space.
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Servicing Drives Two Harbors Investment, But Risks Remain