Two Harbors Investment Corp. Urges Stockholders to Support CCM Transaction
On June 22, 2026, Two Harbors Investment Corp. (NYSE: TWO) made a crucial appeal to its stockholders regarding the impending acquisition by CrossCountry Mortgage, LLC (CCM). The company emphasizes the importance of voting in favor of the transaction, highlighting the potential risks associated with a failure to approve it.
1. The Stakes of the CCM Transaction
In the wake of the Special Meeting of stockholders, TWO has presented a clear choice: accept the CCM transaction offering $12.00 per share in cash or face the potential for a significant decline in the value of TWO’s common stock. The Board of Directors has unanimously recommended that stockholders vote 'FOR' the CCM transaction using the WHITE proxy card.
The urgency of this decision is underscored by the statement that should stockholders reject the CCM offer, there is no indication that a better proposal will surface. The company conveyed that they reached out to United Wholesale Mortgage Company (UWMC) to discuss any alternative proposals that could address ongoing concerns, but UWMC has not provided any constructive feedback or proposals during the negotiation window.
2. Declining Stock Performance of UWMC
Highlighting the volatility in the market, TWO pointed out the sharp decline in UWMC's share price, which has fallen over 50% since December 2025. As of June 18, 2026, UWMC’s stock closed at an all-time low of $2.22 per share. This decline raises doubts about UWMC’s viability as a counterparty in any potential acquisition discussions, especially as they proposed to use their own stock as consideration for acquiring TWO. At the current UWMC stock price, stockholders could find themselves receiving equity worth only $5.18 per TWO share, approximately 41% less than the headline offer from CCM.
3. Advantages of the CCM Deal
Should the stockholders approve the CCM transaction, the deal promises not just $12.00 per share in cash but also a pro-rated stub dividend estimated at $0.23, assuming the transaction closes by the end of August 2026. The approval process for the transaction is progressing well, with TWO already securing 47 out of the required 53 regulatory approvals and achieving early termination of the Hart-Scott-Rodino waiting period.
The Board’s recommendation reflects a commitment to protecting stockholder interests by providing a guaranteed and stable return, contrasting sharply with the uncertainty associated with UWMC's stock.
4. Urgent Call to Action
TWO is urging stockholders who have not yet cast their votes to do so without delay to safeguard their investments. The decision to support the CCM transaction is framed as a proactive measure against potential value destruction for stockholders.
In conclusion, the situation presents a pivotal moment for TWO’s stockholders, with the outcome of the Special Meeting poised to significantly impact their investments in the coming months. The Board’s unanimous recommendation to vote “FOR” the CCM transaction signals a strategic move towards financial stability and growth.
About Two Harbors Investment Corp.
Two Harbors Investment Corp. is a Maryland-based real estate investment trust (REIT) that focuses on investments in mortgage servicing rights, residential mortgage-backed securities, and other financial assets. The company actively seeks to optimize returns for its stockholders while navigating the complexities of the mortgage and real estate markets.
As stockholders prepare to make their decision, the implications of voting in favor of or against the transaction with CCM could reverberate through the company and its market valuation for years to come.
