NEW YORK - Two Harbors (NYSE:TWO) Investment Corp. (NYSE:TWO), a real estate investment trust specializing in mortgage servicing rights and residential mortgage-backed securities, has announced key executive appointments, strengthening its leadership team. James Campbell joins as Head of Servicing at the company's subsidiary RoundPoint Mortgage Servicing LLC, and Chris Hurley takes on the role of Chief Technology Officer.
Campbell brings over 30 years of experience in the financial services and mortgage servicing industry, having most recently overseen all servicing and subservicing relationships as Head of Servicing at Flagstar Bank. His background includes positions at Caliber Home Loans Inc., Deutsche Bank (ETR:DBKGn), and Credit Suisse (SIX:CSGN), where he contributed to asset management and RMBS portfolios.
Hurley steps into his new position with two decades of expertise in managing technology platforms within the financial services sector. His past roles include SVP, Head of Servicing Technology at Newrez/Shellpoint Mortgage Servicing, and IT leadership positions at Shellpoint Partners and C-BASS LLC.
"We're pleased to welcome James and Chris to our team," said Bill Greenberg, President and CEO of Two Harbors. "The experience that James and Chris bring to our team is valuable as we leverage our operational business."
These appointments come as Two Harbors continues to focus on enhancing its operational capabilities and strategic growth within the mortgage servicing industry. The announcement reflects the company's commitment to leadership and innovation in servicing mortgage and financial assets.
This leadership update is based on a press release statement from Two Harbors Investment Corp .
"In other recent news, Two Harbors Investment Corp. reported its financial results for the second quarter of 2024, revealing a stable economic return and a book value of $15.19 per share. The company's portfolio was valued at $16 billion with a leverage of 6.8 times. Amidst these results, the company announced executive shifts, including the retirement of CFO Mary Riskey and the appointment of William Dellal as interim CFO. Furthermore, Blake Johnson has been named the Acting Chief Accounting Officer. These appointments come amidst a period of increased market volatility and rising interest rates. Despite these challenging conditions, Two Harbors managed its exposure, adjusting positions between specified pools and TBAs. Analysts anticipate a potential decline in market volatility and a tightening of spreads in a lower interest rate environment, indicating optimism for the company's future investment returns."
InvestingPro Insights
Amidst the strategic bolstering of its leadership team, Two Harbors Investment Corp. (NYSE:TWO) demonstrates a solid financial foundation and offers enticing prospects for investors. With a remarkable Gross Profit Margin of 89.7% over the last twelve months as of Q2 2024, the company clearly showcases its efficiency in managing its operations and generating income from its revenue. This is further complemented by an Operating Income Margin of 30.32%, which points to a strong grip on operational expenses relative to its peers.
Investors seeking income-generating assets will note that Two Harbors has a substantial Dividend Yield of 12.77%, as of the latest data, which is particularly impressive in the current market environment. This is supported by the company's history of maintaining dividend payments for 16 consecutive years, an InvestingPro Tip that underscores its commitment to returning value to shareholders. For those interested in the dividend's sustainability, it's worth noting that Two Harbors is poised to be profitable this year, another positive signal for dividend continuity.
Moreover, the company's stock is trading near its 52-week high, at 96.64% of the peak value, reflecting investor confidence and market optimism about its prospects. For those looking to delve deeper into the company's financials and future outlook, additional InvestingPro Tips are available, offering insights into metrics such as net income expectations and earnings revisions by analysts.
For a more comprehensive analysis and further InvestingPro Tips, investors can explore Two Harbors Investment Corp. on InvestingPro at https://www.investing.com/pro/TWO, where a total of 11 additional tips are listed, providing a detailed investment perspective.
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