Two Harbors reports Q3 EAD 36c, consensus 36c

“Excluding the litigation settlement expense, we had a strong quarter of performance, generating an adjusted total economic return of 7.6%,” said Bill Greenberg, TWO‘s President and Chief Executive Officer. “We also significantly increased our subservicing business at RoundPoint, selling a total of $30 billion UPB of MSR on a retained basis to a new subservicing client. We are also encouraged by the robust growth in our direct-to-consumer originations platform and emerging effectiveness of our recapture effort. Looking ahead, we now have a clean slate to capitalize on opportunities in the MSR and RMBS, and to further drive growth in our servicing and originations businesses.”