Real Estate M&A » By The Online Investor Staff, updated Tue., Mar. 19, 1:02 AM Recent mergers and acquisitions in the Real Estate M&A category.
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Slide #62. Two Harbors Investment Corp. — Federal National Mortgage Association
Acquirer:
Two Harbors Investment Corp. (NYSE:TWO)
Acquiree:
Federal National Mortgage Association
Details:
Two Harbors Investment Corp. (NYSE:TWO) announced today that one of its wholly-owned subsidiaries has acquired a company which has approvals from the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation, (Freddie Mac) and the Government National Mortgage Association (Ginnie Mae) to hold and manage mortgage servicing rights (MSRs). The company will discuss the implications of this acquisition in greater length on its first quarter earnings conference call, which is scheduled for 9:00 a.m. EST on Wednesday, May 8, 2013.
Two Harbors Investment is a holding company. Through its subsidiaries, Co. operates as a real estate investment trust (REIT) focused on investing in, financing and managing Agency residential mortgage-backed securities (Agency RMBS), mortgage servicing rights (MSR), and other financial assets, which it collectively refers to as its target assets. Co. is externally managed and advised by PRCM Advisers LLC, a wholly-owned subsidiary of Pine River Capital Management L.P. Co.'s portfolio includes assets that are primarily sensitive to changes in interest rates, prepayments and mortgage spreads, including but not limited to Agency RMBS, MSR and related hedging transactions.
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Preferreds: TWO.PRD, TWO.PRE, TWO.PRA, TWO.PRB, TWO.PRC
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Hold (2.50 out of 4) 4th percentile
(ranked lower than approx. 96% of all stocks covered)
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