CrossCountry Mortgage entered a definitive agreement to acquire Two Harbors Investment Corp. for $10.80 per share in cash.
Two Harbors terminated its prior merger agreement with UWM Holdings Corp. originally announced in December 2025.
CrossCountry will pay a $25.4 million termination fee to UWM on behalf of Two Harbors.
The Two Harbors board of directors unanimously approved the transaction.
The deal is expected to close in the second half of 2026 pending stockholder and regulatory approvals.
Two Harbors will delist from the NYSE and become a wholly-owned subsidiary of CrossCountry upon closing.