REIT Two Harbors Makes Play For Mortgage Servicing Rights

Law360, New York (May 08, 2013, 9:38 PM ET) -- Real estate investment trust Two Harbors Investment Corp. said Wednesday that it would use the acquisition of a small mortgage servicer to expand into what is quickly becoming a hot corner of the market as big banks shed their servicing portfolios.

Two Harbors paid an undisclosed sum for Matrix Financial Services Corp., which already has federal approvals to hold mortgage servicing rights, or contracts to collect and process loan payments on behalf of the loan’s owner. With only 10 employees and few assets, Matrix is essentially...
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