Two Harbors Investment Corp. operates as a real estate investment trust that focuses on investing in, financing, and managing residential mortgage-backed securities, mortgage servicing rights, commercial real estate assets, and other financial assets. The Company's target assets include agency RMBS collateralized by fixed rate mortgage loans, adjustable rate mortgage loans, hybrid mortgage loans, or derivatives, and non-agency RMBS collateralized by prime mortgage loans, Alt-A mortgage loans, pay-option ARM mortgage loans, and subprime mortgage loans. Its target assets also comprise floating and fixed rate commercial real estate loans, and other assets, such as financial and mortgage-related assets, as well as residential mortgage loans and certain non-hedging transactions.