The stub dividend will be paid to holders of record as of the last trading day immediately before the effective time of the merger. “The stub dividend will not reduce or otherwise affect the merger consideration payable to holders of TWO common stock,” the company stated in the filing. 7 overall lender and the top distributed retail mortgage lender, according to industry rankings. It also subservices about $40 billion in loans through its servicing arm, RoundPoint Mortgage Servicing LLC, which it acquired in 2023. Two Harbors also has a small direct-to-consumer origination business, launched in 2024 to support recapture of existing customers.