Two Harbors Investment Corp., one of the few regular sponsors of private-label mortgage securitization post-financial crisis, is pulling out of the market.

The real estate investment trust said Thursday that its board of directors has approved a plan to discontinue the mortgage loan conduit and securitization business. In a press release, the company cited the “challenging market environment,” and a desire to “reduce operating complexity and costs,” in order to put its capital to work more efficiently.

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