As of March 31, Essent Re's third-party risk in force was approximately $2.3 billion, up 10% from the first quarter of 2023. Our title operations incurred a pre-tax loss of approximately $4 million in the first quarter, similar to the third quarter and fourth quarter of 2023. With the post-acquisition integration complete, we have begun the build-out of Essent Title, which should enable us to leverage our strong operational infrastructure, lender network and risk analytics. Cash and investments as of March 31 were $5.8 billion and our new money yield in the first quarter was approximately 5%. The annualized investment yield for the first quarter was 3.7%, up from 3.4% a year ago. New money rates have largely held stable over the past several quarters. We continue to operate from a position of strength with $5.2 billion in GAAP equity, access to $1.4 billion in excess of loss reinsurance and over $1 billion of available holding company liquidity.