PennyMac Financial has unique capabilities including it's synergistic partnership with Pennymac Mortgage Investment Trust, the REIT that we manage as well as our best-in-class operating platform, which have established this company as a leading mortgage banking enterprise. Our people, platform and governance infrastructure, which includes our focus on risk management, positions us well to sustain our competitive advantage in the residential mortgage market across a variety of economic environments. As I relinquish my day-to-day responsibilities but continue my involvement as chairman of the board, I am confident that the management team will continue to build on the established foundation in place for future growth, while providing superior, long-term returns to our stockholders. I look forward to the continued growth of the company and my ongoing responsibilities as chairman of the board.