Paul Elenio | CFO |
Ivan Kaufman | President & CEO |
Jade Rahmani | KBW |
Ben Zucker | BTIG |
Stephen Laws | Raymond James |
Steve DeLaney | JMP Securities |
Rick Shane | J.P. Morgan |
Ryan Tomasello | KBW |
Good day, ladies and gentlemen, and welcome to the Q4 2018 Arbor Realty Trust Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will be given at that time. [Operator Instructions]. And as a reminder, today's conference call is being recorded.