Jason Frank | Deputy General Counsel & Secretary |
Laurence Penn | CEO, President & Trustee |
Christopher Smernoff | CFO |
Mark Tecotzky | Co-CIO |
Douglas Harter | Crédit Suisse |
Mikhail Goberman | JMP Securities |
Good morning, ladies and gentlemen. Thank you for standing by. Welcome to the Ellington Residential Mortgage REIT 2019 Fourth Quarter Financial Results Conference Call. Today's call is being recorded. [Operator Instructions].