Mikhail Goberman

“Just wanted to get your general thoughts on the competitive landscape out there.”

“Your line is now open. hey good morning bob um most of my questions have already been touched on but um if i could maybe ask about uh expenses a little bit um the two percent expense ratio that i see in your slide deck is that um is there any more opportunity you guys think for more positive operating leverage or is…”

“If I could just to clear up one thing, when you talk about distributable earnings converging with the $0.36 dividend in the latter half of the year, are you referring to the current $0.30 figure you printed in Q1 or the $0.34 prior to realized credit losses figure?”

“No, we didn't see anything really different in recapture behavior and performance.”

“And if I can just squeeze in one more, you talked about investment opportunities being pretty attractive at the moment. Assuming rates on MBS continue to kind of creep up higher, how does that sort of look to your portfolio construction of your premium portfolio going forward?”