… – KBW Doug Harter – UBS Eric Hagen – BTIG Operator … , particularly short duration mortgage credit Agency RMBS continue … reclassification of certain multifamily real estate assets owned by … performing and performing residential loans and losses incurred …

… Timothy Chiodo with UBS. Tim Chiodo -- UBS -- Analyst I … amp;E or professional fees, real estate, software and data fees. And … by increasing the number of loan actives while maintaining strict eligibility … -- Analyst Tim Chiodo -- UBS -- Analyst Darrin Peller …

… comes from Brennan Hawken from UBS. Your line is now … open. Brennan Hawken -- UBS -- Analyst Good morning. Thank … these things. Brennan Hawken -- UBS -- Analyst Great. Thanks for … #39;ve been approached about real estate loans. And the phenomenon we have …

… yet credit and commercial real estate could deteriorate," … banks, driven by commercial real estate loans, David Chiaverini, an … bond portfolios, not commercial real estate. Last week, Philadelphia … held leadership roles at UBS Americas; former Bond Street …

… attractive opportunities within private mortgage insurance. While Validus … real estate or something like that. So — Robert Qutub: The real estate … — okay, so let me rephrase. The real estate and … from Brian Meredith with UBS. Please go ahead. …

… – Evercore ISI Justin Tucker – UBS Operator Ladies and gentlemen, thank … in the quarter, while real estate equity funds had a negative … we have an updated commercial mortgage loan slide as of March 31 … on to Brian Meredith with UBS. Please go ahead. Justin …

… . Private credit and syndicated loan spreads are at historically tight … some pockets of strength like real estate and Japan. Management fees totaled … comes from Brennan Hawken with UBS. Your line is now … line of Brennan Hawken with UBS. Your line is now …

… class portfolio generate resilient real property income. Same-property manufactured … from home sales to real property rents. Regarding capital allocation … off our corporate term loan with our revolving … from Michael Goldsmith with UBS. Please proceed with …

… conservative risk posturing. The Real Estate Group, which focuses on … side, on the consumer loan business, we do opportunistic … investment business, including the mortgage company, create significant advantages … from Doug Harter of UBS. Please go ahead. …

… our Mainland China commercial real estate portfolio. While challenges remain … basis points of average loans, recognizing the overall uncertainty … from Jason Napier at UBS. Jason Napier: First … take place in mortgages and recognizing mortgages have seen very …