Chairman Bill Erbey stated, "Our strong cash flow generation enabled us subsequent to year-end 2010 to repay all but $35 million of the $350 million Senior Secured Term Loan. Ocwen has sufficient liquidity to repay this loan in full and once completed will save the $9.3 million in interest and amortization incurred on this loan in the fourth quarter of 2010. However, it was important to leave a small amount of the Senior Secured Term Loan outstanding to maintain the accordion feature which provides financing flexibility should we acquire a significant portfolio. We substantially reduced non-core assets to less than $50 million excluding the non-recourse assets for the four securitization trusts that we now include on our balance sheet."Servicing In comparison to the fourth quarter of 2009, revenue was 57% higher, and the total of unpaid principal balance serviced increased from $50.0 billion at December 31, 2009 to $73.9 billion at December 31, 2010. Operating expense increased by $28.6 million due to $17.5 million in non-recurring transaction expenses related to the HomEq acquisition and to growth in our Servicing business. After adjusting for the non-recurring expenses, operating expenses increased by 36.4% over the fourth quarter of 2009. Pre-tax income for Servicing was $18.8 million in the fourth quarter of 2010. After adjusting for the one-time items affecting the Servicing segment in the fourth quarter of 2010, pre-tax income was $37.5 million or 28.0% higher than in the fourth quarter of 2009. Excluding the interest expense on the Senior Secured Term loan that was almost fully repaid subsequent to the end of 2010, adjusted pre-tax income in Servicing would have been $45.6 million or 56% higher due to growth in our servicing portfolio and unit cost reductions. Loans and Residuals Loans and Residuals incurred a loss from continuing operations before taxes of $3.0 million as compared to a loss of $2.1 million in the fourth quarter of 2009. The fourth quarter 2010 loss includes a $2.1 million reduction in the valuation of performing loans as a result of changes in market conditions. The balance of assets in this segment was $103.9 million at December 31, 2010. Excluding $67.3 million in non-recourse assets associated with the four securitization trusts that we first included in our financial statement in 2010, our assets were $36.6 million.