So when we look at this, this is for our attorneys. We are an internally managed REIT. We are positioned to benefit from with agency and non-agency residential mortgage-backed securities. One thing Rich said a moment ago, he used the term hybrid. It's not offensive, but we don't consider ourselves a hybrid REIT. We can consider ourselves if you will specialist in residential mortgage-backed securities, which consists of both agency and non-agency securities. But what our expertise is in residential mortgage-backed securities. So I would just like to make you understand that.Kind of an experienced management team focused on residential MBS opportunities. I've been doing this since 1971 I guess. So that’s more than a couple of years. Non-agencies remain available at significant discounts. Craig will give you some data on that, but there is still wonderful opportunities non-agency arena very much so at or about the 8% level on a risk-adjusted return. We continue to benefit from a steep yield curve, and our goal remains to generate double digit returns with appropriate levels of leverage and again you will see some slides in few moments in terms of leverage. I think you will find we're one of the lowest, if not the lowest, levered entity in our space. We have had a 14.6% annual return compound down since January 2000, so for the last -- call it 10 years -- you can see for yourself. I'm kind of proud of this slide and the returns, and especially the fact we have been basically the lowest leverage of the company in our space. Here I’m just going to go one or two things and I’m going to turn to Bill, but one or two things I would like to just point out to. So, when you look at our debt to equity and if you go to the far right column you can see that the agencies are levered at about 6.7 times, non-agencies were about two times. Overall leverage about 3.5 times.