I want to remind all participants that our earnings release of this morning, which may be accessed on MGIC's website, which is located at mtg.mgic.com, under Investor Information, includes additional information about the company's quarterly results that we will refer to during this call and includes certain non-GAAP financial measures. As we have indicated in this morning's press release, we have posted on our website the supplemental information containing the characteristics of our primary risk in force and flow new insurance written, as well as other information that we think you will find valuable.During the course of this call, we may make comments about our expectations of the future. Actual results could differ materially from those contained in these forward-looking statements. Additional information about those factors that could cause the actual results to differ materially from those discussed on the call are contained in the quarterly earnings release. If the company makes any forward-looking statements, we are not undertaking an obligation to update those statements in the future in light of subsequent developments. Further, no interested party should rely on the fact that such guidance or forward-looking statements are current at any time other than the time of this call or the issuance of the press release. And with that, I'd like to turn the call over to Curt. Curt S. Culver Thank you, Mike, and good morning. As reflected by the net loss for the second quarter of $273.9 million or $1.36 a share, our company's capital position on financial results continued to be adversely affected by the lackluster economic recovery the country continues to experience and particularly the lack of meaningful job creation. The bottom line is that the economy has not progressed as much we would've expected over the past year and at a pace that promotes sustained growth in the accompanying improvement in consumer credit performance. For our company, that means that new notices as a percentage of the in force continued to decline albeit slowly. But unfortunately, the cure rate is not recovering as fast as anticipated. This has caused us to extend the time frame of when we expect long-term cure rates to return to historic levels. So while we continue to monitor the macroeconomic environment, engaging conversations on the housing policy front, we spent most of our time on those variables that we can have more control over, those being credit quality, allocation of capital, maximizing the profitability of the new business, prudently and thoughtfully mitigating losses and minimizing operating expenses to maintain our cost advantage.