Impac (NYSE:IMH) founded in 1995 with alternative credit in our DNA. Since inception, we’ve grown to one of the largest issuers of non-Agency MBS. Pre-crisis, Impac originated/purchased over $90BB in residential mortgage loans and issued over $60BB in MBS. Post-crisis, as a pioneer in the NQM space, we’ve originated over $5BB in NQM product. We’ve participated in multiple NQM securitizations – with our collateral representing 100% of some deals.