First, an overview of our fourth quarter earnings; second, the realignment of our business segments to position us for growth in 2008 and beyond; and third, as Dave just mentioned, my proposal together with Ocwen management and funds managed by Oaktree Capital Management and Angelo, Gordon & Co to acquire Ocwen for $7 in cash per share. This decrease was primarily due to lower float income as custodial balance averaged $474 million for the fourth quarter of 2007, compared to $972 million for fourth quarter of 2006. Slide 17 shows our Residential Origination Services segment's fourth quarter 2007, pre-tax loss of $24 million, compared to a fourth quarter 2006 pre-tax loss of $3. While NCI's fourth quarter 2007 financial performance remains below our expectations, NCI demonstrated a modest improvement over the third quarter of 2007. As shown on slide 22, the number of accounts placed with NCI from our largest customer in the fourth quarter of 2007 was 13% greater than the number placed in the fourth quarter of 2006. read more

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