Angel Oak Mortgage REIT, Inc.

We do again welcome to Angel Oak Morgan Street first quarter 2026 earnings conference call. At this time, all lines are in listen only mode. Following the presentation, we will conduct a question and answer session. If at any time during this call you require immediate assistance, please play a story zero for operator assistance. Please note that this event is being recorded. I would now like to turn the conference over to Mr. Casey Culliher. Please go ahead. Good morning.

Thank you for joining us today for Angel Oak Mortgage REIT's first quarter 2026 earnings conference call. This morning, we filed our press release detailing these results, which is available in the investors section on our website at www.angelokereit.com. As a reminder, remarks made on today's conference call may include forward-looking statements. Forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those discussed today. We do not undertake any obligation to update our forward-looking statements in light of new information or future events. For a more detailed discussion of the factors that may affect the company's results, please refer to our earnings release for this quarter and to our most recent SEC filings. During this call, we will be discussing certain non-GAAP financial measures. More information about these non-GAAP financial measures and reconciliations to the most directly comparable GAAP financial measures are contained in our earnings release and SEC filings. This morning's conference call is hosted by Angel Oak Mortgage REIT's Chief Executive Officer, Srini Prabhu, and Chief Financial Officer, Brandon Filson. Management will make some prepared comments, after which we will open up the call to your questions. Additionally, we recommend reviewing our earnings supplement posted on our website. Now, I will turn the call over to Srini.

Thank you, Casey, and thank you all for joining us today. First quarter unfolded in a global environment that was largely supportive to uneven economic growth and geopolitical tensions, including renewed conflict in the Middle East, weighed on investors towards the end of the quarter. Inflation showed gradual improvement while labor markets cooled modestly, and the Federal Reserve maintained a measured, data-driven approach to policy decisions. Uncertainty weighed on risk sentiment at times, but also reinforced the values of discipline, liquidity, and steady execution. Within this setting, our platform performed well, supported by our focus on credit quality, funding discipline, and repeatable processes. Despite broader macro pressures, securitization markets remained open to the quarter. Investor demand continued to favor high quality collateral and experience issues, even as spreads reflected global headlines, rate volatility, and period of reduced risk appetite. We were pleased to complete the AOMT 2026-2 Securitization shortly before the onset of the conflict in the Middle East, taking advantage of favorable market conditions and underscoring the benefits of a methodical, repeatable, secularization approach. We remain selective in our use of these markets, staying focused on sound structures, conservative leverage, and economics that meet our return thresholds. Our first quarter results reflected our established operating growth trend with another consecutive quarter of net interest income expansion and prudent expense management. The positive earnings trend helped offset unfavorable valuation impacts during the quarter, which were driven by rates and spreads increasing and becoming more volatile. Looking forward, the need for non-QM lending solutions remains durable, and we see value in maintaining a cautious but active posture. our priorities remain consistent, growing earnings, executing reliably in capital markets, and positioning the portfolio to perform across a wide range of economic outcomes. With that, I'll turn it over to Brandon, who will walk us through our first quarter financial performance in greater detail.