Dynex Capital, Inc.

Thank you for standing by. My name is Eric and I will be your conference operator today. At this time, I would like to welcome everyone to the Dynex Capital second quarter earnings conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, press star one again. I'd now like to turn the call over to Alison Griffin, Vice President of Investor Relations. Please go ahead.

Good morning, and thank you for joining us for Dynex Capital's second quarter 2024 earnings call. The press release associated with today's call was issued and filed with the SEC this morning, July 22nd, 2024. You may view the press release on the homepage of the Dynex website at dynexcapital.com as well as on the SEC's website at sec.gov. Before we begin, we wish to remind you that this conference call may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words believe, expect, forecast, anticipate, estimate, project, plan, and similar expressions identify forward-looking statements that are inherently subject to risks and uncertainties. some of which cannot be predicted or quantified. The company's actual results and timing of certain events could differ considerably from those projected and are contemplated by those forward-looking statements as a result of unforeseen external factors or risks. For additional information on these factors or risks, please refer to our disclosures filed with the SEC, which may be found on the Dynex website under Investor Center, as well as on the SEC's website. This conference call is being broadcast live over the internet with a streaming slide presentation, which can be found through our webcast link on the homepage of our website. The slide presentation may also be referenced under quarterly reports on the Investor Center page. Joining me on the call is Byron Boston, Chairman and Co-Chief Executive Officer, Murthy Papineau, President, Co-Chief Executive Officer, and Chief Investment Officer, and Rob Colligan, Executive Vice President, Chief Financial Officer, and Chief Operating Officer. It is now my pleasure to turn the call over to Byron.

Thank you, Allison, and good morning, everyone. At Dynex Capital, we continue to build a company that will deliver consistent monthly cash income and compelling long-term returns for our shareholders. When I first joined here in 2008, Dynex's market capitalization was less than $100 million. This quarter, our total equity eclipsed $1 billion for the first time in our 36-year history. I'm extremely proud and excited about the progress we have made at Dynex Capital so far in 2024. As a student of economic history and a market practitioner, I've managed investment portfolios through many cycles. This has already been an incredible decade with multiple extreme cycles. Our team here at DianX has been prepared. Events that surprised many in the market were not surprises for this team. We were prepared and always understood that surprises were highly probable. We have a nimble mindset and we are sitting with a capital base that is extremely strong. As we start the second half of 2024, we are well positioned to capitalize on the next cycle in the mortgage market. Human capital remains a major focus for us. Today, we announced that we hired Harman Shani as our new chief technology officer. Harman brings a deep history in financial technology, including experience at other mortgage REITs and major financial institutions. His expertise will ensure we can continue to compete on tech-driven analytics. We also announced several executive leadership and management changes. In most cases, these actions align titles and roles with the work these exceptional people are already doing. Jeff Childress, our controller for nearly 20 years, has been named chief accounting officer. Rebecca Emhoff, our current assistant controller, has been named our new controller. Bob Nilsen, a 30-plus year veteran of Dynex, has been named chief risk officer Our CFO, Rob Colligan, was named Chief Operating Officer in addition to his current title. And finally, my long-term colleague and teammate, Smriti Papano, was named Co-Chief Executive Officer with me. Smriti and I have managed mortgage assets together as a team for 27 years. We successfully created our first mortgage REIT 20 years ago and executed an IPO on the New York Stock Exchange. We are the longest-tenured team that has successfully managed a mortgage rate together over this time period. Today's action formalizes her importance at Dynex and cements her legacy as a leader in the mortgage market. Her skills and accomplishments over her career are significant as anyone I've ever met in the markets. Smriti grew and developed in this industry, one that is male-dominated and highly competitive. She has achieved great success despite obstacles. Growing up, Smriti was educated on three continents, which taught her the valuable lessons of adaptability and resilience. The kind of tenacity, resolve, willingness to learn, and leadership that she has demonstrated are beyond comparison. The global perspective that she has brought to our investment and management process has been invaluable. The team and I are focused on managing our company with a long-term strategic vision, and we are methodically putting that vision in place. Dynex is the oldest publicly traded mortgage REIT, and we're building the company to endure well into the future. I will now turn it over to Rob Colligan, our CFO and Chief Operating Officer, to review the financials.