New York Mortgage Trust, Inc. (NASDAQ:NYMT) Q2 2023 Earnings Conference Call August 3, 2023 9:00 AM ET

Company Participants

Jason Serrano - Chief Executive Officer

Kristine Nario - Chief Financial Officer

Nick Ma - President

Conference Call Participants

Doug Harter - Credit Suisse

Operator

Good morning, ladies and gentlemen, and thank you for standing by. Welcome to the New York Mortgage Trust Second Quarter 2023 Financial Results Conference Call. During today's presentation, all parties will be in a listen-only mode. Following the presentation, the conference will be opened for questions. [Operator Instructions] This conference is being recorded on Thursday, August 3rd, 2023.

A press release and supplemental financial presentation with New York Mortgage Trust's second quarter 2023 results was released yesterday. Both the press release and supplemental financial presentation are available on the company's website at www.nymtrust.com. Additionally, we are hosting a live webcast of today's call, which you can access in the Events & Presentations section of the company's website.

At this time, management would like me to inform you that certain statements made during the conference call, which are not historical, may be deemed forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.

Although New York Mortgage Trust believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained.

Factors and risks that could cause actual results to differ materially from the expectations are detailed in yesterday's press release and from time to time in the company's filings with the Securities and Exchange Commission.

Now, at this time, I would like to introduce Jason Serrano, Chief Executive Officer. Jason, please go ahead.

Jason Serrano

Thank you. Good morning, everyone. Thank you for joining our second quarter 2022 earnings call. With me today is Nick Ma, President; and Kristine Nario, Chief Financial Officer.

I will begin by providing some market information and briefly touch on the second quarter update before passing the call to Kristine, who will discuss our quarterly results in more detail. Nick will then provide additional commentary with respect to our portfolio and market opportunity.

Starting on page seven of our supplemental, over the past few quarters, we have highlighted market data plans and various graphs to help inform our rationale behind key company management decisions.

Last quarter, we showed a table that illustrates the time measured in months to recession given the inversion of different tenors of the yield curve. The data indicated that the US economy would be in a recession at this time, which correctly predicted 10 out of the 10 recessions since 1957.