Book value per common share of $19.44 Hedge ratio decreased from 115% to 106% as the hedge portfolio was reduced in light of shorter portfolio duration Source: Company filings. Financial data as of December 31, 2023. Detailed endnotes and a glossary of defined terms are included at the end of this presentation. The Macroeconomic State of Affairs 9 11 Agile platform that can deploy capital across both the residential whole loan and Non-Agency securities markets | --- | --- | --- | --- | --- | --- | --- | --- ...