Terrell Tillman: I guess, so I think what you all said, you’re not guiding to the full year, but I thought I did hear something about potentially, sequentially, there could start to be some uplift from first quarter revenue levels, maybe on the platform side. But I don’t know if you can like either confirm or help me on that. Maybe I was just confused. But you definitely have some sort of internal assumptions that are informing this idea of that kind of $20 million or lower loss by the end of the fourth quarter. So if you’re not going to be able to give us some of those planning parameters more formally. Anything you can share maybe on the consumer banking side or how low, does it go to zero on title 365. Just trying to understand anything more, though, you could share for the full year that informs that EBIT loss kind of target.
And then secondly, after that long winded first part of the question is, how do we think about free cash flow? Because I think people are also looking at your free cash flow, just given kind of the balance sheet and how do we think about free cash flow in relationship to maybe EBIT losses? And then I had a follow-up.
Nima Ghamsari: On the title side, we don’t expect that to go to zero. We have migrated the major customers that we think we’re going to migrate, there’s certain parts of the title business like default and home equity that won’t migrate to the platform that are not part of the refinance business that’s tied to our platform, the software enabled title. And then I’ll turn to Amir for the remainder of the question.
Amir Jafari: Terry, there was just a few items to unpack there. Let me just start with one of the pieces. With regards to free cash flow, just for us, as it pertains to our overall cash position, we feel strongly, we have analyzed it, we understand it. We feel strongly that we are in a great position from a cash perspective. As to the generation of free cash flow, given builder and our execution on cost, I think we believe strongly that we can deliver on free cash flow generation early, but it’s not something that we are going to comment on today. If I missed any part, but I think you had one more with regards to net operating losses. Point us back to what we shared, which is we feel that there is just good momentum with regards to the actions that were taken on January 10th.
And as I mentioned in the prepared remarks, we are making great progress on those front. Although last you asked one more, just one more piece that you asked for and then let’s get your follow-up, which was you asked with regards to just our overall macro and indications from a guidance perspective. You are correct, we are not guiding to the full year today. As you can expect, it’s really just driven by the overall uncertainty. We follow Fannie Mae and MBA and I think what we would point you to is that as we follow their forecast, they are pointing to Q1 being the low point. And from there, the ability to show sequential growth. Last comment too, Terry, and then I will pause for yours is, remember, just we noted that none of the new Builder deals are in our forecast.
And so as we continue to stay focused on our mortgage customers and the rollout of builder, that’s where we feel optimistic.
