Matt Howlett: Thank you for explaining. It’s much more clear now. I mean, the silos and the areas you have put the capital — areas where you can put capital to work, I mean, those ROEs, no one — I mean, those doses are terrific. I guess, I mean, they all look attractive. I guess I just want to zero on 1 and that would be the stress third-party acquisition from banks. You just said you just started seeing it. I mean, our channel checks suggest the banks will be selling probably after the year-end, there all probably. Do you have expertise to buy every type of commercial loan? Or is there one that you want to focus on? It just sounds like there’s going to be ways of that going forward and the pricing is going to be very attractive?
Tom Capasse: Yes. I mean, most of what we — I mean, this is the expertise of the external manager Waterfall, which along with Ready Capital was one of the largest buyers of small balance commercial loans from banks after the GFC. We bought about $5 billion, $6 billion, worked out about 5,000 loans. But our expertise is we stick to our knitting, and our knitting is lower middle market commercial loans, commercial real estate loans. Do we have the ability to buy other asset classes? Yes. But I think what we’re going to be focused on is more of these small balance pools that will be sold by banks with a bias towards multi and less opportunistic purchase, for example, of office. So that’s where we historically been focused and where we’ll be focused going forward.
Matt Howlett: And just the last question. You guys have always been creative with M&A. It seems like there’s more platforms out there today than there has been in a while. I mean, would you look at with your excess capital, which is significant, nobody has the leverage — the low leverage that you have. I mean, would you look at possibly buying one of these publicly traded REITs or something else to really put the money to work faster?
Tom Capasse: I’m not sure on the publicly trade side, but there are definitely businesses embedded in banks and nonbanks that have agency licenses, which would dramatically expand our origination capabilities, especially given that we’re one of the leading bridge lenders in the country to that lower middle market, that Fannie and Freddie, for example, traffic in. So yes, so I think they definitely gives us with the ability to do with their high yield or other preferred to relever the equity base, it does give us some buying power for an acquisition along those lines, for which we’re currently looking at opportunities.
Operator: Ladies and gentlemen, we have reached the end of the question-and-answer session. And I’d like to turn the call back to Tom Capasse for closing remarks.
Tom Capasse: Again, we appreciate everybody’s time. And again, I think we highlighted in this quarter the temporary drag on earnings due to the Broadmark acquisition, which we’re highly confident via deployment of capital and releveraging will result in accretion of at least $0.26 a share for that aspect to achieve our 10% core earnings target. So with that, we appreciate everybody’s time, and we don’t speak and which we won’t. Have a good holiday.
Operator: Thank you very much. Ladies and gentlemen, that does concludes today’s event, and you may now disconnect.
