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The Company is a leading independent retail mortgage banking company primarily engaged in the business of originating and selling residential mortgage loans. The Company offers a broad array of residential mortgage products targeted primarily to high-credit-quality borrowers over the Internet, as well as through its 313 primarily commission-compensated loan originators. The Company operates from 55 loan offices in the New York metropolitan area and five other eastern states, and in California, Illinois, New Mexico and Arizona. The Company operates primarily as a mortgage banker, underwriting, funding and selling its loan products to more than 45 different buyers. In January of 1999, the Company began marketing its mortgage products over the Internet through its Internet site, MORTGAGESELECT.COM. Mortgage products are originated online through arrangements with a number of popular Web sites and through the Company's own Web site, established in 1999. Net income for the third quarter of 2000 totaled $1.5 million, or $0.17 per share on a diluted basis, compared to $0.7 million, or $0.10 per share on a pro forma basis, in the 1999 third quarter. For the first nine months of 2000, net income was $3.6 million, or $0.43 per share on a diluted basis, up from $2.2 million, or $0.29 per share on a pro forma basis, in the same period a year ago. Loan originations increased 193.1% in the third quarter of 2000, totaling $862.8 million compared to $294.4 in the 1999 third quarter. Originations from our MORTGAGESELECT.COM Internet Web site totaled $139.5 million in the third quarter of 2000. On June 30, 2000, the Company completed its acquisition of First Home Mortgage Corporation ("First Home"), an Illinois corporation, which was merged with and into American Home Mortgage Corp. First Home is a full service retail lender. First Home originates and purchases mortgage loans for sale in the secondary mortgage market. It operates 24 branch offices in three states. During the third quarter the Company entered into an agreement with Roslyn National Mortgage Corporation, a New York corporation ("RNMC"), to purchase certain branch offices of RNMC. These branch offices are located in New York, Virginia, Maryland and Connecticut. The transaction closed on October 23, 2000.