Good morning. My name is Chuck, and I'll be your conference facilitator today. At this time, I would like to welcome everyone to the Granite Point Mortgage Trust second quarter 2022 financial results conference call. All participants will be in a listen-only mode. After the speaker's remarks, there will be a question-and-answer period. Please note today's call is being recorded. I would now like to turn the call over to Mr. Chris Petta with Investor Relations for Granite Point. Please go ahead, sir. Thank you, and good morning, everyone. Thank you for joining our call to discuss Granite Point's second quarter 2022 financial results. With me on the call this morning are Jack Taylor, our President and Chief Executive Officer, Marcin Urbaszek, our Chief Financial Officer, Steve Alpart, our Chief Investment Officer and Co-Head of Originations, Peter Morral, our Chief Development Officer and Co-Head of Originations, and Steven Plust, our Chief Operating Officer. Introductory comments, Jack will review our current business activities and provide a brief recap of market conditions. Steve Alpart will discuss our portfolio. Marcin will highlight key items from our financial results. Press release and financial tables associated with today's call were filed yesterday with the SEC and are available in the Investor Relations section website, along with our Form 10-Q. I would like to remind you that remarks made by management during this call and the supporting slides may include forward-looking statements which are uncertain and outside of the company's control. Forward-looking statements reflect our views regarding future events and are subject to uncertainties that could cause actual results to differ materially from expectations. Please see our filings with the SEC for a discussion of some of the risks that could affect results. We do not undertake any obligation to update any forward-looking statements. We will also refer to certain non-GAAP measures on this call. This information is not intended to be considered in isolation or as a substitute for the financial information presented in accordance with GAAP. Reconciliation of these non-GAAP financial measures to most comparable GAAP measures can be found in our earnings release and slides, which are available on our website. I will now turn the call over to Jack. Thank you, Chris, and good morning, everyone. We would like to welcome you all to our second quarter 2022 earnings call. Over the first half of 2022, we made significant progress on several aspects of our business. We refinanced two inefficient legacy funding vehicles and repaid high-cost term loan borrowings, resulting in improved run rate earnings and greater balance sheet flexibility. We've also been deploying capital into attractive investment opportunities, mainly in the multifamily and industrial sectors. Through the first two quarters of 2022, our loan fundings of over $380 million exceeded the $290 million of repayments, resulting in modest growth in portfolio balance. In general, our portfolio has been performing well despite the challenging market conditions. We've seen over prior economic cycles that U.S. commercial real estate is viewed favorably by institutional investors globally during periods of volatility and uncertainty. We're in one of those periods today with elevated macroeconomic uncertainty and capital markets volatility, mainly driven by the rapid increase in interest rates over the last few months, which have reduced real estate transaction volume and impacted views on property values. Given the uncertain markets and volatility, we have substantially reduced our loan origination activities in the third quarter while focusing on further building our liquidity levels for any additional market deterioration or unforeseen credit developments in our own loan portfolio. We believe the markets may stabilize over the coming months as new data should provide additional clarity on the likely forward path of macroeconomic trends and the Fed's monetary policy over the coming quarters. Our lending activity over the rest of the year will largely depend on capital availability and the overall market environment as we intend to maintain our measured approach. Given the uncertain macroeconomic landscape and broader market trends, during the second quarter, we increased our reserve for credit losses and downgraded one of our office loans to a risk rating of five. We continue to actively work on resolutions of our two risk-rated five loans, which we believe should resolve before the end of the year, though, given the overall market uncertainty, the exact timing remains hard to predict. Since quarter end, we funded about $54 million in loan balances and realized over $155 million of repayments. The repayments year to date total approximately $450 million and have been spread across various property types, including over $185 million of office loans. Due to our measured approach to capital deployment and repayment expectations, we anticipate that the balance of our portfolio may modestly decline over the remainder of the year, though it is difficult to be precise in our projections given current market conditions. Our accomplishments over the first half of the year have benefited our business, improved our run rate profitability, and provided additional balance sheet flexibility. Repayment of the high-cost term loan borrowings in the second quarter helped to meaningfully offset the earnings impact of rising short-term rates. The current level of benchmark short-term interest rates is above all of the benchmark rate floors in our loans, and our portfolio is now positively correlated to additional increases in short-term interest rates going forward. We remain focused on prudently managing both sides of our balance sheet, improving our run rate earnings, and driving shareholder value by closing the gap between our current stock price and our book value. Consistent with this approach, given our liquidity position, low leverage, and the discounted valuation of our stock, during the second quarter, we creatively repurchased in the open market over 1.5 million common shares, totaling over $15 million, which benefited our second quarter book value by about $0.17 per share and helped meaningfully offset the charge related to the repayment of the term loan borrowings. We will remain opportunistic in further rationalizing our funding and capitalization to better position us for future growth as markets regain more stability over time. Despite unprecedented interest rate and overall market volatility, our business has delivered solid operating performance led by our well-diversified and resilient portfolio of senior loans, generating good run rate earnings, supporting an attractive dividend. Our seasoned team has successfully navigated multiple economic, credit, and interest rate cycles over their long careers, including periods of macroeconomic uncertainty and volatility. Our conservative approach to credit underwriting, risk management, and protecting our investors' capital has been a key tenet of our strategy, and we believe it will deliver attractive risk-adjusted total returns to our stockholders over time. I would now like to turn the call over to Steve Alpart to discuss our portfolio activities in more detail. Thank you, Jack, and thank you all for joining our call this morning. In the second quarter, we continued to deploy capital into high-quality loans that meet our credit and return criteria. We closed five new loans totaling about $202 million in commitments and over $165 million of initial fundings. We also funded over $40 million on existing commitments, bringing total future fundings for the quarter to over $210 million. Over 75% of our Q2 originations were secured by multifamily assets, consistent with our theme this year to focus on more defensive property types with favorable credit profiles. The newly originated loans carry attractive risk-adjusted return characteristics with a weighted average yield of SOFR plus 3.95 and a weighted average stabilized LTV of approximately 64%. Our repayments and loan paydowns totaled about $120 million in the second quarter, which were outpaced by loan fundings and resulted in modest portfolio growth. Consistent with broader market trends, the pace of our repayments has moderated along with the overall slowdown in real estate transaction activity. Our portfolio ended the second quarter with an aggregate committed balance of $4.2 billion, including $360 million of future funding commitments. Our portfolio is well diversified across geographies and property types and includes 104 investments with an average loan size of approximately $37 million. Our loans continue to deliver an attractive income stream with a favorable overall credit profile, generating a realized yield of about 5%, with a weighted average stabilized LTV of 63%. As of June 30, our portfolio weighted average risk rating was 2.5, which was unchanged from the prior quarter as new loan originations offset select rating downgrades, which were mainly driven by overall market conditions. During the quarter, we moved one of our office loans to a risk ranking of five, put the loan on non-accrual status given our expectations for a potential loss, and established a $4.5 million credit reserve. The collateral property securing this $94 million loan has been negatively impacted by a soft leasing market in San Diego, driven by the ongoing impact of the pandemic. This quarter, we also added a previously rated four loan collateralized by an office property in Minneapolis to our watch list due to the property being negatively impacted by slow office leasing in this market. We are in active discussions with both of these borrowers as we evaluate a variety of resolution alternatives. We are also continuing on a path to resolving the Pasadena retail loan, which we expect to occur by the end of the year. Given the uncertain market conditions, which have significantly shifted from last quarter, it is difficult to predict the exact timing of these resolutions. Notwithstanding these specific cases, we have a well-diversified portfolio of over 100 investments, and the overall credit quality of our portfolio remains stable. Given the overall market uncertainty, the slowdown in real estate transaction volume and pressure on property values, we will remain measured in our approach to new loan originations until there is more clarity on overall market conditions and available liquidity. So far in the third quarter, we have funded approximately $54 million in loan balances and realized over $155 million of repayments. Our year-to-date repayments of about $450 million across various property types include over $185 million in office loans, with the remainder spread across hotels, multifamily, and other sectors. Our repayment pace has been slower than usual and impacted by overall market conditions. However, our borrowers have continued to successfully repay our loans through refinancings and property sales, even during these challenging market conditions, which underscores our conservative underwriting and the overall credit quality of our portfolio as a whole. I will now turn the call over to Marcin for a more detailed review of our financial results. Thank you, Steve. Good morning, everyone, and thank you for joining us today. Yesterday afternoon, we reported a second quarter GAAP net loss of $17.4 million or $0.32 per basic share as compared to GAAP net income of $1 million or $0.02 per basic share in Q1. Our Q2 GAAP results include a provision for credit losses of about $0.26 per basic share and a previously disclosed charge on early extinguishment of debt of about $0.25 per basic share, which was related to repayment of the senior secured term loan and term financing facilities. Distributable Earnings for the second quarter were $11.7 million or $0.22 per basic share, which excludes the provision expense and the loss on debt extinguishment. Our June 30th book value was $16.01 per share, down from $16.39 per share last quarter. Book value reflects the GAAP results and the dividends, which were partially offset by our accretive share repurchases during the quarter that we estimate benefited our book value by about $0.17 per share. We remain focused on improving shareholder returns over time and repurchasing over 1.5 million common shares at a meaningful discount is consistent with the strategy. In total, we have repurchased over 2.8 million common shares over the last few quarters, which have meaningfully benefited our book value and helped offset some of the impacts associated with repaying the high cost term on borrowings. Consistent with industry trends, our second quarter CECL reserve increased to about $50 million or 118 basis points of total portfolio commitments. The increase was mainly driven by implementing more conservative macroeconomic forecasts in our analysis, given the economic and market backdrop, as well as establishing a specific reserve on an office loan which Steve discussed earlier. In total, about $18.6 million of our CECL reserve is allocated to the two risk-rated five loans. Turning to interest rate positioning, as we discussed on prior calls, becoming positively correlated to higher short-term rates was mainly dependent on the speed at which benchmark rates would increase given the relatively higher LIBOR floors in our loans. As of June 30th, benchmark rates were higher than about 80% of the rate floors in our loans. Given the recent increase, current level of benchmark interest rates is above all of our floors. Our portfolio is currently 100% correlated to additional interest rate increases. With respect to liquidity and leverage, we ended the quarter with about $150 million of unrestricted cash, and our total debt to equity ratio on June 30th modestly increased to 2.7x from 2.5x at the end of March. Thank you again for joining us today, and I will now ask the operator to open the call to questions. Thank you. We will now begin the question and answer session. To ask a question, you may press star then one on your touch tone phone. If you're using a speakerphone, please pick up your handset before pressing the keys. To withdraw your question, please press star then two. At this time, we'll pause momentarily to assemble our roster. The first question will come from Doug Harter with Credit Suisse. Please go ahead. Thanks. I mean, you made comments that you expect to slow loan origination volume in light of the current environment. Can you talk about how you would view continued share repurchase in light of those views? Hi, Doug, this is Jack Taylor. Thank you for joining us. Well, it is our general policy not to comment on potential buybacks or their timing, as we've stated in the past. We've always been focused on generating attractive risk-adjusted shareholder returns. As we assess what to do with our liquidity, one of the things that we'll look at is our discount to book valuation as a factor, and we'll take that into consideration. We can't comment specifically on what we'll do on share buybacks, but it's something that's part of our toolkit. Great. Last quarter you had in your slide deck, you know, some of the initiatives to drive ROE higher. Can you just give us an update as to where you are in kind of achieving those and kind of when we, you know, where we are in those steps of driving higher ROE? Sure. Hey, Doug, it's Marcin. Good morning. Thanks for joining us. I would say, you know, out of the list that we had in that slide, most of that has taken place. You know, we repaid the term loan. We refinanced some of our legacy inefficient funding vehicles. Obviously, considering we're taking a measured pace to originations, I think that last piece is probably a little bit slower. As you heard us say in prepared remarks, we continue to work on resolving some of the non-accrual assets. We've accomplished a lot. We have a little bit more to go. You know, it really depends on going forward, ROE really depends on when we can resolve these assets, which we expect to potentially happen by the end of the year. Just, you know, going from there, levering up the portfolio and growing it from there, hopefully benefiting from higher rates as well. Great. Thanks, Marcin. The next question will come from Steve DeLaney with JMP Securities. Please go ahead. Good morning, everyone. Thanks for taking the question. On the San Diego situation, the office loan, could you give us a little, just a little more color about the occupancy tenant mix? Sorta how is that property positioned in the market? Kinda what stage of it was, 2019 loan, late 2019. Kinda which stage is it in terms of any renovation and that type of thing? Thank you. Hey, Steve. Good morning. Thanks for joining. It's Steve Alpart. Just Yes. I'll just kinda go here. Like we mentioned on the call that we downgraded the risk ranking on this asset to a five during the quarter. The building itself is very well located. It's recently renovated. Okay. It's a Class A property. It's in the San Diego CBD. Like a lot of the CBD office, it's been impacted by a slow leasing market. As I mentioned in the prepared remarks, we placed the loan on non-accrual status, took the asset-specific reserve that we mentioned of $4.5 million. We've been in ongoing, call it constructive conversations with the sponsor. They have a significant amount of equity in the property. The CapEx portion of the business plan is complete, but the Yeah. -leasing has been difficult for the reasons that I mentioned. Also mentioned that the borrower is currently in the process of marketing the property. As I said, we're in active dialogue as we communicate with the sponsor and kinda monitor that process. Okay, great. That's helpful. It sounds like you do have a borrower who is somewhat value add, you know, to the situation at this point. You probably don't wanna comment any further than that, but I think that's positive and that's helpful color. I appreciate it. I'm sorry, go ahead. No, go ahead. The CLOs, the two 2021s, when you referred to reworking inefficient, you know, financing vehicles, were you referring to those two CLOs? You know, remind me of whether they had two year or two and a half year reinvestment periods. Thanks. Hey, Steve, it's Marcin. Thank you for joining us. Hi, Marcin. Thanks for the question. Sure. We had two legacy facilities that we refinanced earlier in the quarter. That was the first FL1 from 2018, and then the term financing facility. We took care of those two. We have FL2, the 2019 legacy, which we're looking to potentially refi at some point. That had a two-year managed period which ended. Yes. The 2021s, the FL3 is a static deal, and the FL4 has a two-year reinvestment period, so it's still active. Okay. Three is static. Okay. You have one active, one open CLO. Correct. Is it your plan to, obviously, as cash comes available, you'll reinvest in that CLO? You know, I know it sounds like you're not gonna have any material loan growth over the next couple of quarters, but would you keep that CLO, attempt to keep that CLO fully invested? Yeah. That's our goal. Okay. Good. Well, thanks for the comments. Appreciate it. Thank you. Again, if you have a question, please press star then one. Our next question will come from Stephen Laws with Raymond James. Please go ahead. Hi, good morning. You touched on a little bit of this already, but sort of a follow-up. As you think about, you know, buybacks versus originations versus kind of, you know, improving liquidity, you know, what are you looking for? I think in the prepared remarks you kinda mentioned, you know, market conditions and liquidity as two reasons to, you know, take leverage back up maybe later this year or think about, you know, being more aggressive on the origination front. Kinda, you know, is it really resolving the two five-rated loans later this year to free you up to do that? Or what other considerations are you looking at there? Hi, Stephen, this is Jack Taylor. Good to hear from you, and thank you for your question. The uses of the liquidity will be highly dependent upon subsequent events from now and overall market conditions. We do believe that once markets stabilize more, that it will be a good environment for lenders to lend on pretty conservative terms with, I would say, even better structure, though structure's been pretty good so far in the market. Even better structure in favor of the lenders going forward. I commented earlier on the share buyback and that that's also a function of a cost benefit analysis against other uses of the liquidity. Resolution of our loans, the non-accrual loans does bear upon this analysis. It's not determinative of it, but is one of the many factors that goes into it. Appreciate the comments there, Jack. You know, as we think about unfunded commitments, you know, with the slower, maybe slowdown in originations, we'll see, you know, less added, but how do we think about the drawdowns as the portfolio seasons and these projects kinda move through their plans? You know, what type of drawdowns do you expect on the unfunded commitments in the back half of the year? We've been running around for a number of years, around $50 million a month or so. The actual size of the future funding pool has decreased, and it's been running more at $40 million, and we expect it to trend a little bit lower over the next several quarters. Great. Appreciate your comments this morning. Thank you, Steve. Ben, I should say. This concludes our question and answer session. I would like to turn the conference back over to Mr. Jack Taylor for any closing remarks. Please go ahead. Thank you very much, operator, and I would like to thank all of you for joining our call today. Also we'd like to thank you for your continuing support of our business. We wish you good health during these continuing times, and we look forward to speaking with you soon. The conference is now concluded. Thank you for attending today's presentation. You may now disconnect.