I mean you're talking about another potential 25 basis points to 60 basis points.
Core earnings attributable to noncontrolling interests in Thank you. Totally understandable, just given the size of it and the fact that you weren't adding to it. But I would say that, that is probably more of a fourth quarter question than a third quarter question or second quarter question.Yes. Currently, we, like some of our peers, are rolling a portion of our bonds. Please proceed with your question.So look, I mean, all in all, a lot to be thankful for, both company-wise, personally, everything else, considering what we've been through this year so far. But I think others -- as others have noted this quarter, we use a variety of metrics to evaluate the earnings power of the company and core is one, it's a big one, but we do look at other methods or things that we use to think about the true earnings power of the company. Let's conquer your financial goals together...faster.
And the expectations for next year are pretty rich. So from my perspective, it's always good to be able to show transactions on both sides of the coin. On an absolute basis, given the small percentage of the portfolio in that asset class, maybe not as much as you would think. And I will now turn the call over to Jay Lown for closing remarks.Thanks so much.
And as a result, we record the change in estimated fair value as a component of the net gain or loss on interest rate derivatives.Operating expenses were $3.4 million for the quarter. But would you look at that? Comprehensive income (loss) attributable to noncontrolling interests in
These forward looking statements are based upon the Company’s present expectations, but these statements are not guaranteed to occur. Cherry Hill Mortgage Investment Corp. Cherry Hill Mortgage Investment Corp. is a real estate finance company, which acquires, invests in and manages a portfolio of excess mortgage … This compares to earnings of $0.52 per share a year ago. Excluding that impact, book value was relatively comparable with the prior quarter. That's not an issue.So look, first, the correlation between stocks and bonds are completely broken. And we remain very in tune, in touch with that as a determinant in how we think about deploying capital.
One, we definitely wanted to concentrate on a strong balance sheet given everything around forbearance. And even on MSR, on the leverage side, we're still seeing on the low double-digit type side. But are you seeing any other ideas or maybe some other diversification or possibilities?That's actually a great question. As Jay mentioned, our book value per common share as of June 30, 2020, was $13.41, a reduction of $0.32 per share from March 31, 2020, net of the second quarter 2020 dividend.As we noted on our prior call, the accounting impact of paying half of our first quarter common dividend in shares of common stock was recognized in the second quarter, and that encompassed the large majority of our book value reduction from March 31. But as we looked at other components of thinking about our income, those other metrics came into play, and that was a consideration.The last thing I would mention is, as Julian mentioned, speeds are high. Operator?Thank you. During the second quarter, spread sector markets improved as liquidity returned, and spreads tightened on the heels of Fed policy. The team continues to work remotely with no disruption in productivity.The second quarter could be described as a rebuilding period, where we work to stabilize our portfolios and closely monitor our risk as the pandemic continued to greatly impact the economy in the country. Where can you -- I mean, pay-ups is the obvious answer, but they've got run-up so much. But I'm happy to kind of get that out with you on the side.So everyone we talked to was looking at a $3 trillion mortgage market or so, and some people brought that up in February. So that was definitely a consideration. World Headquarters. So my first question is that core EPS is well ahead of the dividend again. So I was just wondering if you're looking at it just given where the stock is trading today.So that's definitely a conversation we would have with the Board. Please proceed with your question.Yes. And so given what happened in March, that is exactly true.So I would -- yes, go ahead. Don't get too crazy getting into an asset class that you may have wanted to get into going into the crisis just because you think it might look cheap.