Question-and-Answer Session
Operator
(Operator Instructions). And your first question comes from the line of Patrick O'Shaughnessy.
Patrick O'Shaughnessy - Raymond James & Associates, Inc.
Hey, good morning, guys.
Phil Pendergraft
Patrick, good morning, sir.
Kevin McAleer
Good morning, Patrick.
Patrick O'Shaughnessy - Raymond James & Associates, Inc.
First question I had was around your pipeline of new correspondents, it's has been relatively leveled a last few quarters. I was kind of curious is this kind of level that we can expect it to be on or do you anticipate a ramp-up in that pipeline as to your marketing efforts kind of gear a little bit more throughout 2009?
Kevin McAleer
Patrick, I think somewhere in this range is probably pretty realistic for the rest of the year. We added 17 new correspondents in the first quarter. And so we are continuing to see good additions to the correspondent base. I think that will keep the pipeline from ballooning. I think we're going to be in this 25 to 35 range, I would expect.
Patrick O'Shaughnessy - Raymond James & Associates, Inc.
Okay. Fair enough. And then kind of on a similar point, your number of accounts that you've severed your relationships with this past quarter was a little bit higher than the past two. Are you pretty much through the end of your process of examining the risk or your correspondents and becoming comfortable with where they stand and kind of who you want to continue your relationships with in the long run?
Phil Pendergraft
Patrick, we are not complete with that review. And so it would not surprise me if we had a higher than normal attrition rate in the -- or high than normal termination rate in the second quarter as well.
Patrick O'Shaughnessy - Raymond James & Associates, Inc.
Okay. And then just one real quick modeling question. As far as your consulting fees, is that something that we should expect to continue for the duration of '09 or was this 750,000 charge that you took in the first quarter kind of going to be the end of it?
Phil Pendergraft
We might have a small piece in April, but we are essentially done.
Patrick O'Shaughnessy - Raymond James & Associates, Inc.
Very good. I will jump back in the queue. Thanks guys.
Phil Pendergraft
Thank you.
Kevin McAleer
Thank you.
Operator
Your next question comes from the line of Mike Vinciquerra with BMO Capital Markets. Please proceed.
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