Credentia Group LLC

Management Bios

Michael L. Bamburg - Co-Founder.

Mr. Bamburg is a co-founder of Credentia. Prior to that he was Sr. VP & Chief Investment Officer of NovaStar Financial, Inc. Mr. Bamburg's responsibilities at NFI were managing the company's portfolio of mortgage assets (including all hedging thereof), interacting with the capital markets on all secondary market transactions, including overseeing the securitization and sale of mortgage loan production, and developing new business lines for the Company. Prior to joining NovaStar in February 1998, Mr. Bamburg served as a Principal of Smith Breeden Associates, a financial institution consulting and money management firm specializing in the evaluation and hedging of Mortgage Backed Securities. Mr. Bamburg spent over 11 years with Smith Breeden where he analyzed and traded Mortgage Backed Securities and consulted with various financial institutions regarding investments and asset/liability management issues. During the last three years with Smith Breeden, Mr. Bamburg spent most of his time marketing Smith Breeden's money management products. He has a BS in Business Administration and an MBA in Finance from the University of Kansas.

Wayne Fang, - Co-Founder.

Mr. Fang's responsibilities at Credentia are to build and maintain the risk management and investment tools to manage the company's investments in ABS securities. Prior to joining Credentia, Mr. Fang had been with NovaStar since 1997, most recently holding the position of VP of Analytics, where his main responsibility was to build and manage the portfolio risk management system, develop valuation models for whole loans, residuals and ABS securities, and perform portfolio credit and prepayment analysis. Prior to joining NovaStar, he served as a quantitative analyst for DeMarche Associates, a pension and investment consulting firm. His responsibility included developing equity risk factor models, analyzing investment strategies, and evaluating portfolio performance. Mr. Fang has extensive knowledge and analytical experience in investment valuation and risk management. He has a BS in Management Science, an MS in Econometrics and Quantitative Analysis from Fudan University Management School in China, and an MS in Economics from University of Missouri - Kansas City.

Keith Kuenzel - Financial Analyst.

Mr. Kuenzel assists with the day-to-day trading and reporting activities of the company's portfolio of mortgage assets. Mr. Kuenzel holds a BS in Business Administration from the University of Missouri - Columbia.

Huaiyu Ren - Financial Analyst. Mr. Ren's responsibilities are maintenance of company database and assistance with programming and hardware upkeep, and conducting quantitative analysis using proprietary valuation and risk management models. Mr. Ren has a BS in Mathematics from Wuhan University in China and M.A. in Mathematics from Johns Hopkins University.