Executive Leadership

Officers of Triad Guaranty Inc.

Mark K. Tonnesen
President and Chief Executive Officer

Kenneth W. Jones
Senior Vice President and Chief Financial Officer

Earl F. Wall
Senior Vice President, Secretary and General Counsel

Kenneth S. Dwyer
Vice President and Chief Accounting Officer

Julia H. Turner
Assistant Vice President, Assistant Secretary and Assistant General Counsel



Senior Officers of
Triad Guaranty Insurance Corporation

Mark K. Tonnesen
President and Chief Executive Officer

800-451-4872 ext. 1101 or mtonnesen@tgic.com

Mark Tonnesen became President, Chief Executive Officer and a Director of the Company on September 14, 2005. He has more than 20 years of experience in the financial services and banking industry. In 1997, Mr. Tonnesen joined the Royal Bank of Canada, Toronto, where he held a number of positions, including Vice Chairman and Chief Financial Officer, RBC Insurance and Executive Vice President, Card Services and Point of Sale. Mr. Tonnesen worked at Banc One Corporation, Columbus, Ohio, from 1987 to 1997, where he served in a variety of senior positions.

Kenneth C. Foster
Executive Vice President - Structured Transactions and Business Development

800-451-4872 ext. 1114 or kfoster@tgic.com

Ken Foster joined Triad in June 2001 and has been Executive Vice President, Structured Transactions and Business Development of the Company since November 2006. Prior to joining Triad, Mr. Foster was a Principal of Applied Mortgage Solutions from 1994 to 2001. Mr. Foster was employed by MGIC from 1980 to 1994, most recently as Vice President, Business/Information Development. Mr. Foster has been associated with Triad for 11 years and in the insurance/mortgage industry for over 33 years.

Bruce Van Fleet
Executive Vice President - Sales and Marketing

800-451-4872 ext. 1112 or bvanfleet@tgic.com

Bruce Van Fleet joined Triad in April 2007. He has over 30 years experience in the mortgage industry leading sales organizations. Prior to joining Triad, he was with Radian Guaranty Inc., where he held a variety of senior sales and operations management positions, most recently as Executive Vice President, Chief Sales Officer. Prior to Radian, Mr. Van Fleet was with Strategic Mortgage Services as Senior Vice President, Corporate Sales.

Douglas D. Beaty
Senior Vice President - Field Sales

512-358-0345 or dbeaty@tgic.com

Doug Beaty has been with Triad since September 1995 and has served in his current position since January 2005. He has over 35 years experience in the mortgage banking industry and has held key management positions with various companies prior to joining Triad. Mr. Beaty currently serves on the Board of the Texas Mortgage Bankers Association.

Shirley A. Gaddy
Senior Vice President - Operations

800-451-4872 ext. 1180 or sgaddy@tgic.com

Shirley Gaddy joined Triad in 1996 and has been Senior Vice President of Operations since April 2002. Ms. Gaddy was employed by Life of the South from 1995 to 1996 as Assistant Vice President. She was with Integon Life Insurance Corporation from March 1972 to December 1994, most recently as Assistant Vice President, Manager Credit Insurance. Ms. Gaddy has been in the insurance/mortgage industry for over 33 years.

Stephen J. Haferman
Senior Vice President - Risk Management and Information Services

800-451-4872 ext. 1200 or shaferman@tgic.com

Steve Haferman has been Senior Vice President, Risk Management and Information Services since April 2006. He was the Chief Operating Officer of Cheryl and Co. from 2003 to 2006, responsible for Strategic Planning, Analytics, and Technology. His previous experience includes Vice President, Marketing Information Systems at Electric Power; various positions at Banc One and at National City Bank. Mr. Haferman has over 20 years experience in the retail, financial and banking industries.

Madeline Johnson-Oler, CMB
Senior Vice President, Director - Capital Markets

301-977-8226 or mjohnson-oler@tgic.com

Madeline Johnson-Oler has been at Triad since 2000, most recently as Senior Vice President, Director, Capital Markets. She has extensive experience in the mortgage industry. Prior to joining Triad, she was a Senior Consultant with Mortgage Dynamics, Inc. Ms. Johnson-Oler is the Chairman and past President of the Mortgage Bankers Association of Metropolitan Washington, D.C. She has lectured on risk management and co-authored a risk management chapter in the "Handbook of Secondary Marketing." Ms. Johnson-Oler is a Master Certified Mortgage Banker (CMB) and Fellow of the Society of Certified Mortgage Bankers.

Kenneth W. Jones
Senior Vice President and Chief Financial Officer

800-451-4872 ext. 1105 or kjones@tgic.com

Ken Jones has been Senior Vice President and Chief Financial Officer since April 2006. He served as Senior Vice President of RBC Liberty Insurance from 2000 to 2005. Mr. Jones worked at The Liberty Corporation from 1994 to 2000, most recently as Vice President and Acting Chief Financial Officer. From 1980 to 1994, Mr. Jones was employed by Ernst & Young. He has been associated with the insurance/mortgage industry for over 25 years.

Earl F. Wall
Senior Vice President, Secretary and General Counsel

800-451-4872 ext. 1108 or ewall@tgic.com

Earl Wall has been with Triad since January 1996 and serves as Senior Vice President, General Counsel and Secretary. From 1982 to 1995, Mr. Wall was employed by Integon in a number of capacities including Vice President, Associate General Counsel, and Director of Integon Life Insurance Corporation and Georgia International Life Insurance Corporation, Vice President and General Counsel of Integon Mortgage Guaranty Insurance Corporation, and Vice President, General Counsel, and Director of Marketing One, Inc. Mr. Wall has over 23 years in the insurance/mortgage industry.

Kenneth S. Dwyer
Vice President and Chief Accounting Officer

800-451-4872 ext. 1137 or kdwyer@tgic.com

Ken Dwyer has been Vice President and Chief Accounting Officer of Triad Guaranty since September 2003. Mr. Dwyer served as Vice President and Controller of Jefferson Pilot from 1997 to 2003. He was the Vice President and Controller of Pan American Life Insurance and was also employed by Deloitte & Touche as a senior manager.

Kathleen M. Fairall
Vice President - Human Resources

800-451-4872 ext. 1130 or kfairall@tgic.com

Kathleen Fairall has been Vice President of Human Resources since February 2006. Prior to joining Triad, Ms. Fairall was employed with Sara Lee Branded Apparel, serving most recently as Director, Talent Acquisition. She has worked in various human resource roles at Ingersoll-Rand, Black & Decker and the Timken Company. Ms. Fairall is a former army officer, having served from 1981 - 1991. She has over 15 years of human resources management experience.









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