Board of Directors

William T. Ratliff, III
William Ratliff has been the Chairman of the Board of the Company since 1993 and served as Chief Executive Officer and President of Triad from July 2008 to October 2008. Mr. Ratliff was Chairman of the Board of Triad from 1989 to 2005 and from August 1, 2008 to present and President of Collateral Investment Corp. ("CIC"), an insurance holding company, from 1990 to 2005. Mr. Ratliff has also been President of Collat, Inc. since 1995 and a director since 1987. Collat, Inc. is the general partner of Collateral Holdings, Ltd., an investment partnership. Mr. Ratliff, III was Chairman of the Board of Directors of New South Federal Savings Bank ("New South") from 1986 to December 2009, served as President and Chief Executive Officer of New South from January 2006 to September 2006 and from July 2009 to December 2009, served as President of New South Bancshares, Inc., New South's parent company ("New South Bancshares"), from 1994 to December 2009, and has served as a director of New South Bancshares since 1994.

H. Lee Durham, Jr.
Mr. Durham was with PricewaterhouseCoopers in a number of senior management positions from 1990 to 2002. From 1980 to 1990 he was with Durham, Martin, Jenkins & Co., a firm he founded and grew until it was merged into Coopers & Lybrand. Since 2003, Mr. Durham has served on the board of First Citizens BancShares, Inc. and currently serves as Chair of their Audit Committee.

Deane W. Hall
Mr. Hall retired from JP Morgan Chase in April 2006 after serving in numerous senior management roles over his seventeen (17) years with their mortgage subsidiary, Chase Home Finance. He was a member of Chase Home Finance Board of Directors during that period. In addition, Mr. Hall served on the Board of Directors of Mortgage Electronic Registration System (MERS). His prior experience also includes five (5) years with Fannie Mae. Mr. Hall currently serves as a member of the Board of Directors of CSI, Inc., a nationwide staffing company headquartered in Jacksonville, FL.

Kenneth W. Jones
Mr. Jones is the President, Chief Executive Officer and Principal Financial Officer of Triad Guaranty Insurance Corporation. Prior to his current position, Mr. Jones served as Senior Vice President and Chief Financial Officer from April 2006 to October 2008. He has over 25 years of experience in the financial management of companies. Prior to joining Triad, he served as a vice president with IBM Insurance Services from January 2005 to April 2005 and was employed by RBC Liberty Insurance Corporation, where he served as Senior Vice President and Chief Financial Officer from November 2000 to December 2004. During the period from May 2005 to March 2006, Mr. Jones transitioned his family from South Carolina to North Caroina prior to joining Triad in April 2006. Previously, Mr. Jones was associated with The Liberty Corporation where he held a number of management positions, most recently Vice President, Controller and Acting Chief Financial Officer. Prior to joining The Liberty Corporation, he was employed by Ernst & Young LLP for 14 years.

David W. Whitehurst
Mr. Whitehurst is the owner of DW Investments, LLC, a real estate and investment holding company. He was Executive Vice President and Chief Operating Officer of Collateral Investment Corporation from 1995 to 2002. He was a director of New South Federal Savings Bank from 1989 to 2001. Mr. Whitehurst is a certified public accountant.