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60 SPECIAL ADVERTORIAL SECTION Risk Management/Due Diligence CLAYTON HOLDINGS LLC KEY PERSONNEL Jeff Tennyson President Mark Hughes EVP of Business Development and Industry Affairs Patrick Cosgriff SVP of Transaction Management Andrew Pollock Senior Managing Director and Head of Clayton Consulting John Levonick Director of Regulatory Compliance STAFFING » Number of company employees: 1,000 BUSINESS LINES, SERVICES & PRODUCTS: Clayton Holdings LLC, a subsidiary of Radian Group Inc. (NYSE: RDN), provides risk- based analytics, residential loan due diligence, consulting, surveil- lance, and staffing solutions. The company's subsidiaries include Green River Capital (customized REO asset management and single- family rental services), Red Bell Real Estate (advanced AVMs, BPOs, and technology to acquire and track performance of loan portfolios and NPLs), ValuAmerica (national title and appraisal management company and vendor management technology provider), and Clayton Euro Risk (global services). CORPORATE DETAILS: 6302 East MLK Boulevard, Suite 300, Tampa, FL, 33619 877.291.5301 | 203.712.8805 fax | sales@clayton.com | clayton.com COMPANY DESCRIPTION Clayton provides information and services that financial institutions, investors and government entities use to evaluate, acquire, securitize, service and monitor loans and asset-backed securities. Clayton conducts its business with uncompromising transparency and integrity and its employees are com- mitted to upholding solid principles of corporate gover- nance. As part of its overall governance, Clayton's sys- tem of internal controls includes organizational design, written policies and procedures, operating practices and controls to protect people and assets. This integration of key activities helps identify irregularities and reduce risk to a reasonable level as quickly as possible. COMPANY HISTORY Founded in 1989, Clayton pioneered both the residential due diligence and servicer surveillance industries. Since that time, Clayton has performed due diligence file reviews on more than 12 million loans and has performed surveil- lance/oversight on more than $2 trillion in original balance. COMPETITIVE ADVANTAGE Clayton offers unparalleled breadth and depth and is uniquely positioned to bring impartial, effective solutions to current market challenges and provide the most robust experience to its clients. The company is confident that its clients will realize great benefits from Clayton's experience, advice, cus- tomized services and objectivity. CLAYTON'S DIFFERENTIATORS INCLUDE: PIONEERING THE RESIDENTIAL LOAN DUE DILIGENCE INDUSTRY » Largest and longest-standing due diligence firm in the industry. » Due diligence workforce of hundreds of underwriters and team leads. » Clayton is an approved S&P and DBRS RMBS third- party review (TPR) provider and meets the standards of Moody's, Fitch Ratings, and Kroll Bond Ratings for pre- securitization due diligence. PIONEERING CREDIT RISK MANAGEMENT/LOAN SURVEILLANCE » Possesses a broad and vast array of historical transaction data. » Significant experience performing targeted reviews of assets to assess compliance with representations, regulatory and legal requirements, investor guidelines and settlement agreements, performing over 150,000 such reviews per year. » Depth of experience that includes providing advisory services, asset management services, and loan review/ due diligence for all property and credit types. REGULATORY KNOWLEDGE » Clayton offers expertise in major regulatory compliance guidelines including TILA, ATR/QM, RESPA, FACTA, HMDA and the new NRSRO rules. » Clayton was selected by Weiner Brodsky Kider to provide loan review expertise in their CFPB Examination readiness program. TEAM OF INDUSTRY EXPERTS » Beyond tools and technology, Clayton offers an experienced team of motivated, hard-working industry experts. Clayton's employees are outstanding at what they do, and their knowledge and professionalism are consistently recognized and acknowledged by our clients. » Clayton's subject-matter experts have held significant positions in the banking and residential real estate industries and bring years of lending and operating experience to Clayton. The company's project teams possess best-practices knowledge of banking, finance and residential real estate operations, from origination through servicing, workouts and REO. They perform in-depth analyses of both the quantitative and qualitative aspects of all forms of residential real estate management, loan file reviews and servicing. CORPORATE STRATEGIES/GOALS With the support of its parent, Radian, Clayton is continuing to invest significantly in infrastructure and resources to create more innovative solutions and expand to new markets. Last year, the company began offering Asset Representations Reviewer Services to maximize transparency and value for security investors. This year, Clayton received the industry's first rank- ings from Morningstar Credit Ratings, LLC as both a Residential Mortgage Backed Securities Deal Agent and as a Residential Representation and Warranty Reviewer. In both categories, Clayton was ranked MOR RV2 with a forecast of "Stable." In addition, the company opened a consulting office in Silicon Valley to help serve the growing number of financial technology companies being formed in the San Francisco Bay Area, particularly those involved in the mortgage and consumer lending markets. Clayton is helping these companies bridge the gap between the innovative technology being developed and the reality of operating in a highly-regulated, well-entrenched industry by providing consultants, operating procedures and data.