Leadership

Meet the Leaders Behind the Loans

Board of Directors

Lewis Ranieri

Board of Directors, Shellpoint Partners

Mr. Ranieri serves as Chairman and President of Ranieri & Co., Inc., an advisor and manager of private investments, and he is founder and Chairman of Ranieri Partners Management LLC, and its investment management companies focused on financial service opportunities. He previously was the prime originator and founder of Hyperion Partners.

Prior to forming Hyperion in 1988, Mr. Ranieri had been Vice Chairman of Salomon Brothers, Inc. (“Salomon”). He is generally considered to be the “father” of the securitized mortgage market. Mr. Ranieri helped develop the capital markets as a source of funds for housing and commercial real estate, established Salomon’s leadership position in the mortgage-backed securities area, and also led the effort to obtain federal legislation to support and build the market. At Salomon, Mr. Ranieri had responsibility for the firm’s activities in the mortgage, real estate and government-guaranteed areas.

Mr. Ranieri served on the Board of Directors of Computer Associates (now known as “CA Technologies”), the 11th largest software company in the world, from 2001-2007, and as its Chairman from 2004-2007. Mr. Ranieri oversaw the restructuring and turnaround of Computer Associates during that period.

Regarded as an expert and innovator in both the mortgage and capital markets, Mr. Ranieri has served on the National Association of Home Builders Mortgage Roundtable continuously since 1989. In recognition of his dedication and lifelong achievements in the housing industry, Mr. Ranieri was inducted into the National Housing Hall of Fame. He is also a recipient of the lifetime achievement award given by the Fixed Income Analysts Society, Inc. and was subsequently inducted into the FIASI Hall of Fame for outstanding practitioners in the advancement of the analysis of fixed income securities and portfolios. In November 2004, BusinessWeek magazine named him one of the “greatest innovators of the past 75 years,” and in 2005, he received the Distinguished Industry Service Award from the American Securitization Forum.

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Scott A. Shay

Board of Directors, Shellpoint Partners

Scott A. Shay is a Founding Partner of Ranieri Partners Management LLC and brings over 25 years of capital markets expertise to the firm. He has worked directly with Mr. Ranieri since 1981. He was a Managing Director of Ranieri & Co., Inc. and a Partner of Hyperion Partners. Mr. Shay was a Founder and has been the Chairman of the Board of Directors of Signature Bank since its inception. He has been involved in the investment banking and venture capital industries since 1980. Mr. Shay currently serves on the board of directors of Super Derivatives. Prior to joining Ranieri & Co., Inc. and Hyperion Partners, Mr. Shay was a director and senior member of the mergers and acquisitions department of Salomon Brothers, Inc.

While at Ranieri & Co. Inc. and Hyperion Partners, Mr. Shay worked with Mr. Ranieri in assembling Bank United’s constituent companies. He also was primarily responsible for the acquisition of two mortgage companies, both coincidentally named Commonwealth Mortgage, the combination of which became a top national mortgage originator/servicer. From October 1997 until August 2005, Mr. Shay served as a director of Bank Hapoalim, Signature Bank’s former parent company. From December 1988 until February 2001, he served as a director of Bank United Corp. In addition, Mr. Shay was Chairman of the Bank United Corp.’s Audit Committee for six years.

Mr. Shay received his M.M. from Northwestern’s Kellogg Graduate School of Management and his B.A. in Economics from Northwestern University, where he was elected to the Phi Beta Kappa society.

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James B. Lockhart III

Board of Directors, Shellpoint Partners

James B. Lockhart III is Vice Chairman of WL Ross & Co. LLC and a member of the Office of the Chairman and Investment Committees for the WLR Recovery Funds and Invesco Mortgage Recovery Fund. His responsibilities include overseeing financial services portfolio companies and sourcing new opportunities in the financial services industry. Prior to joining WL Ross in September 2009, he was the Director of the Federal Housing Finance Agency, regulator of Fannie Mae, Freddie Mac and the twelve Federal Home Loan Banks, and its predecessor agency, the Office of Federal Housing Enterprise Oversight, since May 2006. He served as the Chairman of Federal Housing Finance Oversight Board and a member of the Financial Stability Oversight Board with the Chairman of the Federal Reserve Board, the Secretaries of Treasury and HUD, and the Chairman of SEC. For the prior 4 years Mr. Lockhart was the Deputy Commissioner and Chief Operating Officer of Social Security, Secretary to its Board of Trustees and a member of President Bush’s Management Council. Mr. Lockhart also served in the previous Bush Administration as Executive Director of the Pension Benefit Guaranty Corporation from 1989 until 1993.

Mr. Lockhart co-founded and served as managing director of NetRisk, a risk management software and consulting firm serving major financial institutions, banks, insurance companies and investment management firms worldwide. He held senior positions at National Reinsurance, Smith Barney, Alexander & Alexander and Gulf Oil, in Europe and the U.S. He has served as a member of the American Benefits Council’s Board of Directors and of the Advisory Board to the Task Force for the Critical Review of the US Actuarial Profession. He is a director of Virgin Money in the U.K., Bank of the Cascades, Capital Markets Cooperative, Shellpoint Partners and the Bruce Museum. In 2009, he received The American Financial Leadership Award from the Financial Services Roundtable. He is a Fellow of the Association of Corporate Treasurers in the UK. Mr. Lockhart is a co-chair with Senator Conrad (D-ND) on the Bipartisan Policy Center’s Commission on Retirement Security and Personal Savings.

Mr. Lockhart graduated from Yale University with a BA and received an MBA from Harvard Business School. He served as a Lieutenant (j.g.) in the U.S. Navy aboard a nuclear submarine.

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Nathan A. Taylor

Board of Directors, Shellpoint Partners

Nathan A. Taylor is a Vice President for WL Ross & Co. LLC. In this role, he supports the firm’s efforts originating and monitoring private equity investments.

Mr. Taylor joined WL Ross & Co. in 2013. From 2010 to 2012, he was an Associate for Prospect Capital Management, a private equity and mezzanine debt investment firm. From 2008 to 2010, Mr. Taylor worked in the mergers and acquisitions advisory practice of Lazard. Mr. Taylor has been in the industry since 2008.

Mr. Taylor received an A.B. in Economics, cum laude, from Harvard College.

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Stephen Trevor

Board of Directors, Shellpoint Partners

Mr. Trevor is a Senior Managing Director responsible for the investment activities for the distressed-for-control strategies. Prior to joining Avenue, Mr. Trevor was a Managing Director at Morgan Stanley, a member of the Firm’s Management Committee and Global Co-Head of the Firm’s Merchant Banking Division and Private Equity Group. Mr. Trevor joined Morgan Stanley in 2007 from Goldman Sachs, where he was a Managing Director in the Principal Investment Area, Co-Heading its Industrials Investing effort, and was a member of the Investment and Operating Committees. He joined Goldman Sachs’ New York office in 1992, working in Energy and Power. In 1994, Mr. Trevor moved to Hong Kong and worked first in Corporate Finance and then in the Real Estate Principal Investment Area. From 1999 to 2004, Mr. Trevor was based in London and led Goldman Sachs Capital Partners’ investing activities in Germany. He became a Managing Director at Goldman Sachs in 1999 and a Partner in 2002. He served on the Board of Directors for various Goldman Sachs portfolio companies including Berry Plastics Corporation, Capmark Financial Group, Cobalt International Energy, L.P., Cognis, Deutsche Kabel, Messer Griesheim Holding, Wincor Nixdorf, and others. Mr. Trevor holds a B.A. from Columbia College and an M.B.A. from Harvard Business School. He was a member of the United States Olympic Fencing Teams in 1984 and 1988.

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Saul Sanders

Co-CEO, Shellpoint Partners

Saul Sanders is the Co-CEO of Shellpoint Partners, and also serves on the Board of Directors. Previously, he was one of the founders of C-BASS in 1996, and in 2007, after his retirement from the organization, he returned at the request of the Board of Directors to help with its successful restructuring. C-Bass was a leading purchaser, servicer, issuer and investor of non-agency loans. He was Vice President at Goldman Sachs & Co. in their mortgage-backed securities department, and was the founder of their asset-backed securities department. He also served as Managing Director of Citicorp Securities, Inc., and other roles including special purpose mortgage subsidiaries of Citicorp. He was responsible for structuring, warehouse lending, single family and commercial real estate mortgage securitization in Citicorp’s North American Global Finance Group and specialized tax investments.

Mr. Sanders received a B.S. degree summa cum laude and an M.B.A degree with distinction from the Wharton School at the University of Pennsylvania. Mr. Sanders is a Certified Public Accountant. Mr. Sanders is a Trustee and member of the Executive Committee of the Jewish Theological Seminary, a Trustee of the Joyce Theatre Foundation and a former Trustee of the Joffrey Ballet.

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Bruce Williams

Co-CEO, Shellpoint Partners

Bruce Williams serves as Co-CEO of Shellpoint Partners, and also serves on the Board of Directors. He was one of the founders, and had been the CEO, of C-BASS since its formation in July 1996, and in 2007, after a brief retirement, he returned at the request of the Board of Directors to lead the negotiations with C-BASS’ creditors to help with its successful restructuring. Previously, Mr. Williams held various senior level positions at Paine Webber, including trading, finance, sales, and research for all mortgage related and asset-backed related products. He was also Managing Director at Citicorp Securities, Inc., with various responsibilities for both commercial and residential mortgage products.

Mr. Williams received a B.B.A. degree from The College of William and Mary, an M.B.A. degree from Rutgers University, and a post-­graduate degree in accounting from New York University. Mr. Williams is a Trustee Emeritus of The College of William and Mary.

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Management Team

Saul Sanders

Co-CEO, Shellpoint Partners

Saul Sanders is the Co-CEO of Shellpoint Partners, and also serves on the Board of Directors. Previously, he was one of the founders of C-BASS in 1996, and in 2007, after his retirement from the organization, he returned at the request of the Board of Directors to help with its successful restructuring. C-Bass was a leading purchaser, servicer, issuer and investor of non-agency loans. He was Vice President at Goldman Sachs & Co. in their mortgage-backed securities department, and was the founder of their asset-backed securities department. He also served as Managing Director of Citicorp Securities, Inc., and other roles including special purpose mortgage subsidiaries of Citicorp. He was responsible for structuring, warehouse lending, single family and commercial real estate mortgage securitization in Citicorp’s North American Global Finance Group and specialized tax investments.

Mr. Sanders received a B.S. degree summa cum laude and an M.B.A degree with distinction from the Wharton School at the University of Pennsylvania. Mr. Sanders is a Certified Public Accountant. Mr. Sanders is a Trustee and member of the Executive Committee of the Jewish Theological Seminary, a Trustee of the Joyce Theatre Foundation and a former Trustee of the Joffrey Ballet.

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Bruce Williams

Co-CEO, Shellpoint Partners

Bruce Williams serves as Co-CEO of Shellpoint Partners, and also serves on the Board of Directors. He was one of the founders, and had been the CEO, of C-BASS since its formation in July 1996, and in 2007, after a brief retirement, he returned at the request of the Board of Directors to lead the negotiations with C-BASS’ creditors to help with its successful restructuring. Previously, Mr. Williams held various senior level positions at Paine Webber, including trading, finance, sales, and research for all mortgage related and asset-backed related products. He was also Managing Director at Citicorp Securities, Inc., with various responsibilities for both commercial and residential mortgage products.

Mr. Williams received a B.B.A. degree from The College of William and Mary, an M.B.A. degree from Rutgers University, and a post-­graduate degree in accounting from New York University. Mr. Williams is a Trustee Emeritus of The College of William and Mary.

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Jerry Schiano

CEO/President, New Penn Financial

Jerry Schiano is the founder and CEO of New Penn Financial, and serves on the Board of Directors of Shellpoint Partners. He was the founder and CEO of Wilmington Finance Inc., a top-15 originator of non-agency residential loans with over 2000 employees. He sold Wilmington Finance to American General Insurance, a subsidiary of AIG, in 2002 and continued to manage the Company for another four years. Mr. Schiano was also Sr. Vice President of ContiMortgage Corporation where he was responsible for marketing and sales force management in both the correspondent and retail call center divisions.

Originally from New York, Mr. Schiano is a magna cum laude graduate of C.W. Post Long Island University with a B.S. in Marketing and Economics.

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W. Robert Magee, Jr.

Chief Investment Officer, Shellpoint Partners

Robert Magee is the Chief Investment Officer at Shellpoint Partners. He was a founding member of C-BASS, and was responsible for the investment and trading activities at the firm pertaining to whole loans. He subsequently was the non-agency portfolio manager at Citadel Investment Group, where he started that firm’s non-agency business. Mr. Magee began his career in the securities industry in 1988 writing mortgage securities modeling software, and held a number of positions within Citibank Securities Fixed-Income Research Group prior to trading agency ARM securities for the firm.

Mr. Magee holds a B.S. in Physics and Mathematics from Haverford College, and an M.S. in Physics from the University of Illinois at Urbana-Champaign.

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Elwood F. Collins

General Counsel, Shellpoint Partners

Woody Collins is the General Counsel and a Senior Vice President of Shellpoint Partners, and is responsible for all aspects of legal affairs. He has spent more than forty years in private practice, most recently as a partner of the law firm of K&L Gates where he served for over a decade as the Administrative Partner of the firm’s New York office and a member of the Management Committee. He specializes in securitization and structured finance, mortgage finance, and real estate. He acted as outside counsel to C-BASS for many years

Mr. Collins received a B.A. in English from Fordham College and a J.D. from New York University School of Law.

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Joe McSherry

Chief Financial Officer, Shellpoint Partners

Joe McSherry is the CFO of Shellpoint Partners. He was Director of Financial Control for C-BASS and CFO of C-BASS Capital. Previously, he held various positions in Big Four accounting firms, including President, Chief Operating Officer, Chief Financial Officer and Director of Financial Control for firms such as PricewaterhouseCoopers, Credit Suisse First Boston, Brown Brothers Harriman, Asset Growth Partners, Bluestone Capital and start-ups that he either founded or brought to the public markets.

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Jack Navarro

President, Shellpoint Mortgage Servicing

Mr. Navarro is the President of Shellpoint Mortgage Servicing. Mr. Navarro most recently served as a Managing Director in the Mortgage Group at Goldman Sachs, subsequent to their purchase of Litton Loan Servicing (Litton). Mr. Navarro also served as a Senior Managing Director and member of the Executive Committee of C-Bass for more than 10 years, and in that role was responsible for the development and growth of Litton, a special servicer with 1,800 people and more than $400M in revenue.

A real estate and mortgage/special servicing veteran, he spent the 19 years before C-Bass with Prudential and Merrill Lynch developing a variety of realty and mortgage related businesses.

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