National Asset Direct Announces Addition of Three Seasoned Professionals from Accredited Home Lenders to Its Senior Management Team

May 16, 2008 11:30 AM EDT

SAN DIEGO--(BUSINESS WIRE)--

National Asset Direct ("NAD"), a purchaser of distressed residential assets and loans, today announced the addition of Ray Schalk, Melissa Dant and Jill Parker, all formerly of Accredited Home Lenders, to its senior management team.

Louis Amaya, Chief Investment Officer and Chief Operating Officer of NAD, said, "We are very fortunate to welcome Ray, Melissa and Jill to our team of highly talented investment professionals. We are confident that their considerable skills and relevant experience with Accredited Home Lenders will enable them to make significant contributions to National Asset Direct as we work to capture the maximum value from our growing portfolio."

Mr. Schalk joined NAD's whole loan trading team from Accredited Home Lenders, where he sold loans and participated in the securitization of sub-prime and ALT-A loans for the Capital Markets Group. In his role as a whole loan trader at NAD, Mr. Schalk is responsible for all aspects of loan acquisitions, including maintaining communication with sellers at all levels to ensure smooth and successful transactions, monitoring trends surrounding credit and real estate markets, and managing assumptions of NAD's pricing model.

As NAD's General Counsel, Ms. Dant is a member of the senior management team and responsible for all legal affairs of the entire company and its affiliates. She is responsible for ensuring that the business affairs of the company are carried out in compliance with existing laws and administrative regulations and in a manner which is both economical and consistent with the best business and ethical interests of the company. Additional functional roles include legal accountability for regulatory oversight, corporate governance, litigation, employment, servicing, and contract management including whole loan and REO purchases and warehouse borrowing. Prior to joining NAD, Ms. Dant was Associate General Counsel at Accredited Home Lenders, where she specialized in secondary markets, whole loan trading, warehouse financing and securitizations.

Ms. Parker, NAD's Director of Project Management, has a deep understanding of NAD's business strategy, market position, key competitors, mission, vision and future initiatives, and is responsible for all NAD and iServe (Mortgage, Real Estate, Servicing) projects. She also oversees and serves as a mentor to all NAD project managers. Her role includes reporting on NAD's total project portfolio; focusing on project milestone and delivery dates, costs, resources, issues and risks; carrying out and developing new project management policies, procedures and best practices; and evaluating and selecting project management tools/software to facilitate daily project responsibilities. Ms. Parker previously managed the Project Office for Accredited Home Lenders, where she led several large-scale multi-million dollar software development/integration projects.

About National Asset Direct

National Asset Direct Inc. (NAD) was launched in October of 2006 as a principal buyer of a broad array of performing, sub-performing and non-performing residential assets. NAD has established trusted relationships with a wide spectrum of financial institutions, investments banks, mortgage banks, and thrifts looking to manage liquidity, operational flow, or loss severity, and has built an outstanding team of experienced senior managers from the top mortgage servicers/originators in the industry, including GMAC RFC, Homecomings Financial, Option One Mortgage, Peoples Bank, Suntrust Mortgage, EMC and Accredited Home Lenders. For more information, please visit www.nationalassetdirect.com.

About Ray Schalk

Prior to joining NAD, Mr. Schalk was a trader at Accredited Home Lenders. At Accredited, Mr. Schalk worked within the Capital Markets group selling loans and participating in the securitization of sub-prime and ALT-A loans. Mr. Schalk also has experience in underwriting commercial loans for CMBS deals and 6+ years experience in default real estate servicing, working with foreclosures, bankruptcies and REO dispositions. Mr. Schalk holds a Bachelor of Science degree in Finance and Accounting from San Diego State University.

About Melissa Dant

Prior to joining NAD, Ms. Dant was the Associate General Counsel at Accredited Home Lenders. At Accredited, Ms. Dant specialized in secondary markets, whole loan trading, warehouse financing and securitizations in the United States and Canada from both a business and legal perspective. Ms. Dant has over 6 years of experience in the residential lending arena and almost 18 years experience as a business-oriented finance, real estate and secured transaction attorney. Ms. Dant holds a Bachelor of Arts degree in Economics from the University of California at Irvine and a Juris Doctor from the University of Southern California where she was a member of the Southern California Law Review.

About Jill Parker

Prior to joining NAD, Ms. Parker managed the Project Office for Accredited Home Lenders and led several large-scale multi-million dollar software development/integration projects. Ms. Parker's Project Management experience spans 13 years within the financial sector with the most recent four years in the mortgage space. Ms. Parker has significant experience in process and operations efficiency and improvements through technology implementation including Automated Underwriting & Servicing, Broker/AE Portal, document imaging, EDI, and payment processing. Ms. Parker holds a Bachelor of Science in Psychology from Purdue University and a Masters in Business Administration from Franklin University. In addition, Ms. Parker is an active member of the Project Management Institute Association.

Source: National Asset Direct Inc.

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