• Prior to joining NAD Inc., Mr. Schalk was a trader at Accredited Home Loans.

• 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 of 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.