NMI Holdings Culture Company

Mr. Bradley M. Shuster, also known as Brad, has been the Chairman and Chief Executive Officer of NMI Holdings, Inc. and National Mortgage Insurance Corporation since April 2012. Mr. Shuster served as the President of NMI Holdings, Inc. from April 2012 to December 31, 2014. From 2008 to 2011, Mr. Shuster has held various consulting positions assisting private investors with evaluating opportunities in the insurance industry. He served as the President of International and Strategic Investments at The PMI Group, Inc. since January 1, 2003. He served as the President and Chief Executive Officer of PMI Capital Corporation, a subsidiary of PMI Group Inc. since January 1, 2003. He served as an Executive Vice President of Corporate Development of PMI Group and PMI since February 1999. He served as Senior Vice President, Treasurer and Chief Investment Officer of PMI since joining it in August 1995. He manages international mortgage insurance operations, lender services, financial guaranty and strategic investments for the PMI Group. He served as Audit Partner with the accounting firm of Deloitte & Touche LLP from May 1988 to July 1995. Mr. Shuster served as the Chairman and Director for PMI Holdings (Aust) Pty Ltd., QBE Lenders' Mortgage Insurance Limited (alternate name: PMI Mortgage Insurance Ltd.) and PMI Indemnity Limited, subsidiaries of PMI Group Inc. He served as Chairman of PMI Australia. He served as the Chairman of Select Portfolio Servicing, Inc. and serves as its Director. He has been Director at McGrath Rentcorp since July 31, 2017. He serves as a Director of Fairbanks Capital Corp., FGIC Corporation. He has been a Director at Luther Burbank Corp. since 1999. Mr. Shuster served as a Director of PMI Capital Corp., Financial Guaranty Insurance Corp., and PMI Europe. He served as an Independent Director of Intraware, Inc. from May 2004 to January 7, 2009. He served as a Director of American Overseas Reinsurance Company Limited (alternate name, RAM Reinsurance Company Ltd.) until October 31, 2008 and American Overseas Group Limited (formerly RAM Holdings Ltd.) from March 2008 to October 31, 2008. He is a Chartered Financial Analyst and a Certified Public Accountant. He holds a B.S. degree from the University of California, Berkeley and an M.B.A. from the University of California, Los Angeles.

Mr. Nicholas Ondrejka has been Senior Vice President and Chief Information Officer of NMI Holdings, Inc. since October 4, 2017. Mr. Ondrejka has over 20 years of experience in the mortgage and banking industries. Prior to National MI, he was Chief Technology Officer at Bank of Hawaii. He served as Senior Vice President and Applications Manager at Bank of Hawaii since March 2013. Prior to joining Bank of Hawaii, he was Senior Vice President and Chief Technology Officer at Wells Fargo & Company in Salt Lake City. He also held roles similar to Chief Technology Officer at JPMorgan Chase and First Republic Bank. He earned a B.A. from the University of Pennsylvania and an M.B.A. from the University of Pennsylvania's Wharton School of Business.

Ms. Claudia J. Merkle has been the Chief Operating Officer of NMI Holdings, Inc. since Septnember 12, 2016. Ms. Merkle has been the Chief Operating Officer of National Mortgage Insurance Corporation since September 12, 2016. She served as the Chief of Insurance Operations and Executive Vice President at NMI Holdings, Inc., from 2013 to September 12, 2016. Ms. Merkle served as Vice President of National Account Operations at PMI Mortgage Services Co. (PMI Mortgage Insurance Co). since November 2005. Ms. Merkle joined PMI in 1996 as Managing Director of the Northeast Region. Ms. Merkle joined NMIH in may 2012 as its Senior Vice President of underwriting fulfillment & risk operations. Ms. Merkle served as Vice President of national & regional accounts, risk and operations at PMIC from 1996 to 2012. she has held previous executive leadership positions within the mortgage banking and mortgage insurance industries, including both national and regional business development, operations and risk management. In her career, Ms. Merkle served as Vice President, Regional Manager at meridian mortgage, from 1990 to 1996, managing retail mortgage originations. she held roles at Wachovia bank in training, retail mortgage origination, underwriting, operations and community reinvestment act lending. Ms. Merkle has 25 years of experience in mortgage banking, mortgage insurance, business development and operations. Ms. Merkle holds B.S. in management from the Wharton School of Business at the University of Pennsylvania in 2006.

Mr. Adam Pollitzer serves as Chief Financial Officer of National Mortgage Insurance Corporation, a subsidiary of NMI Holdings, Inc. Mr. Pollitzer has been Chief Financial Officer and Executive Vice President of NMI Holdings, Inc. since May 2, 2017. Mr. Pollitzer served as a Managing Director of J.P. Morgan's Corporate and Investment Banking division, where he led advisory and capital raising efforts on behalf of North American insurance companies. He served in multiple leadership positions during his 15-year tenure at J.P. Morgan. He holds a bachelor's degree in business administration from the Stephen M. Ross School of business at the University of Michigan.