Board of Directors

Mr. Cauley has served as our Chairman, President and Chief Executive Officer since August 2010. Mr. Cauley is also the Chairman and Chief Executive Officer of our Manager. Mr. Cauley co-founded Bimini in 2003 and has served as its Chief Executive Officer and Chairman of the Board of Directors since April 2008 and served as Vice-Chairman, Chief Financial Officer and Chief Investment Officer of Bimini prior to April 2008. Prior to co-founding Bimini in 2003, Mr. Cauley was a vice-president and portfolio manager at Federated Investors in Pittsburgh from 1996 to 2003. Mr. Cauley was a member of the ABS/MBS structuring desk at Lehman Brothers from 1994 to 1996 and a credit analyst at Barclays Bank, PLC from 1992 to 1994. Mr. Cauley is a CPA (inactive status) and served in the United States Marine Corps for four years. As a result of these professional and other experiences, Mr. Cauley possesses particular knowledge and expertise in management of publicly-traded REITs and RMBS portfolio management that strengthens the Board of Director’s collective knowledge, capabilities and experience.

Mr. Haas has served as our Chief Financial Officer and Chief Investment Officer and has served as a Director since August 2010. Mr. Haas is the President, Chief Investment Officer and Chief Financial Officer of our Manager. Mr. Haas has also been the President, Chief Investment Officer and Chief Financial Officer of Bimini since April 2008. Prior to assuming those roles with Bimini, he was a Senior Vice President and Head of Research and Trading of Bimini. Mr. Haas joined Bimini in May 2004 as Vice President and Head of Mortgage Research. He has over 12 years of experience in this industry and has managed trading operations for the portfolio since his arrival in May 2004. Mr. Haas has approximately eight years of experience as a member of senior management of a public REIT. Prior to joining Bimini, Mr. Haas worked in the mortgage industry as a member of a team responsible for hedging a servicing portfolio at both National City Mortgage and Homeside Lending, Inc. As a result of these professional and other experiences, Mr. Haas possesses particular knowledge and expertise in financial management of publicly-traded REITs and in the mortgage industry that strengthens the Board of Director’s collective knowledge, capabilities and experience.

In 2015, Ms. Parker was appointed as the 5th President of Palm Beach State College. Palm Beach State serves over 48,000 students annually and offers Bachelors and Associates degrees, and awards technical certificates. Prior to her appointment to Palm Beach State College, she served as the Executive Vice President and Chief Operating Officer of Florida Polytechnic University from 2012-2015. From 2001-2015, Ms. Parker was a partner in the law firm of Lawrence & Parker, PA, where she served as bond counsel and underwriter’s counsel in connection with municipal finance transactions as well as assisted for-profit and not-for-profit clients with corporate organization, development and interpretation of contracts and litigation issues. From 2002-2015, Ms. Parker also served as the President of Linking Solutions, Inc., which provided training, technical support and program management services in the public and private sectors. Ms. Parker has served as a director of Professional Holding Corp. (Nasdaq: PFHD) since 2020. In 2006, Ms. Parker was appointed to the Jacksonville Transportation Authority Board of Directors, where she previously served as a Board Member and Chairman. Ms. Parker also served as a Board Member and Chair of the State of Florida Board of Governors of the State University System. None of the institutions mentioned in this paragraph is our parent, subsidiary, or affiliate. As a result of these professional and other experiences, Ms. Parker has particular knowledge and expertise as a director of a number of private, state and municipal boards, and in management of complex financial and corporate transactions and corporate counseling that strengthens the Board of Director’s collective knowledge, capabilities and experience.

Mr. Filipps has served as an Independent Director since February 2013. From 2005 to July 2008, Mr. Filipps served as the Chairman and Chief Executive Officer of Clayton Holdings, Inc., a mortgage services company, leading it through its initial public offering and listing on the Nasdaq, as well as its subsequent sale. Prior to that, Mr. Filipps was employed by the Radian Group, Inc., spending two years as Senior Vice President and Chief Financial Officer, one year as Executive Vice President and Chief Operating Officer and 10 years as Chairman and Chief Executive Officer. In his time with the Radian Group, Inc., Mr. Filipps led the company through its initial public offering and listing on the NYSE. Prior to his tenure with the Radian Group, Inc., Mr. Filipps spent 17 years with American International Group, Inc. (“AIG”) (NYSE: AIG), where he held multiple Vice President-level positions and was the President, Chief Executive Officer and founder of AIG Capital Corporation, the first non-insurance financial company within AIG, which focused on interest rate swaps, foreign exchange and equity arbitrage and leveraged buyout bridge financing. Mr. Filipps has served as a director and the chair of the audit committee of Impac Mortgage Holdings, Inc. (NYSE Amex: IMH) since 1995, as a director of Primus Guaranty, Ltd. (NYSE: PRSG) from 2002 through 2014 and as chair of its compensation committee from 2002 to 2006 and its nominating and corporate governance committee from 2007 to 2011. Mr. Filipps has also served as a director of Ready Capital Corporation (f/k/a Sutherland Asset Management Corp.) (NYSE: RC) since 2014. He has also served as a director and chairman of the governance committee of Fortegra Financial Corp. (NYSE: FRF) from 2010 through 2014 and as chair of its nominating and governance committee from 2010 to 2011 and its compensation committee since 2012. None of the institutions mentioned in this paragraph is our parent, subsidiary, or affiliate. As a result of these professional and other experiences, Mr. Filipps has particular financial and business expertise, a diversified management background and extensive experience with real estate-related and mortgage services companies and as a director of other public companies that strengthens the Board of Director’s collective knowledge, capabilities and experience.

Ms. Morabito has served as a Director since December 2017. Ms. Morabito was an audit partner at Ernst & Young, LLP, where she served as a Real Estate, Hospitality and Construction Leader of the Southeast Region, a position she held from 2007 through her retirement in 2016. Ms. Morabito had been with Ernst & Young, LLP since 1988 and held various leadership positions in the organization, serving on both the Southeast Region Assurance Operating Committee and the Real Estate Operating Committee during her tenure. Ms. Morabito currently serves as a consultant with Morabito Consulting LLC. Ms. Morabito brings insight from over 34 years of experience and leadership in the accounting and finance industry, which strengthens the Board of Director's collective knowledge, capabilities and experience.

Mr. Bitting has served as a Director since February 2013. Since July 2007, Mr. Bitting has maintained a private consulting practice focused on REITs. Mr. Bitting was a Founding Partner and Head of Corporate Finance at Flagstone Securities, a leading investment bank that specialized in mortgage REITs and finance companies, from 2000 to February 2007. Flagstone managed more than 40 equity offerings raising more than $5 billion of equity capital. Flagstone helped clients build investment and liability management practices. Prior to Flagstone, Mr. Bitting held senior equity research positions at Stifel, Nicholas & Co. Inc. and Kidder, Peabody & Co., Inc. None of the institutions mentioned in this paragraph is our parent, subsidiary, or affiliate. As a result of these professional and other experiences, Mr. Bitting has significant capital markets experience and experience analyzing and advising REITs that strengthens the Board of Director’s collective knowledge, capabilities and experience.