BALTIMORE, April 10, 2019 /PRNewswire/ -- M&T Bank
(NYSE: MTB) has named Michael D.
Berman as President and CEO of M&T Realty Capital
Corporation®, the company's wholly-owned nationwide commercial
mortgage banking subsidiary.
Berman is responsible for managing the operations of M&T
Realty Capital Corporation (M&T RCC), which is a direct
multifamily and seniors housing lender for Fannie Mae DUS®, Freddie
Mac and FHA/HUD MAP and LEAN programs, and provides life insurance
company and CMBS loans for other commercial real estate property
types through correspondent relationships. M&T RCC also offers
a nationwide bridge lending program for multifamily, seniors
housing, and healthcare facilities.
Headquartered in Baltimore,
M&T RCC originated $4.88 billion
of multifamily and commercial loans in 2018, which represents the
subsidiary's highest loan volume to date, and currently manages a
servicing portfolio of $18 billion.
M&T is one of six banks nationwide to offer all three agency
lending programs, and has expanded its life insurance company
correspondent platform over the past two years.
"Michael brings extensive experience in managing commercial
banking originations and knowledge of public policy issues related
to real estate finance which will enable him to be an effective
leader for this growing line of business," said Gino Martocci, Executive Vice President, M&T
Bank Corporation and M&T Bank.
Tari Flannery, current President and
CEO of M&T RCC, is retiring after 28 years with
the bank and serving almost two decades in her current role.
During her tenure with M&T, Flannery served as a
member of both Fannie Mae and Freddie Mac Advisory Committees.
She was an active member of the Mortgage Bankers
Association (MBA), and most recently served on
the MBA Board and the MBA Investment Committee. Flannery
is a former recipient of
MBA's Distinguished Service Award, and was named one
of Real Estate Forum's 2017 Women of
Influence.
"I am committed to carrying forward what Tari Flannery has created, a very strong
business focused on superior customer service, consistent investor
returns and credit profiles, and a caring employee team culture,"
said Berman. "I look forward to leading the M&T Realty Capital
team, and continuing to build on its record of success and smart
growth. The strength of our parent company M&T Bank and its
multidimensional services provide significant differentiation in
the market."
Berman was the co-founder, president and CEO of CW Capital, a
national multifamily and commercial real estate lender. From 1991
to 2012, CW grew its annual loan production from $40 million to $4
billion. In 2011, CW Capital was the third largest
multi family lender in Fannie Mae, Freddie Mac, and FHA programs.
From 2012 to early 2014, he served as Senior Advisor to HUD
Cabinet Secretary Shaun Donovan,
serving as his liaison to the White House and Congress on GSE
reform and other housing issues.
For the past five years, Berman has been a consultant to several
multifamily and commercial lenders working on corporate growth as
well as digital strategies. He has also continued his policy work
as a Fellow at the Harvard Joint Center for Housing Studies and the
Wharton-Penn Institute for Urban Research, focusing on affordable
rental housing and flood risk/resiliency. He was the Chairman of
the Mortgage Bankers Association in 2010-11, and led their GSE
reform efforts in 2008-11.
Berman holds a B.A. in Government from Harvard University, and a J.D. from University of Pennsylvania's Law School.
About M&T Bank
M&T Bank Corporation is a
financial holding company headquartered in Buffalo, New York. M&T's principal banking
subsidiary, M&T Bank, operates banking offices in New York, Maryland, New
Jersey, Pennsylvania,
Delaware, Connecticut, Virginia, West
Virginia and the District of
Columbia. Trust-related services are provided by M&T's
Wilmington Trust-affiliated companies and by M&T Bank.
© 2019 M&T
Bank. Member FDIC.
Media Contact:
Phil Hosmer
410-949-3042
phosmer@mtb.com
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SOURCE M&T Bank