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The Arbor Companies Executive Bios

As of 03/04/2014

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Index of Bios

Ivan KaufmanChairman and CEO - Arbor Realty Trust, Inc. • Arbor Commercial Mortgage, LLC • Arbor Residential Mortgage, LLC • AMS Servicing, LLC

John G. CaulfieldChief Operating Officer - Arbor Commercial Mortgage, LLC

Paul ElenioChief Financial Officer - Arbor Realty Trust, Inc. • Arbor Commercial Mortgage, LLC

Joseph MartelloChief Operating Officer - Arbor Management, LLC

John BisharExecutive Vice President, General Counsel - Arbor Commercial Mortgage, LLC

John NataloneExecutive Vice President, Treasury & Servicing - Arbor Commercial Mortgage, LLC

Tom MurphyExecutive Vice President, Chief Information Officer - Arbor Commercial Mortgage, LLC

Bonnie HabyanExecutive Vice President, Marketing and Operational Compliance - Arbor Commercial Mortgage, LLC

Gene KilgoreExecutive Vice President, Structured Securitization - Arbor Commercial Mortgage, LLC

Fred WeberExecutive Vice President, Structured Finance & Principal Transactions - Arbor Commercial Mortgage, LLC

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Ivan Kaufman has extensive experience operating a diverse array of multifamily, commercial and residential real estate finance companies that spans beyond four decades and numerous real estate cycles. He is currently the President and CEO of Arbor Realty Trust (NYSE:ABR), a commercial real estate finance investment company that became publicly traded in April 2004. He is also the Founder, Chairman and CEO of Arbor Commercial Mortgage, LLC, a leading multifamily real estate lender; and Managing Member of Arbor Multifamily Acquisition Company (AMAC) Management, the external manager of AMAC Holdings, a multifamily real estate investment company. In addition, Mr. Kaufman is the Chairman and CEO of Arbor Residential Mortgage, LLC, an experienced investor in residential real estate-based enterprises; and a member of the board of directors for Seneca Mortgage Investments, a residential mortgage servicing rights investor.

Arbor and its various affiliated companies have experienced significant success through various real estate cycles. The foundation for the present-day Arbor was established in 1983, when Mr. Kaufman founded Arbor National Holdings, Inc. to initially focus on the origination and servicing of residential mortgage loans. Arbor National Holdings expanded its focus over time and ultimately grew to operate as a fully integrated real estate financing services company providing financing solutions through not only residential mortgage loans, but commercial real estate mezzanine loans, bridge loans and other customized financing structures.

Arbor National Holdings grew rapidly to 25 branches in 11 states with approximately 1,000 employees and an annual origination volume of $4 billion. The company became the leading provider of residential mortgage loans in the New York tri-state region, transitioned to a public company in 1992 at $9 per share before being sold to Bank of America for $19.50 per share.

As part of the transaction, Mr. Kaufman retained the commercial side of the business and the Arbor name, creating the platform for Arbor Commercial Mortgage and, eventually, Arbor Realty Trust. Today, Arbor Commercial Mortgage is a Top 10 Fannie Mae DUS® Multifamily lender and a leading FHA Multifamily mortgage insurance provider. Arbor Commercial Mortgage is also the external manager of Arbor Realty Trust and is a primary commercial loan servicer and special servicer rated by Fitch Ratings and Standard & Poor’s. Arbor is also on the Standard & Poor’s Select Servicer List.

With long-standing residential expertise, Mr. Kaufman re-entered that market in 2008 by forming Arbor Residential Mortgage, LLC, which invest in single-family residential real estate-related enterprises. He later acquired AMS Servicing, a national prime and specialty residential servicer focused on the optimization of high-risk real estate portfolio performance as well as component servicing.

Chairman and CEOArbor Realty Trust, Inc.Arbor Commercial Mortgage, LLC

Ivan Kaufman

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In 2013, Arbor formed a joint venture partnership with GSO Capital partners, LP and EJF Capital, LLC to acquire AMS Servicing and establish Seneca Mortgage Investments, a residential mortgage servicing rights investor. Also in 2013, Mr. Kaufman returned to residential mortgage origination business, and this time within the e-commerce sector by leading Arbor Residential Mortgage into a joint venture that acquired Cardinal Financial Company and subsequently formed Sebonic Financial, an online residential mortgage lending platform.

Mr. Kaufman’s other related businesses include multifamily property management under Elon Property Management, a full-service multifamily property management firm formed in 2011. Elon currently manages more than 20,000 multifamily units with more than 450 employees across 11 states and is owned by Arbor Management, LLC. In addition, in 2013 Mr. Kaufman also invested in and established Arbor Multifamily Acquisition Company (AMAC) Management, which controls and oversees AMAC Holdings, a multifamily real estate investment company.

Mr. Kaufman has served as the Chair of the Independent Judicial Election Qualification Commission for the 10th Judicial District of New York, an appointed position that oversees the screening process for candidates seeking elective judicial office. In addition, he has served on the National and Regional Advisory Boards of Fannie Mae and on the Board of Directors of the Empire State Mortgage Bankers Association.

He was previously named regional “Entrepreneur of the Year” by Inc. Magazine for his outstanding achievements in financial services. Mr. Kaufman also served as a regional spokesperson for Global ReLeaf, a program of the American Forestry Association, which led to his appointment as delegate of the International Arid Lands Consortium. He has guest lectured at Harvard Business School’s Real Estate Club and is a featured presenter at Columbia University and Wharton Business School.

Mr. Kaufman is a dedicated community leader, serving as Founder and President of the North Shore Hebrew Academy High School, a state-of-the-art, 11-acre academy now regarded as one of the premier college preparatory schools in the Northeast. In addition, he has served on the Board of Trustees of The Birthright Israel Foundation.

Mr. Kaufman earned a J.D. from Hofstra University School of Law and a B.A. in Business Administration from Boston University.

Chairman and CEOArbor Realty Trust, Inc.Arbor Commercial Mortgage, LLC

Ivan Kaufman continued

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John Caulfield is the Chief Operating Officer of Uniondale, NY-based Arbor Commercial Mortgage, LLC and is responsible for managing the overall production of Arbor's national sales force and overseeing the implementation of the company's integrated sales and marketing efforts.

Mr. Caulfield is also responsible for all capital market activities relating to all of Arbor's lending products as well as the oversight of Arbor’s loan servicing portfolio and collaboration and engagement with Arbor’s valued business partner, Fannie Mae.

In addition, Mr. Caulfield oversees the management of Arbor’s trading and investment banking partnerships and the operations functions of Arbor's pipeline, from screening through closing. He directs the seamless execution of Arbor’s deals by ensuring that all disciplines involved in a transaction are in constant communication and are working with the most current data available.

Chief Operating OfficerArbor Commercial Mortgage, LLC

John G. Caulfield

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As Chief Financial Officer, Mr. Elenio is responsible for overseeing all aspects of Arbor Commercial Mortgage and Arbor Realty Trust’s financial operations. This includes financial reporting, tax planning, budgeting and the appropriate utilization of Arbor’s capital. He is also in charge of Investor Relations for Arbor Realty Trust.

Mr. Elenio joined Arbor National Holdings, the predecessor company of Arbor Realty Trust's external manager, Arbor Commercial Mortgage, in 1991. As the Financial Reporting and Tax Supervisor, he was involved in Arbor National Holding’s 1992 Initial Public Offering. In 1995, he was promoted to Vice President, Controller, and in 2002 he assumed the position of Vice President of Finance. In that role, he implemented the necessary financial planning and analysis required to successfully transition Arbor Realty Trust to a public company in April 2004. He was named Senior Vice President of Finance shortly thereafter.

Prior to joining Arbor, Mr. Elenio was employed with Ernst & Young from 1989 to 1990 in the auditing department. He graduated Cum Laude with a Bachelor of Business Administration degree in Accounting from St. Bonaventure University.

Mr. Elenio is a member of Arbor Realty Trust’s Loan and Risk Management Committees and is a member of the National Association of Real Estate Investment Trusts.

Chief Financial OfficerArbor Realty Trust, Inc.Arbor Commercial Mortgage, LLC

Paul Elenio

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Mr. Martello has served as one of our directors since June 2003. He is currently chief operating officer of ArborManagement, LLC, the managing member of Arbor Commercial Mortgage. He is responsible for overseeing thecompany’s investment portfolio and day-to-day operations.

From 1995 to 1999, Mr. Martello served as chief financial officer of Arbor Commercial Mortgage, LLC. From 1990to 1995, he was chief financial officer of Arbor National Holdings, Inc.

Prior to joining Arbor, Mr. Martello was a senior manager with the international accounting and consulting firm ofErnst & Young for 11 years. He is a member of the American Institute of Certified Public Accountants and the NewYork State Society of Certified Public Accountants, where he is a former executive director of the board ofdirectors of the Suffolk County chapter. Mr. Martello also serves as a member of the board of directors of Citala,Ltd., a privately owned technology firm based in Israel.

Chief Operating OfficerArbor Management, LLC

Joseph Martello

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Mr. Bishar is responsible for all legal activities relating to Arbor’s business, including corporate matters, real estate transactions, litigation and all other legal issues. He also manages Arbor’s outside legal counsel in connection with the asset management of the loan portfolio and various litigation matters. In addition to his duties as General Counsel, Mr. Bishar has served as a director on the board of Arbor Realty Trust since April 2007.

Mr. Bishar brings more than 30 years of legal expertise to the Arbor companies. He is also currently a member of the Touro School of Law’s Board of Governors. He has also served as the U.S. General Counsel of National Grid U.S.A., one of the largest distributors of electricity and natural gas in the Northeast U.S.

In addition, Mr. Bishar has also served as Executive Vice President, General Counsel and Chief Governance Officer of KeySpan Corporation before the company’s merger with National Grid. Before joining KeySpan, he was a partner in the law firm of Cullen and Dykman LLP, serving as Managing Partner from 1993-2002 and as a member of the firm’s executive committee.

Mr. Bishar is a graduate of Georgetown University and Fordham University School of Law. He currently serves on the board of directors of the Long Island YMCA.

Executive Vice President, General CounselArbor Commercial Mortgage, LLC

John Bishar

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Mr. Natalone joined Arbor in 1995 and is responsible for managing all financing and bank relationships. He also oversees Arbor’s Treasury and Servicing Operations. He is a member of Arbor Realty Trust’s Loan Committee and serves on Arbor Commercial Mortgage’s Risk Management Committee.

From 1991 to 1995, Mr. Natalone was employed by Arbor National Holdings, Inc. and held the title of Senior Director, Office of the President, where he assisted the President in running various business units.

Prior to joining Arbor, Mr. Natalone held positions at GE Mortgage and Ernst & Young. He received a Bachelor of Science in Accounting from Penn State University and is a Certified Public Accountant.

Executive Vice President, Treasury & ServicingArbor Commercial Mortgage, LLC

John Natalone

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Tom Murphy has more than 25 years of professional experience in the information technology field. Prior to joining Arbor, Mr. Murphy was the CIO at Titleserv Inc., an electronic real estate title and settlement services company. He also brings a wealth of IT experience to Arbor from previous positions at Bank America Mortgage, Lending Solutions, Inc., First Boston Capital Group, Lockheed Martin Information Management Systems and IBM Corporation. He returns to Arbor after holding a CIO position in the Company earlier in his career.

Mr. Murphy is a graduate of the State University of New York at Binghamton.

Executive Vice President, Chief Information OfficerArbor Commercial Mortgage, LLC

Tom Murphy

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Ms. Habyan joined Arbor in May 2004 and is responsible for overseeing all of the aspects of marketing for the Arbor family of companies. As the head of the marketing department, Ms. Habyan is responsible for executing and overseeing the comprehensive and integrated national marketing strategies for the Arbor family of companies and handling all of the internal and external communications for the company. She also works directly with the national sales team to execute new business development strategies and directs Arbor’s various corporate marketing, branding and advertising initiatives. In addition, she oversees all of Arbor’s Compliance initiatives, works closely with Investor Relations and handles all of the financial media relations for Arbor Realty Trust. Before joining Arbor, Ms. Habyan was a spokesperson for KeySpan Corporation in Hicksville and oversaw the financial communications for the company.

Ms. Habyan is a graduate of Women's Unlimited, a nationwide management development program, and has twice been honored by Long Island Business News with the Long Island Top 50 Women in Business Award, which recognizes the most influential women in Long Island business. She has a Bachelor of Arts Degree in Communications from Bethany College, a Masters Degree in Communications from the New York Institute of Technology and a Masters of Business Administration in Banking and Finance from Dowling College.

Executive Vice President, Marketing & Operational ComplianceArbor Realty Trust, Inc.Arbor Commercial Mortgage, LLC

Bonnie Habyan

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Mr. Kilgore joined Arbor in October 2004 and is responsible for overseeing the development, marketing and implementation of Arbor Realty Trust’s collateralized debt obligation (CDO) structures. He has a unique and strategic expertise and brings a wealth of professional experience from his work in the structured finance and real estate industries. Prior to joining Arbor, Mr. Kilgore was a portfolio manager at ZAIS Group LLC with a CDO and real estate focus. Previously, he structured CDOs as a director in the risk finance group at Barclays Capital; rated CDOs and CMBS as a director with Standard & Poor’s; and served as a vice president at Wachovia Bank with positions in commercial real estate and corporate lending.

Mr. Kilgore earned a Masters of Science in Real Estate from the Massachusetts Institute of Technology. He also earned a Masters of Business Administration from Emory University and a Bachelor of Science in Economics from the University of Tennessee at Chattanooga.

Executive Vice President, Structured Securitization Arbor Realty Trust, Inc.

Gene Kilgore

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Mr. Weber leads a team that serves the highly specialized and complex financing needs of clients of both Arbor Realty Trust and Arbor Commercial Mortgage. The group originates, underwrites and implements debt and equity transactions for various asset types and classes of commercial real estate nationwide.

With more than 25 years of experience, Mr. Weber has earned a distinguished reputation for professional excellence and leadership in the mortgage banking industry. He has extensive real estate finance and acquisition experience as well as substantial expertise in the restructuring and workouts of troubled loans. Since joining Arbor in May 1999, Mr. Weber has structured in excess of $25 billion of sophisticated real estate and finance transactions. He is chairman of the Loan Committee for Arbor Realty Trust and is a member of the Executive Committees of both Arbor Realty Trust and Arbor Commercial Mortgage.

Mr. Weber is a member of the Real Estate Finance Committee of the Real Estate Board of New York, the International Council of Shopping Centers and the Mortgage Bankers Association of New York. He is also a member of the National Association of Real Estate Investment Trusts, the Real Estate Lenders Association, the Urban Land Institute, the Commercial Real Estate Finance Council and the RealShare Structured Finance Advisory Board. He has lectured at the International Council of Shopping Centers and other industry conferences. Before joining Arbor, he was a partner and co-head of the real estate department with Kronish, Lieb, Weiner & Hellman. He was also a partner with the law firm of Weil, Gotshal & Manges.

Executive Vice President, Structured Finance & Principal Transactions Arbor Realty Trust, Inc.Arbor Commercial Mortgage, LLC

Fred Weber