Independent Non-Executive Chairman of the Board
Mr. Hugh R. Frater is NonExecutive Independent Chairman of the Board of the Company. He previously served on the Boards Audit Committee and Nominating and Corporationrationrate Governance Committee from April 2015 to September 2015. From April 2014 to December 2015, Mr. Frater served as Chairman of Berkadia Commercial Mortgage LLC, an industryleading commercial real estate company that is owned 50 percent by Berkshire Hathaway Inc. and 50 percent by Leucadia National Corporationrationration, which provides comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Mr. Frater formerly served as Berkadias Chief Executive Officer from August 2010 until April 2014. From November 2007 until June 2010, Mr. Frater was the Chief Operating Officer at Good Energies, Inc. and from February 2004 until May 2007, Mr. Frater was Executive Vice President at PNC Financial Services, where he led the real estate division. From August 1988 until February 2004, he was a Founding Partner and Managing Director of BlackRock, Inc., the largest global investment manager, where he also led the real estate practice. Mr. Frater has served on the Board of Directors of the Federal National Mortgage Association since January 2016
Age: 60 Chairman Since 2015 MBAFrater has also been active in industry affairs, having served on the Board of Directors of the Mortgage Bankers Association as Vice Chair of the MBa sponsored GovernmentSponsored Enterprise Task Force, as a Chair of the MBa Affordable Rental Housing Task Force and as a member of the MBa Audit Committee. He has also served on the Real Estate Advisory Board at the Columbia University Graduate School of Business since 2004 and on its Board of Overseers since 2015. He has a MBA from the Columbia University Graduate School of Business and has a Bachelor?s Degree from Dartmouth College.