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Real Estate - REIT - Mortgage - NYSE - US
$ 14.56
-0.75 %
$ 2.75 B
Market Cap
10.95
P/E
1. INTRINSIC VALUE

Arbor Realty Trust, Inc. invests in a diversified portfolio of structured finance assets in the multifamily, single-family rental, and commercial real estate markets in the United States. The company operates in two segments, Structured Business and Agency Business. It primarily invests in bridge and mezzanine loans, including junior participating interests in first mortgages, and preferred and direct equity, as well as real estate-related joint ventures, real estate-related notes, and various mortgage-related securities. The company offers bridge financing products to borrowers who seek short-term capital to be used in an acquisition of property; financing by making preferred equity investments in entities that directly or indirectly own real property; mezzanine financing in the form of loans that are subordinate to a conventional first mortgage loan and senior to the borrower's equity in a transaction; junior participation financing in the form of a junior participating interest in the senior debt; and financing products to borrowers who are looking to acquire conventional, workforce, and affordable single-family housing.[ Read More ]

The intrinsic value of one ABR stock under the base case scenario is HIDDEN Compared to the current market price of 14.6 USD, Arbor Realty Trust, Inc. is HIDDEN

2. FUNDAMENTAL ANALYSIS

Price Chart ABR

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FINANCIALS
1.62 B REVENUE
147.29%
502 M OPERATING INCOME
15.12%
401 M NET INCOME
13.21%
236 M OPERATING CASH FLOW
-78.55%
1.88 B INVESTING CASH FLOW
181.09%
-1.83 B FINANCING CASH FLOW
-115.97%
354 M REVENUE
147.80%
99.1 M OPERATING INCOME
16.00%
73.5 M NET INCOME
27.38%
85 M OPERATING CASH FLOW
4.77%
228 M INVESTING CASH FLOW
-39.20%
-401 M FINANCING CASH FLOW
57.99%
Balance Sheet Decomposition Arbor Realty Trust, Inc.
image
Current Assets 1 B
Cash & Short-Term Investments 936 M
Receivables 64.4 M
Other Current Assets 0
Non-Current Assets 717 M
Long-Term Investments 235 M
PP&E 0
Other Non-Current Assets 483 M
Current Liabilities 591 M
Accounts Payable 0
Short-Term Debt 577 M
Other Current Liabilities 13.8 M
Non-Current Liabilities 283 M
Long-Term Debt 8.89 B
Other Non-Current Liabilities -8.6 B
EFFICIENCY
Earnings Waterfall Arbor Realty Trust, Inc.
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Revenue 1.62 B
Cost Of Revenue 57.2 M
Gross Profit 1.56 B
Operating Expenses 160 M
Operating Income 502 M
Other Expenses 102 M
Net Income 401 M
RATIOS
96.47% GROSS MARGIN
96.47%
31.04% OPERATING MARGIN
31.04%
22.96% NET MARGIN
22.96%
11.91% ROE
11.91%
2.36% ROA
2.36%
3.76% ROIC
3.76%
FREE CASH FLOW ANALYSIS
Free Cash Flow Analysis Arbor Realty Trust, Inc.
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Net Income 401 M
Depreciation & Amortization 72.8 M
Capital Expenditures 0
Stock-Based Compensation 14.9 M
Change in Working Capital -74.3 M
Others -245 M
Free Cash Flow 236 M
3. WALL STREET ANALYSTS ESTIMATES
Wall Street Analysts Price Targets Arbor Realty Trust, Inc.
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Wall Street analysts predict an average 1-year price target for ABR of $13.8 , with forecasts ranging from a low of $12.5 to a high of $16 .
ABR Lowest Price Target Wall Street Target
12.5 USD -14.15%
ABR Average Price Target Wall Street Target
13.8 USD -4.99%
ABR Highest Price Target Wall Street Target
16 USD 9.89%
4. DIVIDEND ANALYSIS
3.36% DIVIDEND YIELD
0.43 USD DIVIDEND PER SHARE
5. COMPETITION
6. Ownership
Insider Ownership Arbor Realty Trust, Inc.
image
Sold
0-3 MONTHS
0 USD 0
3-6 MONTHS
0 USD 0
6-9 MONTHS
0 USD 0
9-12 MONTHS
0 USD 0
Bought
164 K USD 2
0-3 MONTHS
70.5 K USD 1
3-6 MONTHS
132 K USD 1
6-9 MONTHS
1.09 M USD 2
9-12 MONTHS
Date Value Insider Amount Avg Price
2 months ago
Sep 05, 2024
Bought 20.9 K USD
Friedman David Erwin
CCO & Head of Non-Agcy Prod
+ 1600
13.08 USD
2 months ago
Sep 05, 2024
Bought 2.3 K USD
Friedman David Erwin
CCO & Head of Non-Agcy Prod
+ 175
13.15 USD
2 months ago
Sep 04, 2024
Bought 6.56 K USD
Green William C
Director
+ 500
13.11 USD
2 months ago
Sep 04, 2024
Bought 9.79 K USD
Green William C
Director
+ 745
13.14 USD
2 months ago
Sep 04, 2024
Bought 59 K USD
Green William C
Director
+ 4500
13.12 USD
2 months ago
Sep 04, 2024
Bought 65.3 K USD
Green William C
Director
+ 4974
13.13 USD
5 months ago
Jun 11, 2024
Bought 63.8 K USD
Friedman David Erwin
CCO & Head of Non-Agcy Prod
+ 4775
13.37 USD
5 months ago
Jun 11, 2024
Bought 1.34 K USD
Friedman David Erwin
CCO & Head of Non-Agcy Prod
+ 100
13.415 USD
5 months ago
Jun 11, 2024
Bought 2.67 K USD
Friedman David Erwin
CCO & Head of Non-Agcy Prod
+ 200
13.36 USD
5 months ago
Jun 11, 2024
Bought 2.67 K USD
Friedman David Erwin
CCO & Head of Non-Agcy Prod
+ 200
13.355 USD
8 months ago
Mar 18, 2024
Bought 1.29 K USD
Green William C
Director
+ 100
12.935 USD
8 months ago
Mar 18, 2024
Bought 21.1 K USD
Green William C
Director
+ 1630
12.93 USD
8 months ago
Mar 18, 2024
Bought 39.9 K USD
Green William C
Director
+ 3091
12.92 USD
8 months ago
Mar 18, 2024
Bought 69.7 K USD
Green William C
Director
+ 5388
12.94 USD
11 months ago
Nov 28, 2023
Bought 29.8 K USD
Elenio Paul
Chief Financial Officer
+ 2500
11.9 USD
11 months ago
Nov 27, 2023
Bought 30.1 K USD
Elenio Paul
Chief Financial Officer
+ 2500
12.03 USD
11 months ago
Nov 29, 2023
Bought 120 K USD
KAUFMAN IVAN
COB, CEO and President
+ 10000
12.05 USD
11 months ago
Nov 28, 2023
Bought 119 K USD
KAUFMAN IVAN
COB, CEO and President
+ 10000
11.86 USD
11 months ago
Nov 27, 2023
Bought 241 K USD
KAUFMAN IVAN
COB, CEO and President
+ 20000
12.04 USD
11 months ago
Nov 24, 2023
Bought 243 K USD
KAUFMAN IVAN
COB, CEO and President
+ 20000
12.15 USD
11 months ago
Nov 21, 2023
Bought 183 K USD
KAUFMAN IVAN
COB, CEO and President
+ 15000
12.23 USD
11 months ago
Nov 21, 2023
Bought 30.5 K USD
Elenio Paul
Chief Financial Officer
+ 2500
12.2 USD
1 year ago
Nov 16, 2023
Bought 92.8 K USD
Elenio Paul
Chief Financial Officer
+ 7500
12.37 USD
1 year ago
Nov 08, 2023
Bought 63.9 K USD
Green William C
Director
+ 4919
13 USD
1 year ago
Nov 06, 2023
Bought 125 K USD
KAUFMAN IVAN
COB, CEO and President
+ 10000
12.47 USD
1 year ago
Oct 30, 2023
Sell 1 M USD
MARTELLO JOSEPH
Director
- 80161
12.47 USD
1 year ago
Oct 30, 2023
Sell 0 USD
MARTELLO JOSEPH
Director
- 80161
0 USD
1 year ago
Oct 30, 2023
Sell 1 M USD
Natalone John
EVP, Treasury and Servicing
- 80161
12.47 USD
1 year ago
Oct 30, 2023
Sell 0 USD
Natalone John
EVP, Treasury and Servicing
- 80161
0 USD
1 year ago
Oct 30, 2023
Bought 1 M USD
KAUFMAN IVAN
COB, CEO and President
+ 80161
12.47 USD
1 year ago
Oct 30, 2023
Bought 0 USD
KAUFMAN IVAN
COB, CEO and President
+ 80161
0 USD
1 year ago
Jun 01, 2023
Bought 77.8 K USD
Green William C
Director
+ 6058
12.84 USD
1 year ago
Jun 01, 2023
Bought 26.9 K USD
Green William C
Director
+ 2107
12.79 USD
1 year ago
Jun 01, 2023
Bought 7.81 K USD
Green William C
Director
+ 611
12.78 USD
1 year ago
May 08, 2023
Bought 59.8 K USD
KAUFMAN IVAN
COB, CEO and President
+ 5000
11.95 USD
1 year ago
May 08, 2023
Bought 120 K USD
KAUFMAN IVAN
COB, CEO and President
+ 10000
12 USD
1 year ago
Mar 13, 2023
Bought 750 USD
Green William C
Director
+ 58
12.935 USD
1 year ago
Mar 13, 2023
Bought 24.3 K USD
Green William C
Director
+ 1883
12.93 USD
1 year ago
Mar 13, 2023
Bought 29.2 K USD
Green William C
Director
+ 2259
12.94 USD
1 year ago
Mar 13, 2023
Bought 124 K USD
KAUFMAN IVAN
COB, CEO and President
+ 10000
12.428 USD
2 years ago
Sep 12, 2022
Bought 142 K USD
Green William C
Director
+ 9255
15.36 USD
2 years ago
May 12, 2022
Bought 41 K USD
LAZAR MELVIN F
director:
+ 2500
16.39 USD
2 years ago
Mar 16, 2022
Bought 43.7 K USD
Green William C
director:
+ 2500
17.47 USD
2 years ago
Feb 07, 2022
Bought 96.8 K USD
Green William C
Director
+ 4000
24.2 USD
2 years ago
Nov 26, 2021
Bought 3.63 K USD
Green William C
Director
+ 200
18.14 USD
2 years ago
Nov 26, 2021
Bought 40.8 K USD
Green William C
Director
+ 2250
18.13 USD
3 years ago
Aug 03, 2021
Bought 30.3 K USD
Green William C
Director
+ 1700
17.82 USD
3 years ago
Aug 03, 2021
Bought 8.65 K USD
Green William C
Director
+ 485
17.83 USD
3 years ago
Aug 03, 2021
Bought 3.57 K USD
Green William C
Director
+ 200
17.835 USD
3 years ago
Aug 03, 2021
Bought 31.3 K USD
Green William C
Director
+ 1754
17.84 USD
3 years ago
Mar 18, 2021
Bought 9.96 K USD
Green William C
Director
+ 601
16.58 USD
3 years ago
Mar 18, 2021
Bought 3.32 K USD
Green William C
Director
+ 200
16.59 USD
3 years ago
Mar 18, 2021
Bought 16.6 K USD
Green William C
Director
+ 1000
16.6 USD
3 years ago
Mar 18, 2021
Bought 19.9 K USD
Green William C
Director
+ 1199
16.61 USD
3 years ago
Mar 18, 2021
Bought 9.81 K USD
Green William C
Director
+ 590
16.62 USD
4 years ago
Nov 05, 2020
Bought 3.88 K USD
Green William C
Director
+ 300
12.92 USD
4 years ago
Nov 05, 2020
Bought 18.3 K USD
Green William C
Director
+ 1412
12.93 USD
4 years ago
Nov 05, 2020
Sell 5.18 K USD
Green William C
Director
- 400
12.96 USD
4 years ago
Nov 05, 2020
Bought 10.6 K USD
Green William C
Director
+ 818
12.94 USD
4 years ago
Nov 05, 2020
Sell 27.2 K USD
Green William C
Director
- 2101
12.95 USD
4 years ago
Nov 05, 2020
Bought 18.3 K USD
Green William C
Director
+ 1412
12.95 USD
4 years ago
Nov 05, 2020
Bought 66.8 K USD
Green William C
Director
+ 5157
12.96 USD
4 years ago
Nov 05, 2020
Sell 22 K USD
Green William C
Director
- 1700
12.94 USD
4 years ago
Nov 05, 2020
Sell 28.4 K USD
Green William C
Director
- 2200
12.93 USD
4 years ago
Nov 05, 2020
Sell 1.29 K USD
Green William C
Director
- 100
12.925 USD
4 years ago
Nov 05, 2020
Sell 33.6 K USD
Green William C
Director
- 2598
12.92 USD
4 years ago
May 13, 2020
Bought 30 K USD
LAZAR MELVIN F
Director
+ 5000
5.999 USD
4 years ago
May 13, 2020
Bought 30 K USD
LAZAR MELVIN F
Director
+ 5000
5.999 USD
4 years ago
Mar 17, 2020
Bought 34.8 K USD
Elenio Paul
Chief Financial Officer
+ 5000
6.9626 USD
4 years ago
Mar 16, 2020
Bought 38.6 K USD
Elenio Paul
Chief Financial Officer
+ 5000
7.7205 USD
4 years ago
Mar 13, 2020
Bought 910 USD
LAZAR MELVIN F
Director
+ 111
8.2 USD
4 years ago
Mar 13, 2020
Bought 2.43 K USD
LAZAR MELVIN F
Director
+ 297
8.18 USD
4 years ago
Mar 13, 2020
Bought 13.9 K USD
LAZAR MELVIN F
Director
+ 1705
8.17 USD
4 years ago
Mar 13, 2020
Bought 40.1 K USD
LAZAR MELVIN F
Director
+ 4887
8.21 USD
4 years ago
Mar 13, 2020
Bought 86.1 K USD
van der Reis Dennis
EVP, Structured Asset Mgmt
+ 10000
8.61 USD
4 years ago
Mar 12, 2020
Bought 27 K USD
LAZAR MELVIN F
Director
+ 3000
9 USD
4 years ago
Feb 25, 2020
Bought 69.3 K USD
LAZAR MELVIN F
Director
+ 5000
13.8695 USD
5 years ago
Sep 16, 2019
Bought 2.56 K USD
Green William C
Director
+ 200
12.825 USD
5 years ago
Sep 16, 2019
Bought 254 K USD
Green William C
Director
+ 19800
12.83 USD
5 years ago
Sep 16, 2019
Sell 121 K USD
Green William C
Director
- 9454
12.8 USD
5 years ago
Sep 16, 2019
Sell 102 K USD
Green William C
Director
- 7939
12.81 USD
5 years ago
Sep 16, 2019
Sell 5.13 K USD
Green William C
Director
- 400
12.815 USD
5 years ago
Aug 14, 2019
Bought 55.4 K USD
LAZAR MELVIN F
Director
+ 4559
12.159 USD
6 years ago
Aug 22, 2018
Sell 0 USD
KAUFMAN IVAN
COB, CEO and President
- 1378175
0 USD
6 years ago
Aug 22, 2018
Sell 20.1 M USD
KAUFMAN IVAN
COB, CEO and President
- 1378175
14.6 USD
6 years ago
May 08, 2018
Bought 47 K USD
LAZAR MELVIN F
Director
+ 5000
9.395 USD
6 years ago
Mar 19, 2018
Bought 2.03 K USD
LAZAR MELVIN F
Director
+ 230
8.81 USD
6 years ago
Nov 28, 2017
Bought 5.61 K USD
Green William C
Director
+ 640
8.77 USD
6 years ago
Nov 27, 2017
Bought 93.2 K USD
Green William C
Director
+ 10625
8.77 USD
6 years ago
Nov 27, 2017
Sell 93.2 K USD
Green William C
Director
- 10625
8.77 USD
7 years ago
Aug 30, 2017
Bought 43.3 K USD
LAZAR MELVIN F
Director
+ 5385
8.04 USD
7 years ago
Aug 30, 2017
Bought 11.2 K USD
LAZAR MELVIN F
Director
+ 1400
8.03 USD
7 years ago
Aug 28, 2017
Sell 225 K USD
HELMREICH WILLIAM B
Director
- 28000
8.0287 USD
7 years ago
Nov 28, 2016
Bought 298 K USD
Green William C
Director
+ 40000
7.4591 USD
7 years ago
Nov 28, 2016
Sell 287 K USD
Green William C
Director
- 38855
7.3976 USD
8 years ago
Nov 11, 2016
Bought 14.5 K USD
Tsunis George
Director
+ 2000
7.25 USD
8 years ago
Nov 11, 2016
Bought 7.22 K USD
Tsunis George
Director
+ 1000
7.22 USD
8 years ago
Nov 11, 2016
Bought 14.5 K USD
Tsunis George
Director
+ 2000
7.23 USD
8 years ago
Nov 11, 2016
Bought 14.5 K USD
Tsunis George
Director
+ 2000
7.24 USD
8 years ago
Sep 01, 2016
Bought 19.4 K USD
Tsunis George
Director
+ 2500
7.746 USD
8 years ago
Sep 01, 2016
Bought 19.4 K USD
Tsunis George
Director
+ 2500
7.746 USD
8 years ago
Aug 24, 2016
Bought 26.8 K USD
Tsunis George
Director
+ 3500
7.667 USD
8 years ago
Aug 24, 2016
Bought 26.8 K USD
Tsunis George
Director
+ 3500
7.667 USD
8 years ago
Aug 24, 2016
Bought 7.6 K USD
Tsunis George
Director
+ 1000
7.6 USD
8 years ago
Aug 24, 2016
Bought 7.6 K USD
Tsunis George
Director
+ 1000
7.6 USD
8 years ago
Aug 31, 2016
Bought 58.7 K USD
Edwards Karen K
Director
+ 7510
7.8097 USD
8 years ago
Aug 31, 2016
Sell 58.7 K USD
Edwards Karen K
Director
- 7510
7.8182 USD
7. News
Arbor Realty: Don't Buy Now Arbor Realty Trust's shares have become more expensive despite unimpressive operational performance, making it a less attractive investment currently. Recent quarterly earnings showed a decline in net income and distributable earnings, with business volumes and interest income also down. The dividend yield remains high at 11%, but declining distributable earnings and a tight coverage ratio pose risks to dividend sustainability. seekingalpha.com - 4 days ago
Peakstone Realty Trust: Deep Value Play Peakstone Realty Trust remains undervalued trading at 11.5% implied cap rate, and an adjusted net asset value of $23 per share implying a 78% upside. 56% of its Office portfolio's ABR comes from "sticky" leases, including headquarters and R&D facilities. Industrial properties realize 49% of their ABR from the locations that benefit from proximity to top US ports. seekingalpha.com - 1 week ago
Investors Heavily Search Arbor Realty Trust (ABR): Here is What You Need to Know Arbor Realty Trust (ABR) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects. zacks.com - 1 week ago
Arbor Realty Trust, Inc. (ABR) Q3 2024 Earnings Call Transcript Arbor Realty Trust, Inc. (NYSE:ABR ) Q3 2024 Results Conference Call November 1, 2024 10:00 AM ET Company Participants Paul Elenio - Chief Financial Officer Ivan Kaufman - President and Chief Executive Officer Conference Call Participants Steve Delaney - Citizens JMP Stephen Laws - Raymond James Rick Shane - JPMorgan Jade Rahmani - KBW Crispin Love - Piper Sandler Operator Good morning, ladies and gentlemen, and welcome to the Third Quarter 2024 Arbor Realty Trust Earnings Conference Call. At this time, all participants are in a listen-only mode. seekingalpha.com - 2 weeks ago
Arbor Realty Trust (ABR) Reports Q3 Earnings: What Key Metrics Have to Say The headline numbers for Arbor Realty Trust (ABR) give insight into how the company performed in the quarter ended September 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals. zacks.com - 2 weeks ago
Arbor Realty Trust (ABR) Q3 Earnings and Revenues Top Estimates Arbor Realty Trust (ABR) came out with quarterly earnings of $0.43 per share, beating the Zacks Consensus Estimate of $0.42 per share. This compares to earnings of $0.55 per share a year ago. zacks.com - 2 weeks ago
Arbor Realty Trust Reports Third Quarter 2024 Results and Declares Dividend of $0.43 per Share Company Highlights: GAAP net income of $0.31 and distributable earnings of $0.43, per diluted common share1 Declares cash dividend on common stock of $0.43 per share Successfully delevered the Company 25% from a peak debt to equity ratio of 4:1 in 2023, to 3:1 at 3Q242 Cash and liquidity of ~$600 million3 Agency loan originations of $1.10 billion; a servicing portfolio of ~$33.01 billion, up 2% from 2Q24 and 10% from a year ago Structured loan originations of $258.5 million, runoff of $521.3 million and a portfolio of ~$11.57 billion In October 2024, issued $100.0 million of 9.00% senior notes due 2027 UNIONDALE, N.Y., Nov. 01, 2024 (GLOBE NEWSWIRE) -- Arbor Realty Trust, Inc. (NYSE: ABR), today announced financial results for the third quarter ended September 30, 2024. globenewswire.com - 2 weeks ago
These 15 Stocks Are Among the Top Dividend Payers in the Wilshire 5000 Created in 1974, the Wilshire 5000 Index was intended to be a market-weighted index of the combined NYSE, NASDAQ, and American Stock Exchange (since merged with NASDAQ in 1998). 247wallst.com - 2 weeks ago
Arbor Realty Trust Schedules Third Quarter 2024 Earnings Conference Call UNIONDALE, N.Y., Oct. 25, 2024 (GLOBE NEWSWIRE) -- Arbor Realty Trust, Inc. (NYSE: ABR), today announced that it is scheduled to release third quarter 2024 financial results before the market opens on Friday, November 1, 2024. The Company will host a conference call to review the results at 10:00 a.m. Eastern Time on November 1, 2024. globenewswire.com - 3 weeks ago
Encouraging Signs For Mortgage REITs Mortgage REITs (mREITs) are becoming more attractive due to reduced RMBS spreads, alleviated negative convexity, lower cost of capital, and a positive carry from an uninverted yield curve. The macro environment shift suggests strong 3Q24 earnings for mREITs, making common shares potentially opportunistic and bolstering preferred dividend payments. Despite historical weaknesses, mREITs like AGNC could be worth considering at moderate discounts, with potential trading opportunities around earnings releases. seekingalpha.com - 3 weeks ago
Arbor Realty Trust Gears Up to Report Q3 Earnings: What's in Store? ABR's Q3 2024 results are likely to be affected by lower NII and volatility in the multifamily market, while lower mortgage rates might have offered support. zacks.com - 3 weeks ago
Analysts Estimate Arbor Realty Trust (ABR) to Report a Decline in Earnings: What to Look Out for Arbor Realty Trust (ABR) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations. zacks.com - 4 weeks ago
8. Profile Summary

Arbor Realty Trust, Inc. ABR

image
COUNTRY US
INDUSTRY REIT - Mortgage
MARKET CAP $ 2.75 B
Dividend Yield 3.36%
Description Arbor Realty Trust, Inc. invests in a diversified portfolio of structured finance assets in the multifamily, single-family rental, and commercial real estate markets in the United States. The company operates in two segments, Structured Business and Agency Business. It primarily invests in bridge and mezzanine loans, including junior participating interests in first mortgages, and preferred and direct equity, as well as real estate-related joint ventures, real estate-related notes, and various mortgage-related securities. The company offers bridge financing products to borrowers who seek short-term capital to be used in an acquisition of property; financing by making preferred equity investments in entities that directly or indirectly own real property; mezzanine financing in the form of loans that are subordinate to a conventional first mortgage loan and senior to the borrower's equity in a transaction; junior participation financing in the form of a junior participating interest in the senior debt; and financing products to borrowers who are looking to acquire conventional, workforce, and affordable single-family housing. Further, it underwrites, originates, sells, and services multifamily mortgage loans through conduit/commercial mortgage-backed securities programs. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. Arbor Realty Trust, Inc. was incorporated in 2003 and is headquartered in Uniondale, New York.
Contact 333 Earle Ovington Boulevard, Uniondale, NY, 11553 https://arbor.com
IPO Date April 7, 2004
Employees 647
Officers Ms. Maysa Vahidi B.A., J.D. Executive Vice President & General Counsel Mr. Ivan Paul Kaufman Chairman, President & Chief Executive Officer Mr. Steven Katz Chief Investment Officer & Executive Vice President of Residential Financing Mr. Lee Roth Senior Vice President Mr. John G. Caulfield Executive Vice President & Chief Operating Officer Mr. Dennis van der Reis Executive Vice President of Servicing & Asset Management Mr. Sean Coon Senior Vice President of Operations Mr. Thomas J. Ridings Jr., CPA MD & Chief Accounting Officer Mr. Howard Leiner Executive Vice President & Chief Technology Officer Mr. Paul Anthony Elenio Executive Vice President & Chief Financial Officer