Hugh Frater appointed CEO of Berkadia Commercial Mortgage – NMP Skip to main content

Hugh Frater appointed CEO of Berkadia Commercial Mortgage

NationalMortgageProfessional.com
Aug 09, 2010

Berkadia Commercial Mortgage LLC has announced the appointment of Hugh F. Frater as chief executive officer of the company, effective Thursday, Aug. 12, 2010. Frater succeeds Michael I. Lipson, who is leaving the organization. Berkadia is a highly rated master, primary and special loan servicer and a top-tier commercial real estate loan originator. Berkadia acquired the North American commercial real estate loan origination and servicing businesses of Capmark Financial Group Inc. in December 2009. Headquartered in Horsham, Pa., Berkadia’s loan origination and servicing platforms have been major industry participants for more than 15 years. Frater joins Berkadia from Good Energies Inc., a multibillion euro, global, private investor in renewable energy where he was chief operating officer, managing director and senior advisor. Prior to joining Good Energies Inc., Frater was executive vice president at PNC Financial Services Inc., where he led the real estate division. He also served as chief executive officer of Midland Loan Services, PNC’s loan servicing and software development subsidiary. Prior to joining PNC, Frater was a founding partner and managing director of BlackRock Inc., a publicly traded investment manager. “I am very excited to join Berkadia," said Frater. "I am looking forward to managing and growing an established industry leader. This is a time of challenge and opportunity in commercial real estate, and I am eager to see how we can capitalize on it." Frater holds an MBA degree in finance from the Columbia University School of Business and a bachelor’s degree from Dartmouth College. For more information, visit www.berkadia.com.
Published
Aug 09, 2010
Lenders Complain FGMC Is 'Radio Silent' On Loans

Company said it would stop purchasing new loans in the wake of its mass layoff last week; seeking court-approved financing.

Industry News
Jun 30, 2022
AnnieMac Home Mortgage Acquires OVM Financial

Wants to expand its outreach into the Mid-Atlantic region.

Industry News
Jun 30, 2022
Ready Life Launches Black-Owned Fintech To Help Underserved Borrowers

Ready Life, led by two Black entrepreneurs, is taking aim at the racial wealth gap by starting a mortgage fintech.

Industry News
Jun 30, 2022
FGMC Files For Chapter 11 Bankruptcy Protection

FGMC notified laid-off 471 employees late Tuesday night that it would pay severance.

Industry News
Jun 30, 2022
FGMC Paying Severance To Ex-Employees

Late-night email tells laid-off workers they'll receive one week of pay for each year of service.

Industry News
Jun 29, 2022
Texas, N.Y. Law Firms File Class-Action Suit vs. FGMC Over Layoffs

Both firms represent a former employee suing over lack of 60-day notice before mass layoff on June 24.

Industry News
Jun 29, 2022