American Mortgage Acceptance Co.

Donald J. Meyer is the Chief Executive Officer, Chief Investment Officer and the Chairman of American Mortgage Acceptance Company (“AMAC”). Mr. Meyer is also an Executive Managing Director of Centerline Capital Group (“Centerline”), a subsidiary of Centerline Holding Company (OTC:CLNH) and AMAC’s external advisor, and the Chief Executive Officer of Centerline Real Estate Solutions, an affiliate of Centerline Servicing Inc., a wholly-owned subsidiary of Centerline. Mr. Meyer was previously the Chief Investment Officer of Centerline. Mr. Meyer has 33 years of real estate investment experience. Prior to joining Centerline’s predecessor, Mr. Meyer was the Chief Investment Officer of Capri Capital Advisors, LLC, a pension fund advisory firm with over $2 billion in assets under management. Capri was acquired by Centerline in 2005. Mr. Meyer’s previous experience includes serving as Managing Director and head of the Capital Markets unit of Cohen Financial, a nationwide mortgage banking firm, Managing Director and Chief Investment Offi­cer of Capital Trust, a NYSE-listed mezzanine lender and 18 years at First National Bank of Chicago in a variety of assignments in real estate and corporate banking groups. During his time at First National Bank of Chicago, Mr. Meyer served as Senior Credit Officer for the bank’s $7 billion loan portfolio, head of the real estate loan workout group in the early 1990s and head of the Corporate Investments unit responsible for high yielding real estate assets. Mr. Meyer holds a Bachelor of Science in Finance, with Honors, from the University of Illinois.

Patti L. Saylor is Senior Vice President of AMAC. Ms. Saylor is also Managing Director of CharterMac Mortgage Capital ("CMC"), a CharterMac subsidiary, where she oversees the entire debt origination platform, as well as corporate development and strategy. In addition, Ms. Saylor oversees new product development, training and process reengineering. Prior to Ms. Saylor's current role, she was responsible for the underwriting, pricing and trading, quality control, and closing teams for the market rate lending program. Ms. Saylor came to CharterMac Mortgage Capital from Capri Capital Finance, where she served as Executive Vice President and Co- Head of Originations. Prior to joining CharterMac Mortgage Capital via Capri, Ms. Saylor was Chief Executive Officer of the Fannie Mae lending platform for Greystone Servicing Corporation, Inc. in Bethesda, Maryland. Prior to being transferred to the Fannie Mae lending platform, Ms. Saylor was Executive Vice President for Greystone, and credited with restructuring the Company's Operations Division, which included FHA underwriting, closing, legal, asset management, servicing, and MIS. Ms. Saylor has over 20 years of experience in the real estate industry, with the majority being in the commercial/multifamily arena. Much of her experience was with Holliday Fenoglio Fowler, LP, a top national commercial real estate mortgage banking firm. She was a Managing Director of the Firm, and held various positions during her tenure including Loan Originator for commercial and multifamily properties, and Manager of the Servicing and Asset Management division responsible for a $10 billion dollar servicing portfolio. Recently, Ms. Saylor was elected to the Fannie Mae DUS Advisory Council. Ms. Saylor holds a Bachelor of Science in Finance, with Honors, from the University of Houston.

J. Larry Duggins is the Chief Executive Officer and a Managing Trustee of American Mortgage Acceptance Company ("AMAC") (AMEX:AMC). Mr. Duggins is also an Executive Managing Director of Centerline Capital Group ("Centerline"), a subsidiary of Centerline Holding Company (NYSE:CHC) and AMAC's external advisor, and is the Head of the Commercial Real Estate Group. Mr. Duggins is responsible for overseeing the day-to-day operations of the Commercial Real Estate Group, as well as supervising Centerline's Information Technology platform. Mr. Duggins served as the Chief Executive Officer of ARCap, which was acquired by Centerline in August, 2006. Mr. Duggins co-founded REMICap, ARCap's predecessor, in April 1996. He was instrumental in the growth of ARCap into an industry-leading investor and funds manager in subordinate Commercial Mortgage Backed Securities. Prior to undertaking that endeavor, he served as Managing Director of the Business Acquisition Group of Banc One Management and Consulting Corporation. He has been involved in various aspects of mortgage finance and commercial banking for twenty-three years. Mr. Duggins received a Master of Science in Finance in 1983, a Master of Business Administration in 1982, and a Bachelor of Arts in History in 1980 from Louisiana State University. He is a member of the Counselors of Real Estate, the CMSA, and the Mortgage Bankers Association, and serves on the Board of Trustees for the Center for Real Estate at the University of Wisconsin at Madison and on the Dean's Advisory Council for the EJ Ourso College of Business at Louisiana State University.

Founder of Oak Tree Residential & Oak Tree Management, Rich Rosan has acquired, renovated, and converted residential properties to cooperatives in Brooklyn, New York, since 1985. Since 1992, Rick Rosan has been the President of the Urban Land Institute ("ULI"), a globally focused organization centered on land use development that boasts an international membership of over 20,000 real estate professionals. Rick also serves as the President of the ULI Foundation, the philanthropic arm of the ULI. Rick is an architect and Fellow of the American Institute of Architects and spent 22 years working in several capacities for the City of New York. For 12 years, Rick served as the City's Economic Development Director. Preceding that post, he spent six years as President of the Real Estate Board of New York and five years in the private development business working as Project Director on several large New York City development projects. Rick is currently a Director of the American Mortgage Acceptance Company, an American Exchange listed mortgage REIT (ticker: AMC).

Scott M. Mannes is a Managing Trustee (Independent) of American Mortgage Acceptance Company ("AMAC") (AMEX:AMC). Mr. Mannes is a Managing Director of First National, a specialty lender to the golf course industry. Mr. Mannes is also a Principal in the Norseman Group, LLC, which is a credit focused mezzanine lender to single tenant property owners. Prior to these activities, Mr. Mannes was a key participant in the development and evolution of the investment banking and merchant banking operations during his nine-year tenure at ContiFinancial Corporation, most notably as Co-President of ContiFinancial Services Corporation. Prior to joining ContiFinancial in 1990, Mr. Mannes spent seven years with Financial Guaranty Insurance Company, developing the first financial guaranties applied to sub-prime mortgage loan securitizations. Mr. Mannes is a graduate of Statue University at Albany and received a Master of Public Administration degree from the Rockefeller School of Public Affairs and Policy at SUNY Albany. Mr. Mannes is the Chairman of AMAC's Nominating and Governance Committee and a member of AMAC's Audit and Compensation Committees.