Beltway Team Members

Prior to his formation of Beltway Capital in 2001, Mr. Gray was President of Dunkirk Financial Partners, a boutique investment banking firm specializing in the disposition of sub-performing and non-performing residential and commercial assets. During his time with Dunkirk, Mr. Gray participated in the analysis, pooling and eventual sale of over $1 billion of distressed assets on behalf of lenders throughout the U.S. Before participating in the creation of Dunkirk, Mr. Gray spent 12 years with Maryland National Corporation (a predecessor to Bank of America), predominantly in the commercial leveraged lending subsidiary as Vice President and Senior Credit Officer, where he managed a national portfolio of asset-based and syndicated cash-flow credit facilities. Mr. Gray also served as Unit Head in the Special Assets Division.

Mr. Gray has a B.S. with High Distinction from The Pennsylvania State University and a M.S. from Robert Morris College in Pittsburgh, PA.

scogray@beltwaycapital.com

Jed Schaefer joined Beltway Capital Management from Capital Crossing Bank in Boston where he spent six years as Executive Vice President and Director of Loan Acquisitions. During his tenure at Capital Crossing, Mr. Schaefer was responsible for the acquisition of over $1 billion in commercial loans and leases. Prior to that, Mr. Schaefer was a Vice President in the Special Situations Group at Goldman Sachs & Co. in New York and Mexico City where he was a senior member of the team responsible for acquisition of distressed loan assets in the United States and Latin America. Mr. Schaefer started his career as a corporate attorney at Cravath, Swaine & Moore in New York where he focused on structured finance and the securitization of non-conventional asset classes.

Mr. Schaefer received a B.A. from the University of Illinois and a J.D. from Columbia University School of Law. At Columbia, he was a Harlan Fiske Stone Scholar and the Senior Articles Editor of the Columbia Business Law Review.

jschaefe@beltwaycapital.com

Steve Rieger joined Beltway Capital Management in 2002 as a senior credit officer to focus on the distressed C&I loan business. In his current role, Mr. Rieger’s primary responsibility is the acquisition and management of the company’s residential loan portfolio. He is also involved in overseeing management of the commercial loan portfolio and in the general administration of the company. Mr. Rieger has over 25 years in the banking industry with an emphasis in commercial lending, specifically structured finance and asset-based lending. Prior to Beltway, he was the Regional Manager for LaSalle Business Credit in Baltimore. Prior to LaSalle he spent over 10 years with Bank of America Business Credit in Baltimore (and its predecessor companies). While at Bank of America he managed a portfolio of nationally syndicated credits, dealing directly with equity sponsors and member financial institutions. Mr. Rieger began his career as a loan work out officer.

Mr. Rieger received a B.A. degree in Accounting from Loyola University of Maryland.

srieger@beltwaycapital.com

Matt Bramhall joined Beltway Capital Management in 2008 and has over 15 years of experience in financial management, planning, and analysis. Mr. Bramhall’s primary responsibilities include Accounting, Financial Reporting, Treasury, and Tax. Mr. Bramhall came to Beltway from Municipal Mortgage & Equity, LLC (“MuniMae”), which arranges debt and equity financing for real estate and renewable energy project developers and owners. Prior to joining MuniMae, Mr. Bramhall worked as a financial analyst at TEKsystems, Inc., a technology staffing and services company.

Mr. Bramhall received his M.B.A. from the Robert H. Smith School of Business at the University of Maryland and is a graduate of Davidson College where he earned a B.A. in Economics.

mbramhal@beltwaycapital.com

Bob Litter joined Beltway Capital Management in 2008 and oversees the Company’s commercial real estate activities. He has 30 years of varied real estate experience. Prior to joining Beltway Capital, Mr. Litter spent nine years at Capital Crossing Bank (Lehman Brothers Bank) where he was responsible for valuing commercial real estate, and managing and disposing of a portfolio of REO properties. Mr. Litter also spent five years at BankBoston, where he was responsible for valuing commercial real estate nationwide and analyzing REIT portfolios. Mr. Litter began his career at Krupp Realty (predecessor of Berkshire Property Advisors) where he was involved in the acquisition and due diligence of over $200 million of apartment property acquisitions.

Mr. Litter has an undergraduate degree in Economics from Lafayette College and a M.B.A. from Northeastern University.

rlitter@beltwaycapital.com

John Eby joined Beltway Capital Management in 2009 from Rockland Credit Finance, a specialty commercial finance company where he served as the Chief Credit Officer. Prior to Rockland Credit Finance, Mr. Eby was an independent consultant from 2001 to 2006 specializing in crises management, corporate restructuring and bankruptcy matters. Previously, Mr. Eby served in a variety of credit and account management positions in the Commercial Finance and Special Asset Management environment.

Mr. Eby received a B.S. from the University of Maryland with a major in Accounting and a minor in Economics.

jeby@beltwaycapital.com

Christine McSherry joined Beltway Capital in 2018 to provide support to Beltway’s operations, including regulatory compliance, commercial transactions, and to assist Beltway’s Portfolio Managers. Ms. McSherry’s previous legal experience includes bankruptcy, land use and zoning, litigation, compliance, and real estate. She has over 10 years of legal experience and last worked with the Office of the Attorney General of Maryland at the Department of Natural Resources. Before that Ms. McSherry was an associate at Whiteford, Taylor and Preston, focusing on litigation, real estate, land use and zoning.

Ms. McSherry received her B.A from Georgetown University and her J.D. from the University of Maryland, Francis King Carey School of Law.

chmcsherry@beltwaycapital.com

Brandelyn Haynes joined Beltway Capital Management in 2008 and supervises the financial and accounting operations of Beltway Capital as well as its affiliated entities. Brandelyn brings over 13 years of commercial and residential real estate experience to Beltway Capital, working with some of the most successful real estate development and management companies such as Trammel Crow Residential and Nottingham Properties.

Ms. Haynes holds degrees from University of Florida and Saint Leo University.

brhaynes@beltwaycapital.com

Brian Gray joined Beltway Capital Management in 2008 from 1st Mariner Bank where he worked as a Mortgage Originator. At 1st Mariner, he advised clients on conventional and FHA loans, mortgage insurance and homeownership. At Beltway Capital, Brian is responsible for managing a portfolio of residential and commercial loans. In this role, Mr. Gray’s responsibilities include managing the credit and collection process, mortgage insurance, new acquisition due diligence, loan transition and short sales. Brian works very closely with our national network of foreclosure attorneys.

Mr. Gray holds a B.A. degree from Berkeley College.

bgray@beltwaycapital.com

Michelle joined Beltway Capital Management in 2008 and is responsible for the management and disposition of residential REO assets. Michelle has 18 years experience in various aspects of the mortgage industry which includes loan acquisition and portfolio management. Her responsibilities include the management of real estate brokers, negotiating and executing contracts, valuations and developing real estate disposition strategies. Prior to joining Beltway Capital, Michelle supervised the Bankruptcy Division for Friedman & MacFadyen, P.A. for 11 years where she prepared court pleadings, corresponded with Court officials to resolve cases, and negotiated settlements.

manderso@beltwaycapital.com

Joe Little joined Beltway Capital Management in 2008. Mr. Little is responsible for financial valuations, financial reporting, and developing and maintaining the information systems that the company uses to manage its residential and commercial loan portfolio. He also performs due diligence on new loan acquisitions, is actively involved in the transition of loan portfolios following acquisition, and manages a portfolio of residential loans.

Mr. Little received an A.B. degree from the University of Chicago.

jlittle@beltwaycapital.com

Brandi Eberly joined Beltway Capital Management in December, 2008 after having served as an Agency Auditor for Conestoga Title Insurance Company, and as the Pre-Settlement Manager for Community Settlement Group. In her role at Beltway Capital, Brandi manages daily operations of both Commercial and Residential loan portfolios and participates in the due diligence process on commercial real estate loan acquisitions.

Ms. Eberly obtained her B.A. degree with a major in German from The Pennsylvania State University.

beberly@beltwaycapital.com

Brittany Liss joined Beltway Capital Management in 2013 and is responsible for the valuation and management of commercial assets. Prior to joining Beltway, Brittany spent eight years at a national commercial real estate valuation firm where she specialized in real estate appraisals, feasibility studies, market studies, and related property consulting services.

Brittany received her B.S. Degree from Towson University and an M.B.A. from Loyola University.

bliss@beltwaycapital.com

Sean Schroeder joined Beltway Capital Management in 2013 from PNC Bank. In his current role he is responsible for the acquisition and management of distressed C&I business loans. He has over 10 years banking experience with a focus on commercial lending. At PNC, Mr. Schroeder worked on the Asset Resolution Team where he managed a portfolio of non-performing and sub-performing loans. In this prior position, he worked to rehabilitate and develop exit strategies for these underperforming assets.

Mr. Schroeder received a B.A. degree from Lafayette College with a major in Mathematics and Economics and an M.B.A. from Temple University.

sschroed@beltwaycapital.com

Prior to joining Beltway Capital Management in 2014, Joseph Buttarazzi was a director with Newmark Grubb Knight Frank, where he advised banks, Fortune 500 companies, developers and law firms on complex real estate and private equity valuations. He began in real estate with Mercantile Bank (now PNC) in 2002, where he participated in the management of a $3.0 billion trust which acquired and developed office, retail, industrial and multifamily property investments across the U.S.  Prior to this, he was an analyst with ING Furman Selz (New York) and Adams Harkness & Hill (Boston), where he published research on the valuation and prospects of companies in the technical staffing, manufacturing and computer services sectors.

Joe received his B.A. in History from Villanova University and an M.B.A. in Finance and Accounting from the University of Rochester, and is pursuing an MAI designation from the Appraisal Institute.

jbuttara@beltwaycapital.com

Prior to joining Beltway Capital Management in 2015, Mr. Sweeney spent 10 years at PNC Bank, ultimately as a member of the Asset Resolution Team, managing the disposition of the commercial REO portfolio.  He also spent time in a work-out capacity and as a real estate lender for PNC’s predecessor, Mercantile Mortgage Corporation.  At Beltway Capital, Darren is responsible for the management and disposition of the commercial REO portfolio along with the valuation of commercial properties during the due diligence process.

Darren received a Masters Degree in Real Estate from John Hopkins University and is a graduate of The University of North Carolina at Chapel Hill where he earned a B.A. in Economics.

dsweeney@beltwaycapital.com

Chris Crowley Joined Beltway Capital Management in 2016 after 16 years with Capital Crossing Bank. At Capital Crossing, Mr. Crowley was a SVP and Director of Business Development. He is a skilled real estate/banking executive with over 30-years of experience in all facets of mortgage lending, asset management, and commercial real estate. At Beltway, Mr. Crowley is involved with loan acquisition analysis,  asset underwriting, and distressed loan workout. Prior to joining Capital Crossing, he held positions as a Vice President for asset management and workout subsidiaries of Fleet and First Interstate Banks.

Mr. Crowley received his B.A. in Real Estate/Finance from Fort Lewis College, Durango, Colorado.

ccrowley@beltwaycapital.com

Prior to joining Beltway Capital Management in 2018, Mr. Cathey spent 15 years with Goldman Sachs as a Vice President in Loan Acquisitions and Asset Management. He has over 30 years of extensive experience as a senior real estate and commercial loan portfolio manager in the sourcing, acquisition, and management of real estate and middle market debt. His experience encompasses comprehensive restructure, foreclosure, receivership, and litigation. In addition to managing loan assets in the continental U.S., Mr. Cathey has managed global loan portfolios in Latin America, Asia, and the Caribbean. Prior to Goldman Sachs, Mr. Cathey served as a Vice President with Lend Lease and Bank of America.

tcathey@beltwaycapital.com

Robert Brown joined Beltway Capital Management in 2017 as a Portfolio Manager and manages commercial real estate and business loans. Mr. Brown also manages the periodic sale of performing loan pools and other bulk asset dispositions.

Mr. Brown received his B.A. degree from Niagara University with a major in Finance and a minor in Economics.

robrown@beltwaycapital.com

Svetla Butschky joined the Beltway Capital Management in March 2020 as a Staff Accountant. With over 20 years of financial accounting experience, Ms. Butschky has worked in various financial roles in both Europe and the United States, across many different and diverse industries and sectors. Ms. Butschky holds a Bachelor’s of Science degree from South-West University in Europe.

sbutschky@beltwaycapital.com