Michael L. Falcone
Chief Executive Officer and President

Michael L. Falcone is the Chief Executive Officer and President of MuniMae, a position he has held since January 1, 2005. Prior to his appointment as Chief Executive Officer and President, he served as Chief Operating Officer and President beginning 1997. Mr. Falcone is responsible for all aspects of the general management of the Company, focusing on strategic planning, risk management, business development, and oversight of the performance of the Company’s significant subsidiaries, MMA Financial, MMA Realty Capital, and MMA Renewable Ventures. Mr. Falcone led the team which created MuniMae through the restructuring of its predecessor, the SCA Tax Exempt Fund. Prior to his involvement with MuniMae, Mr. Falcone Served as Senior Vice President and Partner at The Shelter Group, a Baltimore based real estate development and property management firm where he began his career in 1983. Mr. Falcone serves on the Boards of the Baltimore Development Corporation, The Greater Baltimore Alliance, the McDonogh School and is a member of the Executive Committee of the Board of Directors of the National Multi-Housing Council. He is a graduate of Dartmouth College and the Harvard Business School.

Earl W. Cole
Executive Vice President

Earl W. Cole, III, is MuniMae’s Executive Vice President for Corporate Credit and Portfolio Management. Mr. Cole started with the Company’s predecessor, the SCA Tax-Exempt Fund, in 1989. As the Company’s Chief Credit and Real Estate Officer, he is responsible for setting and maintaining the Company’s credit, underwriting and asset management policies, procedures and best practices and overseeing its investment approval processes. In this capacity, Mr. Cole participates in the Company's Loan and Investment committees and chairs its Real Estate Investment Committee. Prior to assuming his current role, Mr. Cole oversaw the loan servicing, construction management and asset management functions of the Company’s real estate portfolio. Prior to joining the Company, Mr. Cole worked for thirteen years with the U.S. Department of Housing and Urban Development where he held positions related to HUD’s full range of activities including loan origination, servicing and community planning and development. Mr. Cole is a graduate of the University of Maryland with a B.A. in Economics.

Stephen A. Goldberg
General Counsel

Stephen A. Goldberg has served as General Counsel to Munimae since July 2004. Prior to being appointed General Counsel, Mr. Goldberg served as the principal counsel for Munimae in his capacity as a partner at Gallagher Evelius & Jones LLP where he has represented Munimae and its predecessors since 1985. Mr. Goldberg is responsible for all aspects of the Company's legal affairs, including the supervision of the Company's internal and external counsel. Mr. Goldberg remains a partner of Gallagher Evelius & Jones LLP, where he serves on the Management Committee. Mr. Goldberg taught affordable housing as an adjunct professor at the University of Maryland School of Law and served until recently on the Board of Directors of the National Housing and Rehabilitation Association. He received his B.A. Degree from Yale University in 1973 and his J.D. Degree from the University of Maryland School of Law in 1976.

David Kay
Chief Financial Officer

David B. Kay is the Chief Financial Officer of MuniMae, a position he has held since November 2007. Prior to his appointment as Chief Financial Officer, he served as Co-Leader of the Financial Services practice of Navigant Consulting, Inc., a global consulting firm providing operational, dispute, investigative, risk management and financial advisory solutions to the market.  As CFO of MuniMae, Mr. Kay is responsible for overseeing all elements of the Financial, Accounting, and certain Administrative functions, including Accounting Policy, Treasury and Corporate Capital Raising, External Reporting, Financial Planning, Taxes and Corporate Accounting. Prior to his involvement with Navigant Consulting, Mr. Kay served as CFO of J.E. Robert Companies, a commercial finance and fund management company with operations across North America and Europe. Mr. Kay joined J.E. Robert after spending over 20 years at Arthur Andersen LLP where he ended his tenure as Managing Partner of the Mid-Atlantic Accounting, Audit and Risk Management Services. Mr. Kay serves on the Boards of Chevy Chase Bank and Saul Centers REIT.  He received his B.A. in Business Administration from Southern Methodist University.

Gary A. Mentesana
Executive Vice President, Chief Capital Officer

Gary A. Mentesana is Executive Vice President of MuniMae, a position he has held since July 2003. As the Company's Chief Capital Officer, he is responsible for the day-to-day capital activities of the Company. Mr. Mentesana previously served as head of the Company’s Affordable Housing Group and was responsible for the affordable tax-exempt and taxable lending and equity businesses and as Chief Financial Officer. Mr. Mentesana’s tenure with MuniMae began in 1988 with the Company’s predecessor, the SCA Tax-Exempt Fund Limited Partnership. Prior to joining MuniMae, he worked for Coopers and Lybrand and was a Certified Public Accountant. Mr. Mentesana graduated from the University of Rhode Island.