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M&T Bank appoints Lopa Kolluri as head of affordable housing lending
Kolluri's appointment is a strategic move by M&T Bank to expand its reach and influence in the affordable housing sector.
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Lopa Kolluri, Head of Affordable Housing Lending, M&T Bank. / Image – M&T bank corporation
New-York based M&T Bank has appointed Indian-American housing executive Lopa Kolluri as the new head of affordable housing lending.
In her new role, Kolluri will oversee the development, management, and strategic direction of the affordable housing division within M&T's Commercial Bank. Her responsibilities include executing M&T's affordable housing business strategy, establishing operational processes, and enhancing customer service for affordable housing clients.
As the head of affordable housing lending, Kolluri will work closely with M&T's Community Bank divisions and M&T Realty Capital Corporation's affordable housing platform. She will report directly to M&T Bank's head of commercial real estate, Tim Gallagher, and will be based in New York City.
Commenting on the new role, Kolluri said, " At M&T Bank, we recognize the need for affordable housing across our footprint. As a trusted advisor, we provide the full range of affordable housing financing solutions to meet the evolving needs of our clients and create meaningful impact in our communities.”
Gallagher welcomed Kolluri's appointment. "It is an exciting time at M&T Bank as we continue to expand our work in the affordable housing space, leveraging Lopa's deep expertise in the public and private sectors," Gallagher said. "This is a substantial opportunity to build upon our already strong capabilities and it further complements M&T's forward-thinking approach to supporting clients.”
With over 25 years of experience in affordable housing, community development, and housing finance, Kolluri brings a wealth of knowledge to her new role. She previously served as senior vice president within M&T's Commercial Real Estate Innovation Office where she was leading strategy initiatives for the bank's commercial real estate transformation.
Kolluri's experience extends beyond the private sector. Before joining M&T Bank, she served as the head of the Federal Housing Administration at the U.S. Department of Housing and Urban Development (HUD), where she managed $1.2 trillion in insured mortgages and led 2,800 employees. Her role also included oversight of HUD's Office of Housing.
She holds a Bachelor of Arts degree in economics and French from Kenyon College. She also earned a Masters degree from American University in development economics and international development.
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