Q&A with FHA Commissioner David Stevens
The Federal Housing Administration is making tough choices to help shore up the government program from weaker loans made in years past. A mortgage industry veteran is at the helm shaping the policy changes. By Robert Stowe England Mortgage Banking January 2010 David H. Stevens was sworn in as assistant secretary for housing at the Department of Housing and Urban Development (HUD) and commissioner of the Federal Housing Administration (FHA) on July 15, 2009, and is responsible for overseeing the $600 billion FHA mortgage insurance portfolio and HUD’s multifamily subsidized housing program. The commissioner also oversees HUD’s regulatory responsibilities under the Real Estate Settlement Procedures Act (RESPA). Prior to his appointment, Stevens was president and chief executive officer of the Long & Foster Companies, Inc., in Chantilly, Virginia. Further, he has an extensive background in mortgage finance. He served as executive vice president and national wholesale manager at Wells ...