Mar 23, 2009
Long & Foster prez (probably) tapped to run FHA
23 Mar 2009
Posted by Andrew Kantor
David Stevens, president of Long & Foster (and VAR member, of course) looks to be the Obama administration’s choice to head the Federal Housing Administration.
We say "looks to be" because the White House hasn’t confirmed it and Stevens ain’t talking "until the White House does." But the Washington Post got a tip from an anonymous source, so there’s good reason to think it’s gonna happen.
Stevens has been a banker, then worked for Freddie Mac, then Wells Fargo (a "brief stint") and then joined Long & Foster in 2006.
Heck, why reinvent the wheel. Check out the Post article (which, by the by, incorrectly identifies Long & Foster as a "Washington Real Estate firm," when in fact it’s a Virginia company).
If confirmed by Congress, Stevens would be the only FHA commissioner in recent years with a strong background in single-family home mortgages. After more than two decades in the financial services industry, Stevens has overseen every aspect of home financing, from originating mortgages to selling them on the secondary market. That experience appealed to the administration, the sources said.