DAVID STEVENS NOMINATED FOR HOUSING ASSISTANT SECRETARY AND FHA COMMISSIONER

WASHINGTON - The U.S. Department of Housing and Urban Development (HUD) Secretary Shaun Donovan announced today that President Barack Obama nominated David Stevens as Assistant Secretary for Housing and Federal Housing Administration (FHA) Commissioner.

Stevens currently serves as the president and chief operating officer of the Long Foster Companies, which includes Long Foster Real Estate and its affiliated businesses, including mortgage, title, insurance and home service connections.

"The President's swift nomination of David Stevens, an innovator and single family housing industry leader, shows this Administration's commitment to moving this country out of the current housing crisis," said Donovan. "David's depth of knowledge in real estate, housing and the mortgage industry will help us transform not only the way HUD does business, but help to transform the housing market as the FHA's market share continues to grow. He is an excellent choice to lead the FHA through the current housing crisis and I am thrilled with his nomination."

Stevens' background also includes serving as Executive Vice President, National Wholesale Manager at Wells Fargo Home Mortgage's wholesale channel; Vice President of single family business at Freddie Mac; and, a 16-year tenure at the World Savings Bank, where he began his career. He is also the founding executive sponsor of the Women's' Mortgage Industry Network and while at Freddie Mac, he coordinated the first Latino joint venture initiative with Freddie Mac and Latino mortgage industry leaders.

Stevens is a graduate of the University of Colorado at Boulder.

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