President Barack Obama’s first choice to head the Federal Housing Administration, David H. Stevens, was confirmed by the Senate on July 10, 2009. In March 2011, Stevens announced that he was resigning to become chief executive of the Mortgage Bankers Association.

 

Stevens was born in New York City and raised in Connecticut. After graduating from University of Colorado at Boulder, Stevens joined California’s World Savings Bank in 1983, where he worked in sales and marketing, product development, affordable lending, and communications. Stevens was promoted to group senior vice president and national sales manager for the bank’s mortgage sector.

 

In 1999, Stevens left World Savings Bank and joined Freddie Mac, where he worked until 2005, specializing in single-family businesses. In February 2006, Stevens joined Wells Fargo Home Mortgage as the executive vice president working with mortgage brokers. Later that year, Stevens moved to Long & Foster, the largest privately-owned real-estate firm in the country, and was responsible for the company’s affiliated businesses, such as its mortgage, title and insurance division. In October 2008, Stevens was designated president and chief operating officer of the company.

 

Prior to his appointment, Stevens was on the board of directors of the National Association of Mortgage Brokers (NAMB) and on the lenders advisory council for the Mortgage Bankers Association (MBA). He also spoke on behalf of the Real Estate Services Providers Council (RESPRO). In addition, Stevens was a founding executive sponsor of the Women’s Mortgage Industry Network and created the first Latino initiative joint venture with Latino mortgage industry leaders and Freddie Mac.

 

President Obama announced his intention to nominate Stevens on March 23, 2009, but the Senate Banking Committee delayed action on his confirmation in order to study Stevens’ possible involvement in alleged violations of federal anti-kickback laws by Long & Foster. The committee finally gave Stevens their approval on June 25. Stevens is the first FHA commissioner in recent years with a significant background in home mortgages.

 

Stevens and his wife Mary have four children.

 

Official Biography

Obama’s FHA Commission Nominee, David H. Stevens Has Ugly Past (by Rob K. Blake, Mortgage Insider)

Concerns Over Lawsuits Hold Up FHA Nomination (by Dina ElBoghdady, Washington Post)

Written Statement of David H. Stevens on HUD’s Proposed Rel Estate Settlement Procedures Act (RESPA) Rule (PDF)

David H. Stevens Profile (whorunsgov.com)