Stevens Tapped to Lead FHA

David H. Stevens has been nominated by President Barack Obama for the position of assistant secretary for housing and ""Federal Housing Administration"":http://www.fha.gov (FHA) commissioner, where he will be responsible for overseeing the government-led mortgage insurance agency.
Stevens currently serves as the president and CEO of the Long & Foster Companies, which includes Long & Foster Real Estate and its affiliated businesses for mortgage, title, insurance, and home service connections.
According to the ""Department of Housing and Urban Development"":http://www.hud.gov (HUD) Secretary Shaun Donovan, the president's swift nomination of Stevens is testament to the administration's commitment to moving the nation out of the current housing crisis. ""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,"" Donovan said. ""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 EVP and national wholesale manager at Wells Fargo Home Mortgage's wholesale channel; VP of single family business at Freddie Mac; and a 16-year tenure at the World Savings Bank, where he began his career. Stevens 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.
Commenting on Stevens' appointment, John A. Courson, president and CEO of the ""Mortgage Bankers Association"":http://www.mortgagebankers.org (MBA), said, ""I have known and worked with Dave Stevens for better than fifteen years and think he is an excellent choice to lead FHA when it is playing a more important role than ever helping millions of Americans become homeowners. Dave has a strong housing background and understands the complexities of the mortgage industry having served at Freddie Mac and Wells Fargo.""
President Obama also ""announced"":http://www.whitehouse.gov/the_press_office/President-Obama-Announces-Additional-Treasury-Department-Nominations/ on Monday the appointment of three of the four most senior posts at the Treasury Department, beneath Treasury Secretary Timothy Geithner. Obama blamed himself during a _60 Minutes _interview on Sunday for not filling the open positions at the Treasury quick enough to give Geithner the support he needs to address the nation's many economical challenges.
Neal S. Wolin, a Treasury Department veteran who served as general counsel at the Treasury from 1999-2001 and as deputy general counsel from 1995-1999, has been selected for the position of deputy secretary of the Treasury. Wolin served briefly in the Obama White House as deputy counsel to the president for economic policy and deputy assistant to the president before being asked to rejoin the Treasury.
Lael Brainard has been nominated for under secretary of the Treasury for international affairs. Brainard is VP and founding director of the Global Economy and Development Program at the Brookings Institution. Brainard served as deputy national economic adviser and deputy assistant to the president for international economics during the Clinton Administration.
In addition, the president announced that Stuart A. Levey, the current under secretary for terrorism and financial intelligence, has been confirmed by the Senate to remain in that position.
The president's other three nominations, including Stevens as FHA commissioner, still require confirmation from the Senate.