FHA Commissioner David Stevens, who announced last week that he would leave the administration effective March 31, will take over at the Mortgage Bankers Association, according to DSNews.com. Stevens will replace John A. Courson, who is slated to leave MBA in May.
Stevens was COO of real estate firm Long and Foster Companies before joining the FHA in 2009, where he managed the $600 billion FHA insurance portfolio. At FHA, Stevens was also responsible for other HUD programs, including multifamily subsidized housing, health care facilities, as well as the regulatory areas of the Real Estate Settlement Procedures Act (RESPA), and manufactured housing.
FHA’s insurance portfolio includes more than 20 percent of the domestic mortgage market, and Stevens’s departure comes as Congress ramps up discussions about the government’s role in the housing market.
Shelterforce has interviewed several members of HUD’s principal staff over the past year and a half. Those interviews are archived here.