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BLOOMBERG | Outgoing FHA Commissioner Will Head Mortgage Bankers Group

BLOOMBERG | Outgoing FHA Commissioner Will Head Mortgage Bankers Group


Federal Housing Administration Commissioner David H. Stevens will become head of the Mortgage Bankers Association after he leaves his government post this month, the trade group said.

Stevens last week announced his intention to resign from the housing agency. He will join the Washington-based bankers group in May.

Michael D. Berman, chairman of the bankers group, called Stevens “uniquely qualified” for the job.

“He has had a tremendous impact at FHA,” Berman said in a statement today.

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FHA Commissioner David H. Stevens Expected To Resign

FHA Commissioner David H. Stevens Expected To Resign


Via Wall Street Journal:

David H. Stevens, the commissioner of the Federal Housing Administration who steered the agency through a critical stretch of the housing downturn, is expected to leave his post this spring, according to people familiar with the matter.

Officials wouldn’t confirm or deny the pending departure. Mr. Stevens declined to comment.

Mr. Stevens has played key roles shaping the Obama administration’s housing policies at the FHA, an agency that has occupied a vital role in healing housing markets by continuing to make low-down-payment mortgages available. He took the helm of the government loan insurer in July 2009 at a time that it faced rapidly rising losses from mortgage defaults and dwindling reserves, raising the prospect of a taxpayer rescue.

Continue reading WSJ

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