Free Republic

Washington (AP) - President Barack Obama has named a former Freddie Mac executive to head the federal housing commission. The White House on Monday named David Stevens as assistant secretary at the Department of Housing and Urban Development. The position requires Senate confirmation and would put Stevens in charge of the government's housing mortgage-insurance program. Stevens now is the head of Long and Foster Companies, a real estate and mortgage firm. He previously worked at World Savings bank and Wells Fargo Home Mortgage. At Freddie Mac, Stevens was a senior vice president in charge of affordable lending, sales and marketing.

WASHINGTON (AP) — President Barack Obama has named a former Freddie Mac executive to head the federal housing commission.

David H. Stevens, president of Long & Foster, the Washington real estate firm, is expected to be nominated tomorrow to run the Federal Housing Administration. Though the Obama administration declined to confirm the appointment today, sources said Stevens has been undergoing the required background checks. These sources spoke on condition of anonymity because they did not have the administration's permission to speak publicly. If confirmed by Congress, Stevens would be the only FHA commissioner in recent years with a strong background in single-family home mortgages. After more than two decades in the financial services industry, Stevens has overseen every aspect...