FHA Commissioner Sworn In

A news release today from the U.S. Department of Housing and Urban Development indicated David Stevens was sworn in as Assistant Secretary for Housing and Federal Housing Administration Commissioner.

The new commissioner’s wife, Mary Stevens, held the bible while HUD Secretary Shaun Donovan swore him in.

Stevens was confirmed by the U.S. Senate on July 10.

He will oversee HUD’s multifamily subsidized housing program and FHA’s $600 billion portfolio. He will also be in charge of HUD’s regulatory responsibilities for the Real Estate Settlement Procedures Act and the manufactured housing industry.

“David’s knowledge in real estate, housing and the mortgage industry will help us overcome the current challenges we face, he will implement changes that protect FHA and will enhance its risk management capabilities to protect its future viability,” Donovan said in the statement.

Stevens’ prior employers include Wells Fargo Home Mortgage, Freddie Mac and World Savings Bank.