David H. Stevens is the Assistant Secretary for Housing at the United States Department of Housing and Urban Development (HUD), and 27th Commissioner of the Federal Housing Administration (FHA). Established in 1934, FHA is designed to promote stability in the housing market by insuring fixed-rate mortgages for qualifying applicants. Stevens has direct responsibility for oversight and administration of the $600 billion FHA insurance portfolio, which now includes well over 20 percent of the mortgages in the domestic housing market. Stevens has also responsibility for other programs within HUD, such as multifamily subsidized housing, health care facilities, as well as the regulatory areas of the Real Estate Settlement Procedures Act (RESPA), and manufactured housing.
Stevens comes to HUD with a strong background in housing, including experience in finance, construction, sales, mortgage acquisition and investment, and regulatory oversight. Commissioner Stevens began his journey to HUD at the dining room table, where he listened to stories about the creation of FHA and other efforts to stabilize the housing market from his father, who started as a runner on Wall Street during the depression. The dining room table soon became the board room as Commissioner Stevens started his professional career with a sixteen-year tenure at the World Savings Bank. He later held positions as Senior Vice President of single family business at Freddie Mac and then Executive Vice President, National Wholesale Manager at Wells Fargo.
Prior to his nomination and confirmation as Commissioner of FHA, Stevens was president and chief operating officer of Long and Foster Companies, which include Long and Foster Real Estate and its affiliated businesses, including mortgage, title insurance, and home service connections.
Stevens is a graduate of the University of Colorado, Boulder. He and his wife, Mary, have four children.