NAR Applauds Appointment of David Stevens to FHA Head

WASHINGTON, March 23, 2009

The following is a statement by National Association of Realtors^® President Charles McMillan:

“NAR is pleased that David Stevens, an experienced, successful real estate and mortgage professional and president and chief operating officer of Long & Foster Cos., has been nominated by President Obama to lead the Federal Housing Administration.

“Dave’s background in single-family home mortgages makes him uniquely qualified to fill this important position especially during this very trying time. He brings a broad understanding of the importance of housing to the overall economy and the importance of the role FHA plays in bringing stability and growth to the housing market.

“We as Realtors^® are very proud, and we look forward to working with Dave and his team at FHA to support and sustain the American dream of homeownership.”

The National Association of Realtors^®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.

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Information about NAR is available at www.REALTOR.org. This and other news releases are posted in the Web site’s “News Media” section in the NAR Media Center.