Realtors® Pleased with Stevens Confirmation to Head FHA

Washington, July 13, 2009

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

“NAR is pleased that David H. Stevens, an experienced, successful real estate and mortgage professional and former president and chief operating officer of Long & Foster Cos., has been confirmed by Congress as the Assistant Secretary for Housing - Federal Housing Commissioner. In that position, he will head the Federal Housing Administration.

“Dave brings a broad understanding of the importance of housing to the overall economy and the importance of FHA in bringing stability and growth to the housing market.

“Without the FHA’s mortgage insurance program, a large portion of today’s home buyers would be unable to realize their dreams of homeownership. NAR and our members look forward to working with Dave and with Congress to ensure a stronger investment of resources in FHA that will ensure its continued role in stabilizing housing and to stimulate the nation’s economy.

“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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