FHA's Stevens Talks Modernization with Lenders One
Newly appointed Federal Housing Administration (FHA) commissioner David Stevens outlined his plan to modernize the agency and make it more efficient and profitable. His statements arrived at one of his first public appearances as FHA commissioner, at the Lenders One mortgage cooperative conference earlier this month. “We were honored to have David Stevens deliver his first public speech as commissioner of FHA to our members,” Lenders One CEO Scott Stern said in a statement. “Our more than 140 members have long supported FHA, and have pledged to support Commissioner Stevens’ efforts to make this a world-class housing agency.” Stern said 43% of Lenders One members' total origination volume was FHA loans during Q209. “Commissioner Stevens brings exemplary mortgage experience to a position that is critical to a changing industry, particularly given the increase market share of FHA loans and the current economic and political climate,” Stern added. “We believe he is the right man for the job at this critical time in our industry.” Write to Austin Kilgore.