Mon, 2010-03-01 12:29 — Eric C. Peck – …

National Mortgage Professional Magazine recently had an opportunity to chat with David H. Stevens, Assistant Secretary for Housing at the U.S. Department of Housing & Urban Development (HUD), and 27th Commissioner of the Federal Housing Administration (FHA). Established in 1934, the FHA was designed to promote stability in the housing market by insuring fixed-rate mortgages for qualifying applicants. Commissioner Stevens is responsible for oversight and administration of the $600 billion FHA insurance portfolio. Today, nearly one in four new residential mortgages carries an FHA guarantee. Stevens also has responsibility for other programs within HUD, such as multifamily subsidized housing, healthcare facilities, and manufactured housing. HUD is the agency charged with administering and interpreting the Real Estate Settlement Procedures Act (RESPA).

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