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is reportedly becoming the head ofthe . Sources confirmexd to the Washington Post that Stevens has been goiny through the necessary backgrouned checks and his extensive experience in home financinv attracted the Obama administrationbto him. He joined the Chantilly-basedd private real estate giant in July 2006 to head its affiliate d businesses before being promotee to his latest role in Before that he handledall operations, and finance for Wells Fargo Home Mortgage’sz wholesale division. He was also senio r vice presidentof McLean-basede ’s single-family business wherr he acted as spokesman and managecd all sales-related aspects.
He began his financial servicess career witha 16-year stint at , wherw he was promoted to groupl senior vice president, national sales manager for the mortgage The graduate of the at Bouldert is currently on Long & Foster’s board and the Real Estat e Settlement Service Providers Council. In response to more and more defaulted mortgages, Congress passed the National Housing Act in 1934 and createdx the FHA to insure home loans made by privat institutions and lower the risks that made thoss institutions hesitant to dish out new mortgages.
As a resultg of the subprime meltdown, FHA activity has The administration got 2million single-familt loan applications in fiscalp year 2008 -- up 161.2 percenf over 2007 -- with more than 90 perceng of applications for existing home purchases or A collection of local executives have been pickee to join the White House transition team. Julius Genachowski -- co-founde of D.C.-based venture investment firm Rock Creekm Venturesand D.C.’s LaunchBox Digital -- was tapped to be chairmahn of the Federal Communications Commission. D.C.’s Chieg Technology Officer Vivek Kundra was appointed to the new administrativd position of federal chiefinformation officer.
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