March 11, 2011 –
David Stevens, the much-maligned former officer of Long & Foster Realty’s CBA division, has resigned from his post as Commissioner of the Federal Housing Administration today. Stevens’ appointment to FHA had been shelved after concerns were raised that he was the subject of RESPA litigation involving allegations that, while at Long & Foster, he ran a coordinated sham affiliated business arrangement scheme. Bypassing those allegations, the Senate approved his nomination in 2009. The litigation, however, remains pending.