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RISMEDIA, Oct. 24, 2008-P. Wesley Foster, Jr., Founder, Chairman, and CEO of The Long & Foster® Companies, has announced the appointment of David H. Stevens, 51, as president and chief operating officer of The Long & Foster Companies, comprised of Long & Foster Real Estate, Inc., one of the largest and most-respected privately owned real estate companies in America, Prosperity Mortgage Company, Long & Foster Insurance Agency, Inc., and Long & Foster Settlement Services. Stevens had been president of Long & Foster’s affiliated businesses-mortgage, title, and insurance-since joining the firm in July of 2006.

According to Foster, “The appointment of Dave Stevens to be president of The Long & Foster Companies is designed to ensure the continued viability of our well-managed and financially stable company during these difficult economic times. Dave has the financial background and strategic thinking necessary to lead Long & Foster forward into the new reality imposed upon our industry by the nationwide liquidity and credit crisis. He will be a strong leader who will guide the company towards solutions and work for the best interests of our customers, our agents, and our employees,” Foster added.

Prior to joining The Long & Foster Companies, Stevens was executive vice president and National Wholesale Manager responsible for all sales, operations, and finance at Wells Fargo Home Mortgage. Prior to that, he was senior vice president of the single family business at Freddie Mac where he was responsible for all sales and marketing, affordable lending, product development, loan prospector, and communications for the firm. At Freddie Mac, he managed all activities related to sales, market share, customer management, and business strategy.

Stevens began his career at World Savings Bank where, after 16 years of increasing responsibility, he was promoted to group senior vice president and national sales manager for its mortgage division.

Stevens was the founding executive sponsor of the Women’s Mortgage Industry Network, and he coordinated the first Latino joint venture initiative between Freddie Mac and Latino mortgage industry leaders. He is on the Board of Directors of RESPRO.

Stevens is a graduate of the University of Colorado at Boulder. He resides in Oakton, Virginia, with his wife, Mary, and four children.

Brenda Shipplett, President of The Long & Foster Companies since 2004, has chosen to return to regional management of Long & Foster Real Estate, Inc.

For more information, visit www.longandfoster.com.

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