The Long & Foster Companies Name New President and COO

09/03/09

Congratulations to Jeffrey Detwiler for being selected as the new President and Chief Operating Office of the Long & Foster Companies. The Creig Northrop Team is very excited to see what new ideas and innovations he will bring to Long & Foster. View the official press release below.  

Chantilly, Va., September 3, 2009 — P. Wesley Foster, Jr. chairman of The Long & Foster® Companies announced today that Jeffrey S. Detwiler (47), has been selected as the new president and chief operating officer.  The Long & Foster® Companies is the parent company of Long & Foster® Real Estate, Inc., Prosperity Mortgage® Company, Walker Jackson® Mortgage Corporation, Long & Foster® Settlement Services, and Long & Foster® Insurance Agency, Inc. Before joining The Long & Foster Companies, Detwiler was the chief production officer of the Institutional Mortgage Services Group for Countrywide Home Loans. He led three divisions: correspondent lending, warehouse lending, and landsafe origination services. “Jeff will be a great asset to our company,” said Foster. “He brings extensive industry experience and expanded competencies to our growing company.  With a recent uptick in housing sales and our other products and services, and a highly skilled executive team, we are looking forward to an exciting year ahead,” concluded Foster. George T. Eastment, III, vice chairman, added “Jeff brings 25 years of senior level business experience and sales force management expertise on a national level.” Prior to his work at Countrywide, Detwiler was recruited by Donaldson, Lufkin Jennrett (DLJ) to create a conduit purchase business that would leverage financial strength on Wall Street. Credit Suisse First Boston (CSFB) bought DLJ and Detwiler led the initiatives for understanding the financial markets, cost structures and risk profiles. He designed a business model that was implemented by other Wall Street firms such as Morgan Stanley, UBS, Goldman Sachs and Numara. Under his leadership, CSFB developed the sales organization and capacity to fund $1 billion a month. Detwiler also managed the warehouse lending business, oversaw the servicing operation, and designed and built the conduit. Before DLJ, Detwiler was a senior executive at GMAC-RFC. He is a graduate of Princeton University, and is relocating from California to Northern Virginia. Detwiler is married and has four children. The Long & Foster ® Companies is the parent company of the largest, privately owned residential real estate company in the U.S., Long & Foster® Real Estate, Inc., and is the Mid-Atlantic region’s leading provider of homeownership services. In addition to its real estate arm, The Long & Foster® Companies consist of Prosperity Mortgage® Company; Walker Jackson® Mortgage Corporation; Long & Foster Insurance Agency, Inc., and Long & Foster® Settlement Services. The total 2008 sales volume and sales equivalents for all The Long & Foster Companies was $48.9 billion.
 

Posted in: CNT News

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