After leading the Mortgage Bankers Association to financial stability through the post-crisis era, the chief executive officer of the trade group is leaving.
Before taking over MBA in 2011, David H. Stevens was Federal Housing Commissioner for the Department of Housing and Urban Development during the Obama administration.
Prior to his appointment to run the Federal Housing Administration, Stevens spent time at Freddie Mac, Long & Foster Companies Inc. and Wells Fargo & Co.
In 2012, Stevens negotiated a deal to run SunTrust Mortgage Inc. as president.
But after his planned MBA departure was announced in May of that year, the trade association was able to persuade him to stay on as CEO.
More recently, he
has battled cancer.
“With my cancer in remission, focusing on family, friends and staying healthy is my priority,” Stevens, who was diagnosed with cancer in 2016, said in a written MBA statement Wednesday announcing his retirement.
MBA’s statement highlighted how his
leadership restored MBA to its strongest financial health in its 104-year history. Membership growth has reportedly surpassed expectations each year during his tenure.
“Additionally, Stevens has guided the association’s regulatory and legislative priorities with a unique talent for synthesizing issues and articulating industry impacts which has elevated MBA’s voice and influence inside the beltway,” MBA stated.
Stevens will
continue in the CEO role until September 2018.
A
search committee is being chaired by Rodrigo Lopez, who was the immediate past chairman of MBA, to immediately commence a nationwide search for Stevens’ replacement.
