MBA President David Stevens Steps Down, Goes to SunTrust Mortgage

Former housing official David Stevens, who has served as Mortgage Bankers Association president and CEO for the past year, will leave his MBA post in June to become president of SunTrust Mortgage, the MBA announced Wednesday.

“Dave has been an exceptional leader for MBA,” said MBA Chairman Michael Young. “Although we are sorry to see him leave so soon, he leaves us well-positioned for the future. Dave delivered on his pledge to enhance MBA’s position as the industry’s leading voice in advocacy, policy, education and research and has developed a dynamic infrastructure for addressing member needs.”

Stevens was hired by the MBA in May 2011 after serving as Assistant Secretary for Housing and Commissioner of the Federal Housing Administration. Prior to working in the public sector, Stevens held executive roles in the real estate and finance sectors.

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MBA Chief of Staff and Senior Vice President, Marcia Davies, will serve as interim head of the association pending the replacement of Stevens, the MBA said.

“MBA is nearly 100 years old and has gone through many changes. I am confident that our Board of Directors will ensure a smooth transition and select the best possible successor.” said Debra Still, MBA’s Chairman-elect.

Written by Elizabeth Ecker

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  • The former FHA Commissioner was highly praised by the leadership of NRMLA at the time of his selection to head up FHA.  To see him leave HUD so quickly and now transition through as MBA President speaks mounds about the conflict within the Administration about how to handle the housing mess.

    What started out as the Bush problem (or the Clinton easing of mortgage standards) is now a huge Tar baby for the President.  When is the last time we have heard about the Administration monthly housing scorecard report?  It was promised years ago as a monthly transparent and realistic report on how the Administration was doing on housing.  It turned out to be a halfhearted report of excuses and then based on those excuses grading the poor efforts of the Administration on the housing front.

    No doubt David will do at his new employer what he was not permitted to do at FHA — a very good job.

    Good luck, David, in your new position.  

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