The Mortgage Bankers Association on Thursday announced its replacement for CEO David Stevens, who will step down from his position in September.
Former Treliant Risk Advisors president and chief operating officer Robert Broeksmit will take the reins of the Washington, D.C.-based trade group.
“We are thrilled to have Bob Broeksmit as the next leader of MBA,” chairman David Motley said in a statement announcing the move. “MBA has never been stronger, and we have full confidence that Bob is the right person to take MBA to even greater heights. He brings with him decades of industry knowledge and leadership experience at a time when our industry is facing great change and disruption.”
In addition to his stint at Treliant, a Washington, D.C.-based consulting firm, Broeksmit has served as president of the B.F. Saul Mortgage Company and the executive vice president of Chevy Chase Bank; he additionally had leadership roles on the MBA’s Residential Board of Governors and with the American Bankers Association’s Mortgage Markets Committee.
“Our industry, particularly on the residential side, is facing headwinds, and I look forward to working with the MBA team to address all business, legislative, and regulatory issues ahead of us,” Broeksmit said in the statement.
Broeksmit will start at MBA on August 20, serving concurrently with Stevens for a few weeks during the transition. Stevens had helmed the group since May 2011; a cancer diagnosis in 2016 factored into his exit strategy, he said last year.
“With my cancer in remission, focusing on family, friends, and staying healthy is my priority,” Stevens said. “This was a difficult decision; it’s hard to walk away from supporting an industry that shaped my career.”
The MBA frequently weighs in on reverse mortgage issues, with Stevens recently discussing his support for separating the Home Equity Conversion Mortgage program from the Mutual Mortgage Insurance Fund with RMD.
“I’ve known Bob for over a decade, and he is an excellent choice to lead MBA,” Stevens said. “Bob brings a deep understanding of how the industry works and understands the needs of our membership.”
Written by Alex Spanko