David Stevens to head MBA in early May

Federal Housing Administration Commissioner David Stevens will replace John Courson as the CEO of the Mortgage Bankers Association in early May, the trade group said Tuesday. Last week, Stevens told HousingWire he would leave the FHA for the private sector. The MBA said that he would leave March 31. Courson will stay with the MBA through May and leave the association June 1. “David Stevens is uniquely qualified to lead the association in its next chapter,” said MBA Chairman Michael Berman. “Most recently he has had a tremendous impact at FHA, as that program faced its own unprecedented challenges.  He also brings a wealth of industry experience in mortgage lending that will help him further build MBA’s position as the industry’s leading voice in advocacy, communications, education and research.” Stevens joins the MBA after two years leading the FHA. They were tumultuous years. Coming out of the financial crisis, the FHA’s market share ballooned past 30%. A myriad of changes were made, including the establishment of the FHA Chief Risk Office in 2010. Courson joined the MBA as its chief operating officer at about the same time Stevens was sworn in to lead the FHA. Courson became CEO in January 2009. “John has done a superb job, and the entire residential, multifamily and commercial real estate community owes John an enormous debt of gratitude, and we are pleased that John intends to remain active in the real estate finance industry and thank him for his willingness to stay at MBA to help facilitate a smooth transition,” Berman said. Write to Jon Prior. Follow him on Twitter: @JonAPrior