David Stevens will retire from his position as president and CEO of the Mortgage Bankers Association next fall, the trade group announced Wednesday.
Stevens, a former Federal Housing Administration commissioner and financial industry executive, had served as the MBA’s chief since May 2011. A 2016 cancer diagnosis played into his decision to leave, Stevens said in a statement.
“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 Washington, D.C.-based group, which wrapped up its annual convention and exposition in Denver on Wednesday, praised Stevens for his leadership over the last six years, including a rebranding effort and ongoing legislative advocacy.
“We all support Dave in his decision,” 2018 MBA chairman David Motley said in a statement. “MBA has never been stronger and is well positioned to manage this transition. Dave has given his heart and soul to MBA for nearly seven years, and on behalf of the entire membership, we are incredibly grateful for his leadership.”
The MBA has assembled a 12-member search committee for Stevens’s replacement, helmed by past chairman Rodrigo Lopez. The search begins immediately, the group said.
Stevens almost left the MBA in 2012 become president of SunTrust Mortgage — even accepting the job and announcing his departure — but reversed course and remained at the trade organization.
Most recently, Stevens told RMD that he supported the idea of shifting the Home Equity Conversion Mortgage program out of the Mutual Mortgage Insurance Fund, shortly after Department of Housing and Urban Development secretary Ben Carson promoted the plan during a Senate hearing.
“It’s been an honor to work with the talent staff, strong leadership, and diverse membership of the MBA,” Stevens said.
Written by Alex Spanko
