Washington, DC – May 30, 2012 – (RealEstateRama) — The Mortgage Bankers Association (MBA) today announced that David H. Stevens, the association’s President and CEO, will be leaving the organization effective June 30, 2012. SunTrust Bank, a long-standing and active member of MBA, has announced that it has hired Stevens to be President of SunTrust Mortgage.
“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.
“His insights and leadership have demonstrated the importance of having one large platform where the entire industry can come together in an effort to provide a common voice on the critical issues of the day.” Young continued. “The MBA, its leadership and members remain steadfast in our focus to bring solutions that will benefit the entire housing market, borrowers and lenders alike.”
“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.
Stevens was hired in May, 2011 after leaving his position as Assistant Secretary for Housing and Commissioner of the Federal Housing Administration at the US Department of Housing and Urban Development. Prior to HUD, Stevens held senior executive positions in the real estate and mortgage finance sectors.
Young announced that Chief of Staff and Senior Vice President, Marcia M. Davies, has been designated to be the interim head of the association pending the replacement of Mr. Stevens. A search for a permanent replacement is already underway.
The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry, an industry that employs more than 280,000 people in virtually every community in the country. Headquartered in Washington, D.C., the association works to ensure the continued strength of the nation’s residential and commercial real estate markets; to expand homeownership and extend access to affordable housing to all Americans. MBA promotes fair and ethical lending practices and fosters professional excellence among real estate finance employees through a wide range of educational programs and a variety of publications. Its membership of over 2,200 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, Wall Street conduits, life insurance companies and others in the mortgage lending field. For additional information, visit MBA’s Web site: www.mortgagebankers.org.