The Mortgage Bankers Association (MBA) has announced that David H. Stevens, the association's president and CEO, will be leaving the organization effective June 30 to become president of SunTrust Mortgage, a division of SunTrust Banks Inc.
Stevens joined the MBA in May 2011 after leaving his position as assistant secretary for housing and commissioner of the Federal Housing Administration at the U.S. Department of Housing and Urban Development. Prior to that, Stevens held senior executive positions in the real estate and mortgage finance sectors.
The MBA has named Chief of Staff and Senior Vice President Marcia M. Davies the interim head of the association pending the replacement of Stevens. A search for a permanent replacement is already under way.Â Â
‘Dave has been an exceptional leader for MBA,’ says 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.Â
‘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 continues. ‘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.’