David H. Stevens Staying at MBA

Slightly more than a month after it confirmed he was leaving his post as President and CEO, the Mortgage Bankers Association (MBA) announced that David H. Stevens would remain at the head of the trade association.  Steven's resignation and appointment as president of Sun Trust Mortgage was announced by both MBA and the parent company of his new employer, Sun Trust Bank, on May 30.  The announcement came almost simultaneous with Steven's first year anniversary with MBA.

In a statement released this morning MBA said they were pleased to announce that Stevens "has agreed to stay on as President and CEO."  MBA Chairman Michael W. Young said that, "Over the past several weeks, MBA's leadership, members and staff impressed upon Dave the important role he was playing for the industry and his unique qualifications to lead the association.  The importance and significance of MBA's voice during this critical time coupled with Dave's experience and talents encouraged us to do all we could to retain him."

"The past few weeks have been extremely difficult for me personally and professionally," Stevens said.  "After serious thought and consideration, I simply cannot leave the MBA at such a critical time for the industry and the association.  Frankly, at the end of the day, stepping away now when so much progress is being made and so much still left to be done, did not feel right.

 "Going through this experience left me encouraged by the tremendous opportunity that lies within our industry and reinforced the essential component mortgage finance will continue to play in helping our nation's economy recover." he noted.  

Stevens joined MBA in May 2011 after serving as Assistant Secretary of Housing and Urban Development and Commissioner of the Federal Housing Administration (FHA). 

Mr. Stevens was to have joined the Company on July 16, reporting to SunTrust Mortgage President and CEO Jerome Lienhard.

"We have a strong leadership team in place, and continue to execute our business plan and serve the needs of the clients of SunTrust Mortgage," said Mr. Lienhard.