MBA's Stevens to Retire

David H. Stevens, president and CEO of the Mortgage Bankers Association (MBA) has announced his retirement.  Stevens, who has led MBA since 2011, has allowed plenty of lead-time.  He will continue to lead the trade group until September 30, 2018.

Stevens joined MBA after serving as an assistant secretary at the Department of Housing and Urban Development and as Commissioner of the Federal Housing Administration (FHA.)  His immediate transition from the FHA to MBA, which has extensive lobbying interests with the agency, was the source of considerable controversy in the early days of his presidency.

He started his mortgage career as a loan officer in Denver in the 1980s and later joined Freddie Mac where he headed its Single-Family Business.

Stevens, who announced exactly a year ago that he was suffering from cancer, said of his retirement, "With my cancer in remission, focusing on family, friends and staying healthy is my priority.  This was a difficult decision; it's hard to walk away from supporting an industry that shaped my career. It's been an honor to work with the talented staff, strong leadership and diverse membership of the MBA." 

MBA's current chairman, David Motley, expressed appreciation for Stevens' service and said the association would launch an immediate nationwide search for his replacement.