After announcing in May he would roll up his responsibilities as Mortgage Bankers Association president and CEO, David Stevens this week changed course in saying he will stay on in his MBA roles rather than pursuing a position at SunTrust Mortgage, which he had previously accepted.
“The past few weeks have been extremely difficult for me personally and professionally. After serious thought and consideration, I simply cannot leave the MBA at such a critical time for the industry and the association.” Stevens said. “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.”
Stevens had planned to join SunTrust as president, after serving a year at the MBA.
The association’s board, members and staff urged Stevens of the importance of his leadership following his earlier decision.
“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,” said MBA Chairman Michael Young.
Stevens served previously as Assistant Secretary for Housing and Commissioner of the Federal Housing Administration. Prior to working in the public sector, Stevens held executive roles in the real estate and finance sectors.
Written by Elizabeth Ecker
