The Mortgage Bankers Association (MBA) recently announced
the passing of former MBA President and CEO David Stevens, following a
long-fought battle with prostate cancer.
Stevens brought decades of regulatory and real estate
experience with him to the top leadership role with MBA, which he held from 2011
to 2018. He continued to lend his expertise to other organizations after his
retirement.
He served as assistant secretary of housing for the Federal
Housing Administration (FHA) at the U.S. Department of Housing and Urban
Development (HUD) under President Obama, helping to lead efforts to resolve the
turmoil created in the wake of the 2008 financial crisis.
“On behalf of the entire U.S. Department of Housing and
Urban Development, I extend my prayers and condolences to the family and
friends of former FHA Commissioner David Stevens,” HUD Secretary Marcia Fudge
said in a statement. “Over the course of his 40-year career, David Stevens made
a profound impact on the housing industry and on the lives of millions of
homeowners and prospective homebuyers, from helping the country navigate the
aftermath of the 2008 housing crisis as FHA commissioner to his service as the president
of the Mortgage Bankers Association and his many other leadership roles. This
country is better because of David’s service and contributions.”
MBA President and CEO Bob Broeksmit released a statement
noting that people who worked with Stevens at MBA would remember him as “a
great mentor, boss and friend.”
“He was quick with a joke, sometimes at his own expense, and
truly cared about those he worked with and those who worked for him,” Broeksmit
said. “Dave and his wife Mary were instrumental in the 2011 creation of the MBA
Opens Doors Foundation, which has helped more than 16,000 families with
critically ill or injured children stay in their homes while their child is in
treatment.”
Stevens’ career in real estate and mortgage finance began at
World Savings and included leadership roles at Freddie Mac, Wells Fargo and
Long & Foster. After he left MBA, Stevens served as CEO of Mountain Lake
Consulting, a financial services consulting firm offering services to the real
estate finance sector. He also served on the board of Dynex Capital,
a financial services company committed to ethical stewardship of
stakeholders' capital, expert risk management,
disciplined capital allocation and social responsibility.
“Dave’s sincere belief in the value and benefits of
sustainable homeownership led him to a career dedicated to making the American
Dream achievable for more Americans,” Broeksmit continued. “He had endless
energy to engage in the fights that needed fighting to ensure that the industry
could safely serve qualified low and moderate-income and first-time homebuyers.
He was an outside-the-box thinker when it came to trying to solve some of the industry’s
greatest challenges.
“MBA and the entire industry will miss Dave’s voice,
leadership, and friendship. Our thoughts and prayers are with Mary, his
children, and the rest of his family.”