June 13, 2024

Mortgage Industry Mourns the Loss of Former MBA President and CEO David Stevens

David H. Stevens, who served as president and CEO of the Mortgage Bankers Association (MBA) from 2011 until 2018, passed away this week.

Stevens had a long and successful career in real estate and mortgage finance that started at World Savings and included leadership roles at Freddie Mac, Wells Fargo, and Long & Foster, according to an MBA press release.

Immediately before joining MBA, Stevens served as Assistant Secretary of Housing – Federal Housing Commissioner at the U.S. Department of Housing and Urban Development under President Obama. After he retired from MBA, Stevens was CEO of Mountain Lake Consulting, a financial services consulting firm focused on the real estate finance sector, and served on the board of Dynex Capital.

“The real estate finance community mourns the loss today of one of its great leaders and fiercest advocates,” says Bob Broeksmit, president and CEO of the MBA. “Dave Stevens grew up in the mortgage business before serving the industry and its customers both as FHA Commissioner during and immediately after the 2008 financial crisis and then as president and CEO of MBA, where he was instrumental in rebuilding our organization and leading the industry out of the Great Recession.”

“To those who worked with him at MBA, Dave is remembered as a great mentor, boss, and friend,” Broeksmit says. “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. 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 crucially ill or injured children stay in their homes while their child is in treatment.”

“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,” he adds. “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.”        

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