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David H. Stevens: Mourning the Industry Veteran’s Unexpected Passing

Former Federal Housing Commissioner and MBA President, CEO, David H. Stevens, CMB.

The Mortgage Bankers Association (MBA) has announced the unexpected passing of former President and CEO David H. Stevens, CMB.

Stevens served as MBA’s President and CEO from 2011 until 2018, following a career in real estate and mortgage finance that started at World Savings and included leadership roles at Freddie Mac, Wells Fargo, and Long & Foster.

Prior to joining MBA, he served as Assistant Secretary of Housing and Federal Housing Commissioner at the U.S. Department of Housing and Urban Development (HUD) 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.

"On behalf of the members of the National Mortgage Servicing Association and the Mortgage Servicing Executive Alliance, I would like to express my deepest condolences to the family of Dave H. Stevens and to the Mortgage Bankers Association, where Dave served as President and CEO from 2011-2018," said Ed Delgado, Chairman Emeritus at Five Star Global. "Throughout my career, I had the opportunity to work and interact with Dave on many occasions, first meeting him in 2009 during the housing crisis, when he was serving as U.S. Assistant Secretary of Housing and Federal Housing Commissioner at HUD, at a crucial time for our nation.

At the risk of sounding cliche, Dave was the right person, at the right time, and in the right job. His steady hand, focus, and compassion helped guide an industry through a turbulent period. As President and CEO of the MBA, he continued to chart a course for the mortgage industry through various programs and initiatives, helping to elevate the status and influence of the trade group. Most importantly, Dave 'answered the call'. No matter what the topic, regardless of where he was at the time, he was always available and was adept at bringing people together for a common solution, to the benefit of many. His influence on promoting affordable housing and his longstanding commitment to protecting the dream of homeownership will have an impact on generations to come."

Bob Broeksmit, MBA President and CEO expressed his condolences and praised Stevens for his industry contributions and legacy left.

“The real estate finance community mourns the loss today of one of its great leaders and fiercest advocates," said Broeksmit. "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 & 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.

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 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.”

To read the full release, including more statements from Bob Broeksmit, MBA President and CEO, click here.

About Author: Demetria Lester

Demetria C. Lester is a reporter for DS News and MReport magazines with more than eight years of writing experience. She has served as content coordinator and copy editor for the Los Angeles Daily News and the Orange County Register, in addition to 11 other Southern California publications. A former editor-in-chief at Northlake College and staff writer at her alma mater, the University of Texas at Arlington, she has covered events such as the Byron Nelson and Pac-12 Conferences, progressing into her freelance work with the Dallas Wings and D Magazine. Currently located in Dallas, Texas, Lester is an avid jazz lover and likes to read. She can be reached at [email protected].

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