David H. Stevens Staying at MBA

Slightly more than a month after it confirmedrnhe was leaving his post as President and CEO, the Mortgage Bankers Associationrn(MBA) announced that David H. Stevens would remain at the head of the tradernassociation.  Steven’s resignation andrnappointment as president of Sun Trust Mortgage was announced by both MBA andrnthe parent company of his new employer, Sun Trust Bank, on May 30.  The announcement came almost simultaneousrnwith Steven’s first year anniversary with MBA.</p

In a statement released this morning MBArnsaid they were pleased to announce that Stevens “has agreed to stay on asrnPresident and CEO.”  MBA Chairman MichaelrnW. Young said that, “Over the past severalrnweeks, MBA’s leadership, members and staff impressed upon Dave the importantrnrole he was playing for the industry and his unique qualifications to lead thernassociation.  The importance andrnsignificance of MBA’s voice during this critical time coupled with Dave’srnexperience and talents encouraged us to do all we could to retain him.” </p

“The past few weeks have been extremelyrndifficult for me personally and professionally,” Stevens said.  “After serious thought and consideration, Irnsimply cannot leave the MBA at such a critical time for the industry and thernassociation.  Frankly, at the end of thernday, stepping away now when so much progress is being made and so much stillrnleft to be done, did not feel right.</p

 “Goingrnthrough this experience left me encouraged by the tremendous opportunity thatrnlies within our industry and reinforced the essential component mortgagernfinance will continue to play in helping our nation’s economy recover.” hernnoted.  </p

Stevens joined MBA in May 2011 after serving as AssistantrnSecretary of Housing and Urban Development and Commissioner of the FederalrnHousing Administration (FHA).  </p

Mr. Stevens was to have joined the Company on July 16, reporting to SunTrust Mortgage President and CEO Jerome Lienhard. </p

“We have a strong leadership team in place, and continue to execute our business plan and serve the needs of the clients of SunTrust Mortgage,” said Mr. Lienhard.

All Content Copyright © 2003 – 2009 Brown House Media, Inc. All Rights Reserved.nReproduction in any form without permission of MortgageNewsDaily.com is prohibited.