Former FHA Commissioner And MBA President Remembered For Impact On Housing Industry


Federal officials and members of the mortgage industry are mourning the loss of David Stevens, who helped the country navigate the aftermath of the 2008 housing crisis before serving as president and CEO of the Mortgage Bankers Association for seven years.

Stevens worked as the Federal Housing Administration Commissioner at the U.S. Department of Housing and Urban Development under former President Barack Obama. There from 2009 to 2011, he focused on restoring the administration to fiscal health and was a key player in drafting housing policy, according to an article by Reuters.

HUD Secretary Marcia Fudge said on Wednesday in a statement, “This country is better because of David’s service and contributions.”

“Over the course of his forty-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,” Fudge said.

Stevens served as MBA’s president and CEO from 2011 to 2018. Bob Broeksmit, current president and CEO, said in a statement that he was “instrumental in rebuilding our organization and leading the industry out of the Great Recession.”

“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,” Broeksmit said.

Broeksmit credited Stevens and his wife, Mary, with the 2011 creation of the MBA Opens Doors Foundation. That organization has helped over 16,000 families with critically ill or injured children stay in their homes while their child is in treatment.

In 2019, Stevens founded Mountain Lake Consulting in Virginia, providing services to mortgage-related companies in management, organizational structure, strategic planning, federal regulatory, and legislative policy, according to his LinkedIn profile.

“MBA and the entire industry will miss Dave’s voice, leadership, and friendship,” Broeksmit said.

Stevens’ death at the age of 66 was unexpected, according to the MBA, but he was open on social media about his battle with cancer. On Jan. 5, he posted on Facebook that had labwork done at the Skip Viragh Outpatient Cancer Building in Baltimore, MD.

Stevens posted tips for others in a June 26, 2017, LinkedIn blog that said, “Cancer may get anyone of us ultimately, but medical advancements, attitude, and so much else that drives the human spirit can make the difference.” He received his cancer diagnosis in August of 2016.

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