Key Housing Official to Run Mortgage Bankers Group
David Stevens, the director of Federal Housing Administration, was named the president/CEO of the Mortgage Bankers Association today.
Stevens, who formerly held top positions at Freddie Mac and Wells Fargo, is joining the trade association at a time when the Obama administration and Congress are looking at making major changes in the housing finance system.
He has been involved in a range of policy issues, including efforts by state and federal officials to reach a settlement with the largest mortgage servicers.
Stevens, who joined the Obama administration in 2009, won’t be able to directly lobby his former colleagues for at least two years. Also, until he leaves the FHA at the end of the month, he is recusing himself from any issues that could affect the Mortgage Bankers Association.