When FHA's Stevens Became Available, MBA Moved Quickly

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While change at the top of the Mortgage Bankers Association was expected eventually, the trade group's board didn't think it would happen this quickly.

Chairman Michael Berman said he recently heard that David Stevens might be leaving his position at the Department of Housing and Urban Development so he gave him a call. Still, the organization had always seen its current CEO John Courson as "a bridge" and was preparing a succession plan, Berman said in an interview with National Mortgage News at the Regional Conference of the Mortgage Bankers Association in Atlantic City, N.J.

As part of that succession plan, MBA was slated to form a search committee some time this year to start the process. Then, Stevens became available and the situation accelerated. He got the job and starts June 1.

MBA is looking for Stevens to make it a more member-driven organization. Berman added that the FHA chief is one of those people who has a great profile both inside the mortgage industry and on Capitol Hill. According to Berman, "there is no one better qualified to lead the mortgage industry."

As for Courson, in his prepared remarks, Berman told attendees that this grizzled industry veteran did a phenomenal job at MBA over the past three years.

Meanwhile, Stevens and Courson were scheduled to speak at the New Jersey conference but both were no shows.

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