David Stevens has joined the board of directors of Dynex Capital, a real estate investment trust that invests in mortgage-backed securities on a leveraged basis. Stevens has also been appointed to the company’s investment committee.
Stevens is well-known in the mortgage and housing industry as the former president and CEO of the Mortgage Bankers Association, as well as serving as commissioner of the Federal Housing Administration during the Obama administration.
“It is with great pleasure that we welcome David to the board,” said Michael Hughes, chairman of the board at Dynex. “He brings an important skill set to our board with his broad and unique career experiences, combining significant knowledge of real estate finance, mortgage banking and public policy related to the U.S. housing finance system accrued over more than 35 years.”
“David’s experience will be extremely beneficial given the anticipated changes in the real estate finance industry as the federal government seeks to alter its historical role by reducing the GSE footprint and the Federal Reserve’s balance sheet,” said Byron Boston, president and CEO of Dynex. “We believe there will be a need for greater private capital participation in the U.S. housing system and he will be extremely helpful as we navigate this changing landscape.”