David H. Stevens fervently championed the American Dream
Tributes flowed after the passing of industry notable David H. Stevens (pictured) – a seasoned veteran who was labeled as a “legend” by grieving colleagues. His death of cancer was announced Wednesday by the Mortgage Bankers Association (MBA), an influential trade association he once headed.
The former president and CEO of the MBA spent eight years at the helm between 2011 and 2018. His career trajectory was impressive in its breadth – including stints at Freddie Mac, Wells Fargo and Long & Foster.
He also served as assistant secretary of housing – federal housing commissioner at the Department of Housing and Urban Development under President Obama prior to joining the MBA. He later joined financial consulting firm Mountain Lake Consulting after his retirement from the association.
Given a chance with no mortgage or sales experience
Colleagues of Stevens took to social media to honor him. Ron Wivagg, senior vice president at Prosperity Home Mortgage, wrote on LinkedIn how Stevens was the first to give him a shot in the industry as a newly minted college graduate. Wivagg had participated in a series of job interviews, he said, and the one with Stevens was his last one.
“I thought we hit it off, but then he told me I would have a tough time because I was so young and inexperienced,” Wivagg recalled. “I was a real baby face and realtors would eat me alive. I guess my response was acceptable because I got hired the next day.”
That anecdote dates back more than three decades and yet it still resonates powerfully with Wivagg: “This was almost 31 years ago, and not a day goes by I don’t think how lucky I am to have been mentored by this man, a legend in our industry.”
Lisa Schreiber, president of LSK Consultants, also paid tribute to Stevens. “So incredibly heartbroken to hear of David H. Stevens’ passing,” she wrote. “He was a true leader in our industry who didn’t shy from the “good fight. He will be so missed by so many of us.”
A fervent believer in the American Dream
Kim Nichols, chief TPO production officer and senior managing director at Pennymac TPO, recalled her recent hosting duties for an industry conversation of which Stevens was a part.
“He was filled with energy and great optimism about what the future holds for our industry,” Nichols wrote. “Truly inspirational. What a gift to us all! I view David as the single most influential leader in our industry. He was a true believer in the American Dream and fought for this on so many levels. His legacy will endure for generations to come.”
Avi Marcus, managing partner, ResiTitle PLLC, also recalled some of Stevens’ personal attributes: “He was as giving with his time as he was with advice and generosity. His insight and passion had an indelible impact on me, and I’ll be forever grateful.”
Scott Olson, executive director of the Community Home Lenders of America (CHLA), issued a statement: “It is with great sadness that we mourn the passing of Dave Stevens. He was a significant force in the mortgage industry, and his leadership, vision and insight helped to shape the current landscape. Our hearts go out to his wife Mary and their children.”
Bob Broeksmit, the MBA’s president and CEO, also released a statement expressing condolences to Stevens’ family. He recalled Stevens’ impact on the industry “…as one of its great leaders and fiercest advocates.” He added that Stevens “grew up in the mortgage business before serving the industry and its customers both as FHA commissioner during and immediately after the 2008 financial crisis and then as president and CEO of MBA, where he was instrumental in rebuilding our organization and leading the industry out of the Great Recession.”
In her post honoring Stevens, Nichols included a meme of sorts featuring the late industry leader’s visage with a quote that embodied the optimism many of his colleagues recalled in the wake of his death. The quote is a prediction that yields optimism to an industry battered by inflation and high mortgage rates.
The messages reads: “We have the biggest wave of homebuyer demand in history coming our way.”
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