David H. Stevens who announced his intention to leave his position as Assistant Secretary for Housing and Urban Development (HUD) and Commissioner of the Federal Housing Administration (FHA) earlier this month will become the new President and CEO of the Mortgage Bankers Association (MBA).
Stevens will replace John A. Courson who announced his resignation March 15. Courson will be leaving MBA on June 1 after serving as its head since January, 2009. Courson joined the Association as its Chief Operating Officer in August 2008 and served as its Chairman in 2003.
MBA is the national association representing the real estate finance industry. It will be interesting to see how Steven's appointment as its head will mesh with the Obama Administration's rule on revolving door appointments. It states that, upon leaving government service, former Obama Administration appointees are prohibited from lobbying any covered official in the entire Executive branch for as long as President Obama is in office.