Dave Stevens
President and Chief Executive Officer, Emeritus Mortgage Bankers Association
Mr. Stevens is a former Chief Executive of the Mortgage Bankers Association (MBA) and is currently a mortgage policy consultant. Mr. Stevens served as the Chief Executive Officer and President of the MBA from June 2011 through August 2018. He has a well-rounded background from working with Long & Foster Real Estate, Inc. in the role of Senior Vice President, then as the President and Chief Operating Officer. In addition, he served as the Senior Vice President of Mortgage Sourcing and Single-Family Lending at Freddie Mac. He sits on the Board of Directors for the National Association of Mortgage Brokers (NAMB) and on the lender’s advisory council for the Mortgage Bankers Association. He was the Founding Executive Sponsor of the Woman’s Mortgage Industry Network and coordinated the first Latino initiative joint venture with Freddie Mac and Latino mortgage industry leaders.
From Dave Stevens
Competitors that implement strategies that offer differentiated product, sound advice, build relationships, and generate clean loans efficiently are going to win.
We have a commodity mortgage business run by many leaders who grew up with a business model designed in the 1930s.
The industry will be disrupted by competitors that differentiate product, help the consumer make sound choices for their circumstances, become customers for life, and do it by manufacturing defect-free loans quickly and efficiently.
The value proposition for loan officers is broken…the model makes absolutely no sense. If you are building this from scratch, you wouldn’t build the model the way it works today.
My view on GSE reform is there needs to be more competition… [the GSEs] still behave very much like shareholder owned companies even though they’re in conservatorship under the umbrella of the US Treasury and FHFA.
They [GSEs] ought to have a more explicit and meaningful duty to serve, [with] access to affordable housing on a broader spectrum.
On issues ranging from loan officers to GSEs, Dave Stevens is not afraid to explore ideas that challenge the status quo or popular opinion if they are the best and most actionable answer to a real world problem and have strategic consequences. He sees a strong need for innovation moving forward and believes mortgage banking is operating under archaic rules in many ways, whether it is through regulation or what he views as the overvaluation of LOs. Having been a staunch advocate for regulation reform, Mr. Stevens believes in and encourages responsible regulation with bright lines of permissible activities. The future of GSE’s should be defined by competition, according to Steven’s thought leadership on this issue. Additionally, GSEs should embody a new “duty to serve” while extending markets into more diverse communities.
Finally, Mr. Stevens embodies the kind of forward thinking, combined with pragmatism, that defines so many mavericks. He envisions a future for mortgage banking defined by a diverse consumer base, and an industry that responds to those demographic shifts effectively and intelligently. Mavericks and companies taking this stance will thrive moving forward., in Mr. Steven’s view.
About Dave Stevens
Dave is a visionary leader who balances strategic planning for long term results with the need to execute and to move forward with momentum. He consistently motivates (rather than micro-manages) those around him and he sets out clear goals so there is no confusion about the expected results. He also engenders a great deal of loyalty among those with whom he as worked. His success in widely varied roles is a testament to strong core values and rock solid skills.
Catherine S. Read Civic Engagement Strategist, Speaker, and Idea Networker at ReadThinkAct.com
On issues ranging from loan officers to GSEs, Dave Stevens is not afraid to explore ideas that challenge the status quo or popular opinion if they are the best and most actionable answer to a real world problem and have strategic consequences. He sees a strong need for innovation moving forward and believes mortgage banking is operating under archaic rules in many ways, whether it is through regulation or what he views as the overvaluation of LOs. Having been a staunch advocate for regulation reform, Mr. Stevens believes in and encourages responsible regulation with bright lines of permissible activities. The future of GSE’s should be defined by competition, according to Steven’s thought leadership on this issue. Additionally, GSEs should embody a new “duty to serve” while extending markets into more diverse communities.
Finally, Mr. Stevens embodies the kind of forward thinking, combined with pragmatism, that defines so many mavericks. He envisions a future for mortgage banking defined by a diverse consumer base, and an industry that responds to those demographic shifts effectively and intelligently. Mavericks and companies taking this stance will thrive moving forward., in Mr. Steven’s view.
