CEO stepping down to focus on health and family after 2016 cancer diagnosis

Stevens

David Stevens will retire as CEO of the $57 million-revenue Mortgage Bankers Association on Sept. 30, 2018, saying he is stepping down to focus on his health and family. He was diagnosed with prostate cancer in 2016.

Stevens became MBA's CEO in 2011, having previously been U.S. assistant secretary of housing. He had announced his cancer diagnosis to the association's membership during the group's annual conference in Boston last year. The CEO announced his upcoming retirement during his keynote speech at this year's conference, which concluded Wednesday in Denver.

"With my cancer in remission, focusing on family, friends and staying healthy is my priority," Stevens said in a statement. "This was a difficult decision; it's hard to walk away from supporting an industry that shaped my career. It's been an honor to work with the talented staff, strong leadership and diverse membership of the MBA."

MBA credits Stevens, 60, with driving the group to its strongest financial health in its 104-year history. The association was rebranded under his direction—it kept the same name but redesigned its logo—and membership growth has surged in recent years.

Stevens earned more than $1.4 million in compensation in 2015, according to MBA's most recent tax records. The association has formed a search committee and has launched a nationwide search for a new CEO.