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MBA’s Stevens, SunTrust Backtrack on Leadership Change

The ""Mortgage Bankers Association"":http://www.mbaa.org/default.htm (MBA) announced Monday that president and CEO David H. Stevens will continue with the organization instead of joining ""SunTrust Mortgage"":https://www.suntrustmortgage.com/ as originally planned.

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SunTrust had announced that Stevens would join the company as president. Stevens changed his mind after considering the state of the industry, he said.

""The past few weeks have been extremely difficult for me personally and professionally. After serious thought and consideration, I simply cannot leave the MBA at such a critical time for the industry and the association,"" said Stevens. ""Frankly, at the end of the day, stepping away right now, when so much progress is being made and so much still left to be done, did not feel right.""

""Going through this experience left me encouraged by the tremendous opportunity that lies within our industry and reinforced the essential component mortgage finance will continue to play in helping our nation's economy recover.""

The planned move would have seen the trade group on a new search for its next president, while the former Federal Housing Administration commissioner pursued his new post with SunTrust.

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