After months of speculation, the Mortgage Bankers Association has found a replacement for its departing iconic leader. The new chief is a seasoned executive with an Ivy League education.
Back in October 2017, the Washington-based association revealed that David H. Stevens, its president and chief executive officer, will leave in September of this year.
Stevens, who came from his Obama administration post as Federal Housing Commissioner, bridged the gap between the conservative-leaning MBA and the liberal Obama administration.
But during the last presidential campaign, Stevens expressed a deep disgust of candidate Donald J. Trump on social media — putting the trade group’s chief lobbyist in an awkward position when Trump landed a surprise victory.
On Thursday, MBA announced that it has settled on a replacement for Stevens.
The statement said Robert D. Broeksmit will take the reins from Stevens in September.
“I’ve known Bob for over a decade, and he is an excellent choice to lead MBA,” Stevens said in the press release. “Bob brings a deep understanding of how the industry works and understands the needs of our membership.”
Broeksmit joins the group from Treliant Risk Advisors, where he is president and chief operating officer. He started with the company in 2011.
Other employers for Broeksmit since his mortgage career began in 1986 include Capital One Financial Corp., Chevy Chase Bank and Prudential Home Mortgage Co.
He reportedly earned his bachelor’s degree from Yale University in 1985.
Broeksmit, a Certified Mortgage Banker, has been active in multiple financial services trade associations. In addition to board memberships at MBA, he also served as chairman of the American Bankers Association’s Mortgage Markets Committee.
In 2004, Broeksmit spoke on behalf of MBA about new Home Mortgage Disclosure Act regulations, while he testified on behalf of the group in 2006 at a Senate Subcommittee on Housing and Transportation and Subcommittee on Economic Policy hearing about nontraditional mortgages,
“MBA has never been stronger, and we have full confidence that Bob is the right person to take MBA to even greater heights,” MBA Chairman David Motley said in the news release. “He brings with him decades of industry knowledge and leadership experience at a time when our industry is facing great change and disruption.”
Broeksmit will start with MBA on Aug. 20 — providing several weeks for the transition process.
