The president and chief executive of the Mortgage Bankers Association (MBA) David Stevens is stepping down after one year to become the president of SunTrust Mortgage.

“Dave has been an exceptional leader for MBA,” said MBA chairman Michael Young. “Although we are sorry to see him leave so soon, he leaves us well-positioned for the future.”

Stevens served as the Federal Housing Administration commissioner before joining MBA in May 2011 as the trade group’s top executive.

His resignation goes into effect June 30 and MBA’s chief of staff Marcia Davies will become the interim head of the trade group.

“A search for a permanent replacement is already underway,” MBA said.

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