Theodore (Ted) Tozer is a non-resident Fellow at the Urban Institute’s Housing Finance Policy Center (HFPC). Before joining HFPC, he was a Senior Fellow at the Milken Institute’s Center for Financial Markets. Ted also served as President of Ginnie Mae for seven years, bringing with him more than 30 years of experience in the mortgage, banking, and securities industries. As president of Ginnie Mae, he actively managed Ginnie Mae’s nearly $1.7 trillion guarantees of mortgage-backed securities and more than $460 billion in annual issuance. In addition, he led the modernization effort of the Ginnie Mae securitization platform. He oversaw the transition from a depository-dominated issuer base to an independent mortgage banker-dominated base, as well as the transition from the Ginnie Mae I program to the Ginnie Mae II program. Ted also was the Obama administration’s point person for rewriting the Home Affordable Refinance Program (HARP).
Before joining Ginnie Mae, he served as Senior Vice President of capital markets at the National City Mortgage Company (NCM) for more than 25 years, overseeing pipeline hedging, pricing, loan sales, loan delivery, and credit guideline exceptions. Ted was instrumental in transforming NCM from an “originate and hold” lender to an “originate and sell” lender. He also serves on the Board of Directors of PennyMac Financial Services, a mortgage originator. Ted holds a bachelor’s in accounting and finance from Indiana University.
