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Former Ginnie Mae president Ted Tozer joining PennyMac Financial Services board

Tozer stepped down from Ginnie Mae earlier this year

Ted Tozer stepped down as president of Ginnie Mae in January after serving seven years, and while the agency has still not found a permanent replacement, Tozer has found a new position.

PennyMac Financial Services, a mortgage lender and servicer, announced Wednesday that Tozer is joining the company’s board of directors, effective Aug. 1, 2017.

Prior to joining Ginnie Mae, Tozer spent more than 30 years in the financial services industry.

Earlier in his career, Tozer served as senior vice president of capital markets at National City Mortgage Company. He also served as a member of the National Lender Advisory Boards of Fannie Mae and Freddie Mac, and as chairman of the Capital Markets Committee of the Mortgage Bankers Association.

“I am thrilled that Ted Tozer has been elected to our Board of Directors,” PennyMac Financial Services Executive Chairman Stanford Kurland said. “Ted is a veteran of the mortgage banking industry who brings a wealth of experience and a deep understanding of all aspects of housing finance in America. On behalf of my fellow directors, I enthusiastically welcome his arrival.”

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