Items Tagged with 'Ted Tozer'


  • Trump administration officially nominates Michael Bright to lead Ginnie Mae

    Bright has been leading Ginnie Mae on an interim basis since July 2017
    Ginnie Mae has been without a permanent leader since January 2017, but that could soon change, as the Trump administration announced Tuesday that it is formally nominating Michael Bright to serve as president of Ginnie Mae. If confirmed, Bright would take over officially for former Ginnie Mae President Ted Tozer, who stepped down at the beginning of the Trump administration.
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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.
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  • Ginnie Mae reevaluates nonbank rules

    Prepares for future distress
    Ginnie Mae President Ted Tozer explained that since the company increasingly relies on nonbank mortgage companies, he is evaluating if they have enough easy-to-sell assets to survive in times of distress.
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  • Feature: The Rise of Ginnie Mae

    It has been more than five years since Ginnie Mae entered the reverse mortgage market with its Home Equity Conversion Mortgage mortgage-backed security (HMBS). The Ginnie Mae HMBS program has had a significant impact on our industry by generating liquidity and a long-term option for secondary market execution. In addition to enhancing liquidity, our goal in creating the program was to lower interest rates for borrowers, thus helping Ginnie Mae fulfill its mission of providing affordable housing opportunities. Since October 2007, Ginnie Mae has guaranteed more than $30 billion in HMBS securities, providing a safe, secure secondary market for the
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