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Theodore W. Tozer
Photo of Theodore W. Tozer
Theodore W. Tozer was sworn in as President of Ginnie Mae on February 24, 2010, bringing with him more than 30 years of experience in the mortgage, banking, and securities industries. As President of Ginnie Mae, Mr. Tozer actively manages Ginnie Mae's $1.4 trillion portfolio and more than $388 billion in annual issuance. Throughout his tenure, Mr. Tozer has remained committed to bringing global capital into the housing finance system. This commitment is evident in the organization's emphasis on the expansion of its domestic and international investor base, which contributed to Ginnie Mae reporting an average net income of approximately $800 million in each Fiscal Year of his tenure.
Mr. Tozer is responsible for the administration of Ginnie Mae's mortgage-backed securities (MBS) programs. He also oversees the organization's enterprise-wide risk management capabilities and capital market activity. Under Mr. Tozer's leadership, Ginnie Mae has embarked on a multiyear hiring initiative designed to bring key functions in-house, as well as manage the sharp increase in volume and Issuers. In FY 2012, he increased the Ginnie Mae team from 85 to 104 employees, growing the organization by more than 22 percent.  Mr. Tozer has also been overseeing the effort to improve the ease of doing business with Ginnie Mae and transparency of the data disclosures of the mortgage loans backing Ginnie Mae securities.
Prior to his appointment as President, Mr. Tozer served as Senior Vice President of Capital Markets at the National City Mortgage Company (NCM) for more than 20 years. There, his responsibilities included overseeing pipeline hedging, pricing, loan sales, loan delivery, and credit guideline exceptions. While at NCM, the company’s annual loan sales grew from $1 billion in 1989 to $106 billion in 2003. During his tenure, NCM never experienced a loss. Mr. Tozer was instrumental in transforming NCM/NCC from an "originate and hold" lender to an "originate and sell" lender. Prior to NCM's creation, Mr. Tozer served as BancOhio Mortgage Company's Chief Financial Officer, a subsidiary of (NCC) from 1985 to 1989, where he managed BancOhio Mortgage Company's acceptance as a Ginnie Mae Issuer and prior to entering the mortgage industry Mr. Tozer was BancOhio Securities Dealer's Chief Operating Officer from 1979 to 1985.
Mr. Tozer served as a charter member of Fannie Mae’s National Lender Advisory Board until 2009. He was also a member of Freddie Mac’s National Lender Advisory Board. In addition, Mr. Tozer served as Chairman of the Capital Markets committee of the Mortgage Bankers Association of America (MBA) from 2002 to 2004. Mr. Tozer also served as a member of the MBA Board of Governors from 2002 to 2004, as trustee of the Ohio Mortgage Bankers Association from 1999 to 2001, and as part of the Fannie Mae Midwest Secondary Advisory Group from 1994 to 1999.
Mr. Tozer received his Bachelor of Science Degree in Accounting and Finance from Indiana University. He became a Certified Public Accountant in 1980 and a Certified Management Accountant in 1984.