Honorable Theodore W. Tozer
Ginnie Mae
Photo of Honorable 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 $1.6 trillion portfolio of mortgage-backed securities (MBS) and more than $460 billion in annual issuance. The expansion of the investor base allowed Ginnie Mae's portfolio to grow from $1 trillion to $1.5 trillion in less than four years and to fund the administration housing recovery initiatives through FHA , VA and RHS lending. Throughout his tenure, Mr. Tozer remains committed to bringing global capital into the housing finance system. This commitment is evident in the organization's emphasis on expanding 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 his leadership, Ginnie Mae has embarked on a multi-year hiring initiative designed to bring key functions in-house, manage the sharp increase in MBS volume and Issuers, and monitor the housing finance reform landscape. In FY 2013, he increased the Ginnie Mae team from 85 to 110 employees, growing the organization by more than 29 percent.  Also, in FY2013, Ginnie Mae saw nearly $800 million in profit. Mr. Tozer also oversees the effort to improve the ease of doing business with Ginnie Mae, turning the corporation into a more customer-centric organization and enhancing the 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 25 years, overseeing pipeline hedging, pricing, loan sales, loan delivery and credit guideline exceptions.  During his tenure at NCM, the company never experienced a loss and annual loan sales grew from $1 billion in 1989 to $106 billion in 2003.  Mr Tozer was instrumental in transforming NCM from an "originate and hold" lender to an "originate and sell" lender.  In 1987, he had NCM approved as a Ginnie Mae Issuer.
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, he was chairman of the Capital Markets Committee of the Mortgage Bankers Association of America (MBA) from 2002 to 2004, a member of the MBA Board of Governors from 2002 to 2004, a 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. He and his wife Sandy live in Fairfax, VA.

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