PennyMac Financial Services, Inc., a specialty financial services firm, announced Thursday that August 1, 2017 former President of the Government National Mortgage Association (Ginnie Mae), Theodore W. Tozer, will join its Board of Directors.
Tozer served as President of Ginnie Mae for seven years and managed $1.8 trillion in guarantees of mortgage-backed securities. Ginnie Mae, as a part of the Department of Housing and Urban Development, creates a secondary market to buy and sell residential mortgages.
Prior to Ginnie Mae, Tozer served as SVP of Capital Markets at National City Mortgage Company, a member of Fannie Mae and Freddie Mac’s National Lender Advisory Boards, and at the Mortgage Bankers Association of America as Chairman of the Capital Markets Committee. He received a B.S. degree in Accounting and Finance from Indiana University and is a Certified Management Accountant. Overall, Tozer has spent more than 30 years in the financial services industry.
“I am thrilled that Ted Tozer has been elected to our Board of Directors,” said PFSI Executive Chairman Stanford L. Kurland. “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.”
For more information on Tozer, click here.