Ginnie Mae Summit 2014 - Program

of 2014. In addition, San Antonio’s East Side is the
only neighborhood in America that has received
funding to implement major projects under three
key Obama Administration revitalization initiatives:
Choice Neighborhoods, Promise Neighborhoods and
the Byrne Criminal Justice Program.
In March 2010, Castro was named to the World
Economic Forum’s list of Young Global Leaders.
Later that year, Time magazine placed him on its
“40 under 40” list of rising stars in American politics.
Previously, Castro served as a member of the San
Antonio City Council. He is also an attorney and
worked at Akin, Gump, Strauss, Hauer & Feld before
starting his own practice.
Secretary Castro received a B.A. from Stanford
University in 1996, and a J.D. from Harvard Law
School in 2000. He and his wife Erica have a
daughter, Carina.
HONORABLE
THEODORE W. TOZER
President
Ginnie Mae
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 more
than $1.5 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 FY 2013, 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 (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 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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