Mortgage Bankers Association (MBA) President and CEO John A. Courson has endorsed yesterday's announcement by President Obama of his intention to nominate Theodore W. Tozer as president of Ginnie Mae and called on the Senate to quickly take up and approve the nomination.
Tozer is currently senior vice president of capital markets for National City Mortgage, part of the PNC Financial Services Group. Courson calls the choice ‘brilliant.’
‘As Ginnie Mae's role in the market has increased as a result of the tremendous growth of FHA, I can't think of anyone better suited to run Ginnie Mae," Courson adds. "Ted has unparalleled experience and expertise in the unique nature of the secondary mortgage market that will serve the American people well in his new position."
SOURCE: Mortgage Bankers Association