Tozer Joins Hous­ing Fi­nance Pol­icy Team

National Mortgage News - - Secondary - BY BON­NIE SINNOCK

FOR­MER GIN­NIE MAE PRES­I­DENT Ted Tozer, se­cu­ri­ti­za­tion pi­o­neer Lewis Ranieri and other pri­vate and pub­lic sec­tor lead­ers are form­ing a new hous­ing fi­nance pol­icy team at The Milken In­sti­tute.

Eric Ka­plan, the long­time chair of a pri­vate-la­bel mort­gage se­cu­ri­tiza- tion re­form task force, will lead the team. Other mem­bers in­clude Michael Stegman, a for­mer coun­selor to the Sec­re­tary of the Trea­sury, and Phillip Swagel, an as­sis­tant sec­re­tary for eco­nomic pol­icy at Trea­sury.

Both for­mer Trea­sury of­fi­cials have been ac­tive in post-cri­sis hous­ing-fi- nance re­form pol­icy re­search and Ka­plan pre­vi­ously worked for Ranieri Strate­gies. The cur­rent act­ing pres­i­dent of Gin­nie Mae, Michael Bright, pre­vi­ously worked for the in­sti­tute and Pen­nyMac, an is­suer Tozer now sits on the board of. Bright and the for­mer act­ing di­rec­tor of the FHFA, Ed­ward De­Marco, had pre­vi­ously led pol­icy ef­forts at the in­sti­tute, but both re­cently have move on to new po­si­tions.

Tozer, Stegman and Swagel are for­mer Obama ad­min­is­tra­tion of­fi­cials who have sup­ported the preser­va­tion of a gov­ern­ment-backed sec­ondary mar­ket.

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