Tozer Joins Housing Finance Policy Team
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.