Skip to main content

Ginnie Mae Prez: Stability in Housing Equals Economic Prosperity
Jun 09, 2015

Ginnie Mae President Ted Tozer, in a keynote address at the U.S./China Innovative Urbanization and Housing Finance Roundtable in Shanghai, China, stated that “a vibrant and innovative housing finance system is the cornerstone of economic prosperity in the United States. And, it can be in China. This is something our nations share,” said Tozer. Tozer made the remarks to a group of government, academic, and industry leaders at the Shanghai Academy of Social Sciences. Many countries consider the U.S. housing finance system a model for encouraging affordable housing options, promoting stable communities, and building wealth. Affordable housing financing is not only valued in the U.S., but also among the other economies within the Asia-Pacific region.

“The dream of homeownership has long represented an ideal for many around the world, whether they live in cities, towns or farms. This dream crosses borders and continents; economic structures and political ideologies,” said Tozer. “Both China and the U.S. will benefit through an exchange of information on housing finance and housing markets.”

Investors place a premium value on Ginnie Mae’s full faith and credit guaranty, which helps ensure that the corporation can maintain a consistent pool of funding for Federal Housing Administration (FHA), the Department of Veterans Affairs (VA), the Office of Public and Indian Housing (PIH), and the Department of Agriculture’s Rural Housing Service. Ginnie Mae’s role in the secondary market supports the economic stabilization efforts of Congress and the Administration by making it possible for financial institutions to continue mortgage lending. Ginnie Mae guarantees more than $1.5 trillion of mortgage-backed securities and the vast majority of government loans are placed in Ginnie Mae MBS. Access to the Ginnie Mae program is critical for government loan originators.

President Tozer is traveling to Shanghai, Beijing, and Taipei, Taiwan to meet with banking and investment institutions, policy analysts and government leadership in the housing finance field. Ginnie Mae shares the common interest of enhancing housing finance system and stabilizing housing market with Chinese partners.

Jun 09, 2015
Rocket Launches Visa Signature Card

Rocket says its first-of-its kind credit card will help clients save on home purchases and homeowners pay off mortgages.

Guild Mortgage Acquires Cherry Creek Mortgage

Terms of purchase not disclosed; reverse mortgage volume added to Guild.

Mar 14, 2023
Vigilance, Dedication, And Commitment Forge Legends

Submit a nomination for Mortgage Banker Magazine’s Legends of Lending.

Mar 10, 2023
FTC Moves To Block Black Knight, ICE Merger

Says it 'would drive up costs, reduce innovation, and reduce lenders’ choices.'

Mar 09, 2023
Rocket Arms Brokers With Bully Shield Vs. UWM

Rocket covers penalties and court fees for brokers who want to get out of United Wholesale Mortgage’s ultimatum contract. 

Feb 06, 2023
Top Texas Originator Sees No Surrender To 2023

Big cities will determine the battle

Jan 26, 2023