During the financial crisis, the government-sponsored enterprises known as Fannie Mae and Freddie Mac were put into conservatorship. “It’s a sector that doesn’t really deserve to be in.
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The federal takeover of Fannie Mae and Freddie Mac was the placing into conservatorship of the government-sponsored enterprises (GSEs) Federal National Mortgage Association and Federal Home Loan Mortgage Corporation (Freddie Mac) by the U.S. Treasury in September 2008. It was one of the financial events among many in the ongoing subprime mortgage crisis.
The debate continues as to what the compensation level for the CEOs of Fannie Mae and Freddie Mac should be since FHFA Director Mel Watt announced on July 1. these CEOs deserve a raise," Rood.
The chief executives of Fannie Mae and Freddie Mac could collect up to $4 million a year. compensation for the chief executives was limited to $600,000. The decision to raise the limit was approved.
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Fannie, Freddie CEOs to Get $3.4 Million Raises Firms’ regulator approves increase over objection of White House and some lawmakers
A proposed bi-partisan bill to cap the salaries of the CEOs at both Fannie Mae and Freddie Mac passed in the U.S. Senate. On July 1, Watt announced a proposed compensation package that would raise.
Of course, the truth is that a few brave journalists and politicians did raise concerns over Fannie and Freddie. Trouble was. While some former CEO’s – and even pundits – have been held accountable.
Fannie and Freddie’s chief financial officers are exempt from the base salary cap, meaning they’d make more than the new chief executives. CFOs Ross Kari and Susan McFarland will make $675,000 and.
House Votes to Cap Fannie Mae, Freddie Mac CEO Pay at $600K. Watt proposed new executive compensation plans for Fannie Mae CEO Timothy Mayopoulos and Freddie Mac CEO Donald Layton that could raise their pay as high as the 25th percentile of the market, which computes to about $7.26 million per year.
Earlier this year the CEOs of Fannie Mae (OTCQB:FNMA) and Freddie Mac (OTCQB:FMCC) received boosts to their annual compensation from their old compensation of $600,000 each to a new pay package that added $3 million raises. But recently the president signed a bill to cap compensation at $600,000. Background.
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Corker Hits Big Pay Raise For Fannie, Freddie CEOs.. Agency decision to raise the compensation for the chief executive officers of government-sponsored enterprises Fannie Mae and Freddie.