Fannie, Freddie CEOs Get Pay Raises as White House Objects
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The chief executive officers of Fannie Mae and Freddie Mac may see more than a sixfold increase in their compensation to $4 million in spite of objections from President Barack Obama’s administration and some lawmakers.
The Federal Housing Finance Agency, which controls the mortgage giants and has sole authority over their CEOs’ pay, allowed Fannie Mae and Freddie Mac to return compensation closer to historic levels. Fannie Mae CEO Timothy J. Mayopoulos, whose pay had been set at $600,000 since 2012, was given a base salary of $750,000, more than $2 million in deferred pay and performance-based awards of as much as $1.2 million, according to a public filing on Wednesday.