Fannie, Freddie Top Exec 09 Pay Noted

Posted on December 24, 2009

Fannie Mae's CEO Michael Williams and Freddie Mac's CEO Charles Haldeman received about $6 million each in compensation in 2009, reports CNN today.  Other senior executives also had enviable pay packages.  But unlike many other financial firms, including those under the supervision of pay czar Kenneth Feinberg, these packages did not include long term stock awards or options.  The Federal Housing Finance Authority approved all the GSE compensation packages, and FHFA Acting Director Ed DeMarco noted that unlike the other firms, the long term outlook for Fannie and Freddie as private companies is very much under discussion.  Hence, long term stock awards were not considered appropriate.  

I discuss the companies' possible futures in a recent blog post, in Shelterforce Magazine, and in a guest blog piece at the National Housing Conference's Open House blog.