Citizens Against Government Waste, a nonprofit group that aims to cut wasteful taxpayer spending, bashed Fannie Mae and Freddie Mac for paying top executives a combined $35 million in 2009 and 2010. CAGW criticized the firms’ pay packages after reading the results of a new report released by the Federal Housing Finance Agency’s Office of Inspector General. CAGW said the report shows the CEOs at Fannie and Freddie earned a combined salary of $17 million with options to take home $24 million. “The IG report points out that, in 2009 at Fannie Mae, one of the performance benchmarks used to determine salaries was whether Fannie Mae executives would be able to sell a certain level of mortgage-backed securities (MBS),” CAGW said in a release. “Yet, the Federal Reserve was already planning on purchasing large amounts of Fannie’s MBS as a part of the company’s bailout package, hardly something that should have counted as a performance measure,” the organization said in its public complaint. The future of the GSEs continues to be a topic of discussion in Washington. The Federal Housing Finance Agency Acting Director Edward DeMarco pushed back against broad-sweeping GSE reforms posed by Republican lawmakers last week, while also saying he’s receptive to tweaking some of their proposed reforms. Write to Kerri Panchuk.
Most Popular Articles
While many homebuilders, such as D.R. Horton and Tri Pointe Homes, significantly reduced the number of new home starts over the last quarter amid sluggish homebuyer demand, Smith Douglas Homes Corp. is taking a different approach, akin to that of Lennar. Pace over price. The builder’s strategy reflects a commitment to affordability and serving the […]
-
Mortgage rate declines are raising the likelihood of a refi surge
Mar 19, 2026 -
Homebuilders Urged To Invest In Frontline Jobsite Workers Now
Mar 19, 2026 -
How hybrid operations are elevating builder performance
Apr 30, 2026 9:50 am -
HousingWire Mortgage Rankings have arrived, bringing data-driven benchmark to originator performance
Apr 30, 2026 -
After An Involuntary Pause, Orders Matter Again For LGI
Mar 20, 2026
Latest Articles
HousingWire on Tuesday announced the launch of the HousingWire Mortgage Rankings, a new performance intelligence product designed to provide a clear, data-driven view of mortgage origination activity across the U.S. The rankings benchmark mortgage originators based on observed production, offering a standardized view of performance across geographies, loan types and channels. Historically, the mortgage industry has lacked […]