twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
Financial Regulation News | Mortgage Regulations
Bank and mortgage regulators, regulations and regulatory actions. Coverage of regulatory legislation and testimony.

www.mortgagebranchmanagerjobs.com
Report Looks at GSE Executive Compensation Practices

FHFA OIG recommends changes to regulator oversight

Dec. 10, 2012

By Mortgage Daily staff


The regulator of the Federal National Mortgage Association and the Federal Home Loan Mortgage Corp. is being advised to strengthen oversight of the executive compensation practices in place at the pair of secondary lenders.

The median cash compensation for the 23 executive vice presidents at Fannie Mae and Freddie Mac was $1.7 million in 2011.

Senior vice presidents at the government-controlled enterprises average $723,500. There are 62 senior vice presidents between the two firms.

The median cash compensation for the 333 vice presidents at Fannie and Freddie is $388,000, while the 1,650 directors at both secondary lenders earn an average of $205,300.

The findings were discussed by the Federal Housing Finance Agency Office of Inspector General in a report released Monday entitled, FHFA's Oversight of the Enterprises' Compensation of Their Executives and Senior Professionals.

Executive compensation at Fannie and Freddie draws much attention from the Congress and the media due to taxpayer support of the two companies that so far totals $188 billion.

The pair of housing finance agencies determine executive compensation based on market data provided by consulting firms.

The inspector general highlighted FHFA's reduction in annual compensation paid to chief executive officers at Fannie and Freddie to $0.6 million from around $5.0 million.

FHFA has also implemented changes recommended by the inspector general in March 2011. Among the recommendations was that the FHFA conduct examinations of executive compensation procedure.

"On the other hand, FHFA's oversight of senior professional compensation is comparatively limited," the report stated. "For example, FHFA has not reviewed, examined, or tested the structures, processes, or controls by which the enterprises compensate their senior professionals to gain assurance of their effectiveness."

While the report acknowledged that FHFA has delegated non-executive compensation to Fannie and Freddie, the inspector general warned that "the agency's lack of independent assessment limits its capacity to ensure that the costs associated with senior professional compensation are warranted."

FHFA is advised to develop a plan to strengthen oversight of compensation of senior executives at Fannie and Freddie through reviews or examinations -- a recommendation that the regulator reportedly agreed with.

next story

back to current headlines


GSE News | Fannie/Freddie Share Statistics
Fannie, Freddie and FHLB news. Coverage of government sponsored enterprise regulation, operations and litigation.


Corporate Mortgage News
M e r g e r s, a c q u i s i t i o n s and private and public offerings. Other corporate activity including executive appointments, bankruptcies name changes.


Logout forgot
password?

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders