Fannie Mae and Freddie Mac hike pay for their CEOs

U.S. government-controlled mortgage finance companies Fannie Mae and Freddie Mac on Wednesday disclosed huge pay raises for their chief executive officers, part of a plan sanctioned by their regulator to attract and retain talent. Fannie Mae CEO Timothy Mayopoulos and his counterpart at Freddie Mac, Donald Layton, will each now earn $4 million a year, up from previous annual salaries of $600,000. The Federal Housing Finance Agency, an independent regulator, slashed executive pay at the two companies in 2012.

Fannie Mae and Freddie Mac hike pay for their CEOs source: http://finance.yahoo.com/news/fannie-mae-freddie-mac-hike-173710637.html