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Saturday, April 18, 2020 | History

4 edition of Executive compensation at fannie mae found in the catalog.

Executive compensation at fannie mae

Lucian Bebchuk

Executive compensation at fannie mae

a case study of perverse incentives, nonperformance pay, and camouflage

by Lucian Bebchuk

  • 125 Want to read
  • 15 Currently reading

Published by Harvard Law School in Cambridge, MA .
Written in English


Edition Notes

StatementLucian Bebchuk & Jesse Fried.
SeriesDiscussion paper -- no. 505, Discussion paper (John M. Olin Center for Law, Economics, and Business : Online) -- no. 505.
ContributionsFried, Jesse., John M. Olin Center for Law, Economics, and Business.
Classifications
LC ClassificationsK487.E3
The Physical Object
FormatElectronic resource
ID Numbers
Open LibraryOL16262287M
LC Control Number2007615571

  The debate continues as to what the compensation level for the CEOs of Fannie Mae and Freddie Mac should be since FHFA Director Mel Watt announced on July 1 that the top executives at the GSEs.   Fannie Mae and Freddie Mac paid top executives a combined $35 million in and , while the CEOs at Fannie and Freddie earned a combined salary of $17 million with options to take home $   Obama’s Bizarre Executive Privilege Claim Over Fannie And Freddie. Comments; John Berlau Senior Fellow, CEI. Ma Fannie Mae and Freddie Mac. with everything from violating the Administrative Procedures Act to unconstitutionally taking property without just : John Berlau. There has already been a lot of noise made over the weekend following last Thursday’s FHFA Inspector General report on the high compensation packages for executives of Fannie Mae and Freddie Mac. Here is a quick break down from HousingWire: Continued.


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Executive compensation at fannie mae by Lucian Bebchuk Download PDF EPUB FB2

Nine executives at Fannie and Freddie are paid $2 million or more, despite a $, congressional cap on the CEOs' salaries. The targeted executive compensation paid to senior executives of Fannie Mae and Freddie Mac is established after consideration of private sector pay comparability reviews prepared by outside pay consultants retained by the boards of directors and by FHFA, and in consultation by FHFA with the Treasury Department’s Special Master for TARP Executive Compensation.

This paper is a case study of Fannie Mae's executive compensation arrangements during the period - First, by richly rewarding executives for reporting higher earnings, without requiring return of the compensation if earnings turned out to be misstated, Fannie Executive compensation at fannie mae book arrangement provided perverse incentives to inflate by: Based on the news reports of the Washington Post, the salary of CEO of Fannie Mae was capped at US$, a year.

To reduce the work load of the CEO, the company introduced new Executive compensation at fannie mae book – .Fannie Mae reported annual net income of $ billion and annual pre-tax income of $ billion. 1 As defined in the Act, “executive officer” means “the chairman of the board of directors, chief executive officer, chief financialFile Size: KB.

FNMA - key executives, insider trading, ownership, revenue and average growth rates. Detailed company description & address for Fannie Mae. A free inside look at Fannie Mae salary trends based on 2, salaries wages for jobs at Fannie Mae.

Salaries posted anonymously by Fannie Mae employees. Executive compensation at fannie mae book Mae. A market-based, competitive executive compensation program is consistent with good stewardship of taxpayer support, as it enables us to attract and retain able and experienced executives who are essential to effectively manage our $ trillion book of business.

Executive Vice President – Single-Family Business: Celeste Mellet Brown Executive Vice President and Chief Financial Officer: John Forlines Senior Vice President and Chief Risk Officer: Jeffery R. Executive compensation at fannie mae book Hayward Executive Vice President and Head of Multifamily: Steve James Senior Vice President and Chief Marketing Officer: Nancy Jardini.

Executive Compensation at Fannie Mae: A Case Study of Perverse Incentives, Nonperformance Pay, and Camouflage Journal of Corporation Law, Vol.

30, No. 4, pp.UC Berkeley Public Law Research Paper No. Cited by: Fannie Mae is compensating interim CEO Hugh Frater and Benson, as president, “a total of $ million to Executive compensation at fannie mae book the same responsibilities for which it had previously paid $,” the Author: Katy O'donnell.

Browse Executive Salaries. Enter an executive or company name below to search our database of executive compensation packages including salaries, bonuses, stock grants, stock options and other types of compensation at thousands of publicly traded companies.

Director salaries at Fannie Mae can range from $, - $, This estimate Executive compensation at fannie mae book based upon 66 Fannie Mae Director salary report(s) provided by employees or estimated based upon statistical methods. When factoring in bonuses and additional compensation, a Director at Fannie Mae can expect to make an average total pay of $,Location: Washington, DC Dallas-Fort Worth, TX.

Executive Compensation at Fannie Mae: A Case Study of Perverse Incentives, Nonperformance Pay, and Camouflage Lucian Bebchuk∗ and Jesse Fried** This paper examines Fannie Mae’s executive compensation arrangements during the period We identify and analyze four problems with these arrangements.

The SEC outlined that Fannie Mae and Freddie Mac CEOs' direct compensation will consist of an annual base salary of $, fixed deferred salary. Executive Compensation at Fannie Mae: A Case Study of Perverse Incentives, Nonperformance Pay, and Camouflage Article in SSRN Electronic Journal 30(4).

By authorizing Fannie Mae to fill the positions of CEO and President with two separate individuals and transfer substantial responsibilities from the CEO and President to the President position, FHFA permitted Fannie Mae to compensate its President at a level more than five times greater than the statutory cap.

A dozen housing executives are about to take a massive Associated Press reported that the salaries of the top 70 employees at Fannie Mae. The chief executive of Freddie Mac is Charles "Ed" Haldeman, while Michael Williams is in charge at Fannie Mae.

Both were appointed in Representatives for both Fannie and Freddie declined to. ExEcutivE Summary A core component of Fannie Mae’s mission is to support the U.S.

multifamily housing market to help serve the nation’s rental housing needs, focusing on low- to middle-income households and communities.

For more than 25 years, Fannie Mae’s Multifamily Mortgage Business (Multifamily Business) has successfully and consistentlyFile Size: 3MB. According to Chris Isidore at CNNMoney, the top five executives at Fannie Mae received $ million in andwhile the top five at Freddie Mac received $ million.

And each company has Author: Steve Denning. executives at both Fannie Mae and Freddie Mac. This report Enterprise executive compensation were introduced. 2 In MarchFHFA-OIG issued a report Federal Housing Finance Agency Office of Inspector General • EVL • Decem 8.

Size: 2MB. Two former CEOs at mortgage giants Fannie Mae and Freddie Mac yesterday became the highest-profile individuals to be charged in connection with the financial : Derek Kravitz. Regulators have approved generous executive compensation at Fannie Mae and Freddie Mac, the taxpayer-backed mortgage finance giants, with little scrutiny, a report found.

The executives pointed out that compensation for their workers has fallen by about 40 percent from before Fannie and Freddie came under federal conservatorship, and. The SEC outlined that Fannie Mae and Freddie Mac CEOs' direct compensation will consist of an annual base salary of $, fixed deferred salary at an annual rate of $ million, and at-risk deferred salary with an annual target amount of $ million, totaling $4 million.

NEW YORK (CNNMoney) -- Federal regulators have taken a chainsaw to executive compensation at Fannie Mae and Freddie Mac. Going forward, the Federal Housing Finance Agency said Friday, the salaries. Timothy J. Mayopoulos (born March 7, ) is an American businessman and lawyer.

He was formerly president and chief executive officer (CEO) of Fannie Mae. Mayopoulos was announced as president and member of the board of directors at Blend in During his career, he was the General Counsel of Bank of America and also worked at Deutsche Bank, Alma mater: Cornell University, New York.

FHFA Inspector General criticisms of Fannie and Freddie executive compensation practices. “While taxpayers are saddled with billions in losses, executives at Fannie Mae and Freddie Mac are being rewarded with millions for their efforts to pursue public policy goals of the Obama administration,” said Chairman Issa.

Executive Compensation at Fannie Mae: A Case Study of Perverse Incentives, Nonperformance Pay, and Camouflage.

Summary ; In the end ofthe CEO and the CFO of Fannie Mai were asked to resign by the board of directors after the U.S. Securities and Exchange Commission had determined that Fannie Mae had inflated its earnings. The senior executives /5(1). David Maxwell– Retired chairman and chief executive officer, Federal National Mortgage Association (Fannie Mae) Nationality: American.

Born:in Philadelphia, Pennsylvania. Source for information on Maxwell, David –: International Directory of Business Biographies dictionary.

James A. Johnson (born Decem ) is a United States Democratic Party political figure, and the former CEO of Fannie was the campaign manager for Walter Mondale's failed presidential bid and chaired the vice presidential selection committee for the presidential campaign of John briefly led the vice-presidential selection process for the Alma mater: University of Minnesota.

InFannie Mae chose not to disclose the total value of the CEO and CFO retirement packages in its annual proxy statements. For more about WorldatWork research, visit us online. 7File Size: KB. A debate has erupted anew in Washington over whether Fannie Mae and Freddie Mac caused the credit crisis of and Their critics claim that these two Government Sponsored Enterprises (GSEs) deserve a lot of the blame because they encouraged mortgage lending to low-to-middle-income Americans, a goal that Congress required and Bill Clinton.

The chief executives of government-controlled mortgage-finance firms Fannie Mae and Freddie Mac will get multimillion-dollar paydays thanks to a massive raise approved by.

Nine executives at Fannie Mae and Freddie Mac are paid $2 million or more despite a $, congressional cap on the CEOs' salaries. Freddie Mac CEO Donald Layton and Fannie Mae CEO Tim Mayopoulos each earn a base salary of $, plus money added to their retirement plans, under a salary cap put in place by the Author: Jenn Gidman.

For any LenderLenderPerson approved by Fannie Mae to sell or service Mortgage Loans. any: a. senior executive officer serving as its president, chief executive officer, chief financial officer, chief operating officer, chief production officer, chief underwriter, chief asset manager, chief legal officer, or substantially equivalent position.

Yet from throughJohnson served as chief executive officer of Fannie Mae, the government-sponsored enterprise that some critics call “ground zero” in the subprime-mortgage explosion.

Together, Daniel H. Mudd of Fannie Mae and Richard F. Syron of Freddie Mac are eligible for as much as $24 million in severance, retirement benefits and deferred : Eric Dash.

Pdf Fannie Mae (Federal National Mortgage Association), its chief executive officer received $ million in total compensation in andthe report reveals.

The CEO is Michael J. Williams, who joined the company in   Fannie Mae CEO Timothy J. Mayopoulos, whose pay had been set at $, sincewas given a base salary of $, more than $2 million in deferred pay and performance-based awards of as. Fannie, Freddie Execs Get Ebook Bucks Despite Downturn Sure the past year was a tough one for the millions of Americans who lost jobs or faced foreclosure, but at least some people did well.

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