FHFA Provides Strategic Plan Implementation Scorecard, Announces Executive Compensation Reductions

Freddie Mac Fannie Mae

On March 9, the Federal Housing Finance Agency (FHFA) released a “scorecard” that details the implementation of its recently released strategic plan for Freddie Mac and Fannie Mae. The scorecard provides specific measures Fannie and Freddie will take in executing the strategic plan. It also identifies timetables for implementation of each objective. Contemporaneously, the FHFA released details of its 2012 compensation program for Fannie Mae and Freddie Mac executives. The program reduces total direct compensation by ten percent and eliminates bonuses. The program also sets $500,000 as the target annual salary for new CEOs.