Industry News

Fannie Mae exec salaries, bonuses set

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Daniel H. Mudd, chief executive of Fannie Mae, isn't getting a raise this year, but he is getting a bonus, the company reported Wednesday. President and CEO Daniel Mudd will continue to get his base salary of $950,000 in 2006 and he was granted a cash bonus of $2.59 million for his 2005 performance, Fannie Mae said. Mudd was also awarded an estimated $8 million in restricted stock as a "2005 Variable Long-Term Incentive Award," according to the filing with the U.S. Securities and Exchange Commission. The government-sponsored enterprise's top five executives were granted a total of more than $28 million in 2006 salaries and regulator-approved 2005 cash and stock bonuses, according to the regulatory filing. Fannie Mae's main regulator, the Office of Federal Housing Enterprise Oversight, approved all of the non-salary compensation decisions as required as part of the company's capital restoration plan, the filing said. Other executives granted multimillion-dollar 2006 salary and 2005 cas...