Pay for the top 15 executives at Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB) will be cut by...

|About: Fannie Mae (FNMA)|By:, SA News Editor

Pay for the top 15 executives at Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB) will be cut by 24% this year, led by plans to slash the total annual compensation for new CEOs of the housing finance giants from $6M to $500K, federal regulators say. But the huge CEO pay cuts won't be applied to the current holders of those jobs.