Telling a group of workers that they get no more money in any manner, particularly if they came on to help fix things after a company’s problems surfaced, is often a challenging task. Apparently that is what is happening at Fannie Mae and Freddie Mac.
No one in the public will care. In fact, most will likely cheer. The Federal Housing Finance Agency is instructing for a second year (according to Bloomberg) of no increase in wages nor in cost of living adjustments at the agency.
As we have noted before, Fannie Mae and Freddie Mac may have taxpayers on the hook for over $150 billion and may be a black hole in the trillions ultimately. Just remember that if you are a homeowner with a conforming mortgage, you have a cheaper mortgage because of them. Still, the banks mostly paid Uncle Sam and the taxpayer back… The answer for Fannie Mae and Freddie Mac has not yet surfaced.
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