The two REITs have seen success even as profits from mortgage lending decline thanks to diversification efforts involving business-purpose lending and venture capital investments.
It stands to reason that as origination activity declines, some CEOs might earn less money this year than last. But a few are sharing the pain by taking a salary of $1 a year.
While the Federal Reserve intervened in the mortgage market to lower rates, lenders did not pass along all the savings to homebuyers, the former Freddie chief said.