Mortgage finance giants Fannie Mae and Freddie Mac plan to pay more than $US210million ($A294million) in bonuses through next year to give workers the incentive to stay in their jobs at the government-controlled companies.
The retention awards for more than 7600 employees were disclosed in a letter issued on Friday from the companies' regulator.
The companies paid out nearly $71.5million last year, are scheduled to make $204.7million in payments this year and $18.2million in 2010.
Fannie and Freddie declined to comment on Friday. Fannie had disclosed that it plans to pay four top executives at least $1.4million each in retention payments that run through February. Freddie has yet to report on which executives are in line for the payments.
The two companies, hobbled by skyrocketing loan defaults, were seized by regulators last September and operate under close federal oversight with new chief executives installed by the Government. AP
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