MBA submitted recommendations to the Federal Housing Finance Agency in response to its request for input on executive compensation policies at Fannie Mae and Freddie Mac as well as the Federal Home Loan Banks. The letter emphasizes the need to strike the appropriate balance between the GSEs (1) offering a level of compensation that will attract and retain talented executives with industry expertise; and (2) implementing a compensation structure with incentives that encourage prudent risk management and financial stewardship. The GSEs should also be permitted to offer attractive compensation packages that are competitive with similar private sector entities. This includes being required to structure the compensation in a manner that is aligned with the GSEs' public interest goals: safe and sound operations and a continued focus on affordable housing duties and missions.