House Republican chairman invites DeMarco to testify

Meanwhile, in the Senate support is gradually increasing for an amendment introduced Monday that would prevent the $12.9 million in bonuses to be awarded to top executives at Fannie Mae and Freddie Mac. 

"Awarding millions of dollars to officials who share responsibility for billions in financial losses is an offensive misuse of hard-earned tax dollars," said Sen. Mike JohannsMichael (Mike) Owen JohannsFarmers, tax incentives can ease the pain of a smaller farm bill Lobbying World To buy a Swiss company, ChemChina must pass through Washington MORE (R-Neb.) on Tuesday. 

Along with Johanns, the amendment was introduced by Sens. John McCainJohn Sidney McCainMcCain rips Trump for attacks on press NSA spying program overcomes key Senate hurdle Meghan McCain says her father regrets opposition to MLK Day MORE (R-Ariz.), Jay RockefellerJohn (Jay) Davison RockefellerOvernight Tech: Trump nominates Dem to FCC | Facebook pulls suspected baseball gunman's pages | Uber board member resigns after sexist comment Trump nominates former FCC Dem for another term Obama to preserve torture report in presidential papers MORE (D-W.Va.), John BarrassoJohn Anthony BarrassoTrump’s infrastructure plan may slip to next month Overnight Finance: Trump, lawmakers take key step to immigration deal | Trump urges Congress to bring back earmarks | Tax law poised to create windfall for states | Trump to attend Davos | Dimon walks back bitcoin criticism Trump's infrastructure team to huddle with senators MORE (R-Wyo.), Mike EnziMichael (Mike) Bradley EnziGOP is addressing tax cuts and a pension bill that could help coal miners Overnight Finance: Congress sends Trump funding bill to avert shutdown | WH sees 'tentative' deal on defense spending | GOP discovers corporate tax snag | Consumer bureau fight heats up | Apple could see B windfall from tax bill Overnight Finance: Congress sends Trump bill to avert shutdown | GOP discovers corporate tax snag | CFPB leadership battle rages MORE (R-Wyo.) and Lisa MurkowskiLisa Ann MurkowskiSessions torched by lawmakers for marijuana move Calif. Republican attacks Sessions over marijuana policy Trump's executive order on minerals will boost national defense MORE (R-Alaska).

A recent bipartisan letter sent Nov. 4 and signed by 60 senators asks the FHFA to revise the compensation packages approved for 10 executives at the two companies.

The letter calls the bonuses “wildly imprudent” and urges the housing finance agency to make “changes to the executive compensation policy to more accurately reflect the mission of the agency and the fiscal reality facing the GSEs and the federal government.” 

The letter, spearheaded by Sens. Mark BegichMark Peter BegichPerez creates advisory team for DNC transition The future of the Arctic 2016’s battle for the Senate: A shifting map MORE (D-Alaska) and John ThuneJohn Randolph ThuneWeek ahead: Tech giants to testify on extremist content Overnight Tech: GOP senator presses Apple over phone slowdowns | YouTube cancels projects with Logan Paul after suicide video | CEOs push for DACA fix | Bill would punish credit agencies for breaches GOP senator presses Apple on phone slowdowns MORE (R-S.D.), also went out to Treasury Secretary Timothy Geithner because of the role the department plays in overseeing taxpayer dollars used to keep the government-sponsored mortgage giants solvent. 

Earlier on Tuesday the panel's ranking member, Rep. Elijah Cummings (D-Md.), sent a letter to Issa asking him to invite DeMarco to appear at the hearing. 

Issa has invited Charles Haldeman Jr. and Michael Williams, the chief executives of Freddie Mac and Fannie Mae, respectively, to the hearing.

“In order to properly examine these compensation packages,” Cummings wrote, “the committee should hear from the official who approved them, Mr. DeMarco.”

Senate Banking, Housing and Urban Affairs Committee Chairman Tim JohnsonTimothy (Tim) Peter JohnsonCourt ruling could be game changer for Dems in Nevada Bank lobbyists counting down to Shelby’s exit Former GOP senator endorses Clinton after Orlando shooting MORE (D-S.D.) said last week that he will hold a hearing on the bonuses and wants DeMarco to testify. 

The FHFA reportedly approved $12.79 million in bonus pay for 10 Fannie Mae and Freddie Mac executives last year. 

A report from the FHFA’s inspector general found that the housing agency “lacks the controls to monitor and evaluate Fannie and Freddie’s executive compensation decisions and fails to make them transparent to the public.”

DeMarco has been on the hot seat for most of this year as lawmakers, especially House Democrats, apply pressure on the agency to overhaul programs to improve the sluggish housing sector. 

In addition, Cummings also requested that Issa ask the FHFA to produce all copies of all compensation packages for the top executives at Fannie Mae and Freddie Mac by Nov. 14. 

“Without testimony from the head of the agency responsible for approving executive compensation at Fannie Mae and Freddie Mac, and without copies of the compensation packages we are supposed to review at the hearing, the committee’s oversight efforts will be inadequate and incomplete,” Cummings wrote.