According to a statement produced by the Inspector General of the Federal Housing Finance Agency, it was found that the higher officials of bailed-out mortgage finance giants Fannie Mae and Freddie Mac were paid huge salaries without any written procedures of analysis.

According to the statistical report, the higher officials of these two giants were paid a total of $17.1 million in the year 2009 – 2010.

It was also found that the top six executives got a whopping $35.4 million over these two years. This report has been posted on the official website.

The Inspector General said that FHFA has not undergone any written procedures or analysis to evaluate their salaries for every year.

"FHFA also does not provide sufficient transparency to the public of the Enterprises' executive compensation program", the Office of Inspector General said in the evaluation report.

This report recommends FHFA to start the analysis procedure for reviewing the correct amount of the salary. These firms have got direct taxpayer aid of more than $130 billion since 2008 and it might go up to $169 billion in the upcoming years.

However, these two giants were not available for comments outside their business hours when tried by Reuters.