The House of Representatives Financial Services Committee on Tuesday approved a bill that would crack down on the pay packages for executives at mortgage giants Fannie Mae and Freddie Mac .

The bill would suspend 2011 compensation packages for executives at the two companies, which were taken over by the government in 2008, and instead have them paid based on a government pay scale.

(Reporting by Dave Clarke; Editing by Chizu Nomiyama)

Fannie mae House of Representatives Mortgage Mortgage