Hunter was eventually replaced by David O. Maxwell as Fannie Mae's chairman and president in 1981. After Maxwell left a $7.56 million yearly salary with Fannie Mae and retired with a $19.6 million pension, Hunter said, "Executive compensation at Fannie Mae has run amok."
Hunter was eventually replaced by David O. Maxwell as the head of Fannie Mae in 1981. Upon Maxwell's departure, he received a $7.56 million annual salary and a $19.6 million pension, which led Hunter to express his concern that executive compensation at Fannie Mae had spiraled out of control.