The board of Fannie Mae is withholding $44 million in executive bonuses that were slated to benefit 46 former and current Fannie Mae employees.The company’s decision was based on a review by Fannie Mae’s Board, which concluded that executives serving between the years 2001 and 2004 did not meet the prescribed performance standards to qualify for their Performance Share Plan (PSP) bonuses. In a press released issued Monday, the Office of Federal Housing Enterprise Oversight) said it agrees with the Board’s decision and will continue to closely monitor Fannie Mae’s ongoing remediation efforts. In a Consent Order that OFHEO signed with Fannie Mae in 2006, OFHEO encouraged the GSE to review all executive bonuses for current and past employees.