Freddie Mac Acting CFO Found Dead In Apparent Suicide
Posted April 22, 2009 12:00 pm.
This article is more than 5 years old.
Mortgage giant Freddie Mac’s acting chief financial officer has been found dead in an apparent suicide.
David Kellermann, a 16-year veteran with the company, took the CFO job last fall after the resignation of Anthony Piszel, who stepped down in the wake of a U.S. government takeover.
A police spokesperson said Kellermann, 41, was discovered Wednesday in his Reston, Va. home. There were no clear signs of foul play.
Freddie Mac has been slammed for its business practices, which some argue contributed to the U.S. housing and financial crisis. The government-controlled company owns or guarantees about 13 million home loans.
The company’s CEO, David Moffett, resigned last month.
Freddie Mac and sister company Fannie May together back more than half of home mortgages in the U.S., but have suffered from massive loan defaults in recent months. In all the companies have received about US$60 billion in aid from the federal government.
Before taking the job as acting CFO, Kellermann had served as senior vice president, corporate controller, and principal accounting officer.
An advertisement for mortgage broker Freddie Mac is seen at the 2008 Mortgage Banker’s Association Conference and Expo October 20, 2008 in San Francisco, California. (Photo by Justin Sullivan/Getty Images)
