Freddie Mac CFO Dead: Apparent Suicide

The finances of mortgage giant Freddie Mac may come under more scrutiny after the apparent suicide of acting Chief Financial Officer David Kellerman, who police found dead in his northern Virginia early Wednesday morning.

Local police reported no signs of foul play in the death of the 41-year-old CFO. Officers were called to Kellerman's home in the Washington suburb of Vienna before 5 a.m. and the death may have been an apparent suicide, a police spokesperson told CNN.

Kellermann had worked at Freddie Mac for more than 16 years, and was named CFO and senior vice president last September. His responsibilities included overseeing financial reporting, compliance with tax requirements and regulations and annual budgeting and financial planning.

Kellermann previously was corporate controller and principal accounting officer.

Congress created Freddie Mac in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac provides mortgage capital to lenders and is one of the largest underwriters of mortgages in the country.

The government took over Freddie Mac last year, as the nationwide subprime-loan crisis escalated. In September, Freddie Mac and Fannie Mae were placed under conservatorship by its regulator, the Federal Housing Finance Agency.

Both companies back mortgages held by private homeowners, and have received massive cash infusions from the government to keep them afloat.

Former Freddie Mac CEO David Moffett, resigned in March and was replaced this month by Michael Williams, who had remained with the mortgage finance giant after the government takeover.


About the Author

Linda McGlasson

Linda McGlasson

Managing Editor

Linda McGlasson is a seasoned writer and editor with 20 years of experience in writing for corporations, business publications and newspapers. She has worked in the Financial Services industry for more than 12 years. Most recently Linda headed information security awareness and training and the Computer Incident Response Team for Securities Industry Automation Corporation (SIAC), a subsidiary of the NYSE Group (NYX). As part of her role she developed infosec policy, developed new awareness testing and led the company's incident response team. In the last two years she's been involved with the Financial Services Information Sharing Analysis Center (FS-ISAC), editing its quarterly member newsletter and identifying speakers for member meetings.




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