WASHINGTON – David Kellermann, the acting chief financial officer of mortgage giant Freddie Mac, was found dead at his home Wednesday morning in what police said was an apparent suicide.
The 41-year-old Kellermann had been Freddie Mac’s chief financial officer since September.
Freddie Mac has been criticised heavily for reckless business practices that some argue contributed to the housing and financial crisis. Freddic Mac is a government-controlled company that owns or guarantees about 13 million home loans. CEO David Moffett resigned last month.
Freddie Mac and sibling company Fannie Mae, which together own or back more than half of the home mortgages in the United States, have been hobbled by skyrocketing loan defaults and have received about US$60 billion in combined federal aid.
Kellermann was named acting chief financial officer in September 2008, after the resignation of Anthony ‘Buddy’ Piszel, who stepped down after the September 2008 government takeover. The chief financial officer is responsible for the company’s financial controls, financial reporting and oversight of the company’s budget and financial planning.
Before taking that job, Kellerman served as senior vice president, corporate controller and principal accounting officer. He was with Freddie Mac for more than 16 years.
– Nampa-AP
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