CFO Freddie Mac Exec. Found Dead, Suicide Suspected.

April 22, 2009 8:31 AM

The 41-year-old David Kellermann, Freddie Mac's chief financial officer since September, was found dead at his home Wednesday in an apparent suicide.

(AP) - 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.

Mary Ann Jennings, director of public information for the Fairfax County, Va., Police Department, said Mr. Kellermann was found dead in his Reston, Va., home. The 41-year-old Mr. Kellermann has been Freddie Mac's chief financial officer since September.

Ms. Jennings said that a crime scene crew and homicide detectives were investigating the death, but that there didn't appear to be any sign of foul play.

McLean-based Freddie Mac has been criticized heavily for reckless business practices that some argue contributed to the housing and financial crisis. Freddie Mac is a government-controlled company that owns or guarantees about 13 million home loans. Chief Executive 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 country, have been hobbled by skyrocketing loan defaults and have received about $60 billion in combined federal aid.

Mr. 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, Mr. Kellerman served as senior vice president, corporate controller and principal accounting officer. He was with Freddie Mac for more than 16 years.

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