David Kellermann, Freddie Mac’s acting CFO, was found dead Wednesday morning of an apparent suicide. Kellermann, 41, became the chief financial officer of Freddie Mac in September of 2008. Kellermann’s wife found the body downstairs in their Virginia home, and reported the incident to local police around 5 a.m. this morning. Kellermann had been with Freddie Mac for 16 years, serving as an accounting officer, controller, and senior vice president.
Freddie Mac is the brother of mortgage giant Fannie Mae. Both companies are now primarily controlled by the US government, after receiving billions in capital injections in order to keep them from collapsing. Both companies have been heavily scrutinized recently over their business practices, and some argue that Fannie and Freddie are the sole cause of the housing market crash. Together, Fannie Mae and Freddie Mac own more than half of the country’s mortgages.
Recently Fannie Mae and Freddie Mac have stepped up their efforts to help resolve the housing crisis, by introducing new programs like DU Refi Plus, and the Relief Refinance Mortgage program. They are committed to helping homeowners refinance into better terms, lowers rates, and ultimately avoid foreclosure altogether.
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WillG
April 22, 2009 @ 3:02 pm
Although I have been a serious critic of Freddie Mac, Kellermann’s death highlights the value of human life. Nobody, no matter how much pressure they are under, should feel like their only option is suicide. His death is a real loss for his family and friends. I read a great article about this called, “The Value of Human Life” found at http://economicefficiency.blogspot.com/2009/04/value-of-human-life.html Its the only story I have seen with this take on the topic.
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Nomad
May 4, 2009 @ 4:42 am
it sounds like Kellermann had a misguided sense of guilt about the whole Freddie Mac fiasco since he came into his position after the company was already well on the way to financial meltdown
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wow gold
July 2, 2009 @ 10:11 pm
Excellent tips .I really appreciate all these points, and I agree completely…
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