Freddie Mac CFO Found Dead

Freddie Mac’s acting CFO, David Kellermann, was found dead in his home this morning in what police are calling an apparent suicide. They responded to a 911 call around 5:00 this morning and found Kellermann in the Fairfax County home he shared with his wife and one daughter.

David Kellermann, Image: Newscom

Kellermann was a University of Michigan graduate and attended George Washington University for business school. He worked for Freddie Mac for 16 years before being named CFO last September. Authorities say that Kellermann was not a target of the federal investigation, though friends say that he was under an extreme amount of pressure.

Police haven’t released an official cause of death and won’t say whether or not there was a suicide note. Freddie Mac executives have issued statements expressing their sympathies to the Kellermann family.

Freddie Mac has been dealing with problems for years now. They’ve been criticized for financing mortgages that they knew were risky, creating a real estate bubble. The goverment seized control last year and has given them $45 billion to stay afloat, but Freddie Mac reportedly lost over $50 billion last year alone.

Appointed CEO David Moffet stepped down last month after a mere six months on the job. Both this company and sister company Fannie Mae have recently been under fire from the public for reporting that they’d be payng out large bonuses to employees, even amid financial problems.