Freddie Mac acting CFO found dead

UPDATED:

The acting chief financial officer of Freddie Mac, David Kellermann, has apparently committed suicide.

Mr. Kellermann, 41, was found dead in his Northern Virginia home Wednesday morning, said Fairfax County Police Department spokeswoman Lucy Caldwell.

Mrs. Caldwell said police responded to a call at 4:48 a.m. from the Kellermann home — in the 1700 block of Raleigh Hill Road, in Vienna, Va. They arrived to find a dead body and “do not suspect foul play,” she also said.

Mr. Kellermann was named acting chief financial officer in September 2008, after the federal government seized control of Freddie Mac and sister company Fannie Mae, forcing out top executives.

The government-backed mortgage giants were overwhelmed by billions in losses as a result of risky lending practices and received roughly $60 billion in the federal bailout. They remain under the control of the Federal Housing Finance Agency.

Freddie Mac was established by Congress in 1970 to providing mortgage capital to lenders. Fannie Mae was established as a federal agency in 1938 and in 1968 was chartered by Congress as a private shareholder-owned company.

Mr. Kellermann had been with Freddie Mac for 16 years. Before becoming CFO, Mr. Kellermann served as senior vice president, corporate controller and principal accounting officer.

He received a master’s degree in finance from George Washington University and earned a bachelor’s degree in political science and accounting from the University of Michigan. Mr. Kellermann was a volunteer board member of the D.C. Coalition for the Homeless, according to Freddie Mac.

The McLean, Va.-based company’s interim chief executive officer is John A. Koskinen. He replaces David Moffett, who resigned in March after six months on the job.

“The Freddie Mac family is truly saddened by the news this morning of David Kellermann’s death,” Mr. Koskinen said. “We extend our deepest condolences to David’s family and loved ones for this terrible personal tragedy. David was a man of great talents. … His extraordinary work ethic and integrity inspired all who worked with him. But he will be most remembered for his affability, his personal warmth, his sense of humor and his quick wit. David was a friend to many in the Freddie Mac family, and we mourn his passing.”