Freddie Mac CEO Found Dead

Wednesday, April 22, 2009 - 6:15pm

The acting chief financial officer of mortgage giant Freddie Mac was found dead at his Vienna, Virginia home Wednesday morning in what police said was an apparent suicide.

David Kellermann reportedly hanged himself in the basement of his home.

Kellermann had been Freddie Mac's chief financial officer since September.

A crime scene crew and homicide detectives were investigating the death, but there didn't appear to be any sign of foul play, according to Mary Ann Jennings, director of public information for the Fairfax County Police Department.

Kellermann and his wife have a 5-year-old daughter.

"They were a very happy, happy couple," one neighbor said. "They had Christmas lights out before everybody. They had Valentine's out before everybody. They were happy-go-lucky, you know; the first ones on the block to be celebrating life."

Kellermann's death is the latest blow to Freddie Mac, 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 country, have been hobbled by skyrocketing loan defaults and have received about $60 billion in combined federal aid.