Freddie Mac receives additional $6.1B from government; company reportedly eyes new CEO

September 25th, 2009 Freddie Mac CFO to receive $5.5M pay packageWASHINGTON — Freddie Mac's new chief financial officer, lured from the banking industry this month, is receiving a pay package worth up to $5.5 million. The government-controlled mortgage finance company tapped Ross Kari for the position on Sept.

September 22nd, 2009 Freddie Mac names Ross Kari as new CFOMcLEAN, Va. — Freddie Mac said Tuesday it has named a new chief financial officer, filling a post that has been occupied on an interim basis for a year.

September 2nd, 2009 Industry group proposes replacing Fannie, FreddieWASHINGTON — A mortgage industry group wants Fannie Mae and Freddie Mac replaced with private companies that would be able to issue mortgage bonds formally backed by the federal government. The Mortgage Bankers Association's proposal, released Wednesday, offers a detailed plan for how to restructure the U.S.

August 8th, 2009 Freddie Mac's loss narrows, eschews federal aidWASHINGTON — Freddie Mac escaped the second fiscal quarter without asking the government for any new financial aid, but still expects to need more federal help in the future. The government-controlled mortgage finance company on Friday posted a quarterly loss of $374 million, or 11 cents a share, including $1.1 billion in dividends paid to the government.

August 7th, 2009 Freddie Mac avoids more gov't aidWASHINGTON — Freddie Mac escaped the second fiscal quarter without asking the government for any new financial aid, but still expects to need more federal help in the future. The government-controlled mortgage finance company posted a quarterly loss of $374 million, or 11 cents a share, including $1.1 billion in dividends paid to the government.

August 6th, 2009 FHFA names interim replacement for LockhartWASHINGTON — The federal agency that regulates Fannie Mae and Freddie Mac named Thursday an interim replacement for its director, who is stepping down at the end of the month. Edward DeMarco, chief operating officer of the Federal Housing Finance Agency is being picked as acting director, replacing James Lockhart, who confirmed his resignation.

July 23rd, 2009 Mortgage rates rise after falling for 3 weeksWASHINGTON — Rates for 30-year mortgages have edged up after falling for three-consecutive weeks. The average rate for a 30-year fixed mortgage this week was 5.2 percent, up from 5.14 percent a week earlier, mortgage company Freddie Mac said Thursday.

July 21st, 2009 Freddie Mac names new top executiveWASHINGTON — Charles "Ed" Haldeman Jr., a former mutual fund executive, will take the helm of Freddie Mac next month, the mortgage finance company said Tuesday. Three weeks ago, Haldeman, 60, stepped down as chairman of Boston-based Putnam Investments' mutual fund unit.

July 1st, 2009 Freddie Mac receives additional $6.1B from gov'tNEW YORK — Battered mortgage giant Freddie Mac received $6.1 billion in new funds from the Treasury Department to help offset its mounting liabilities, according to a regulatory filing submitted Wednesday. The Federal Housing Finance Agency, which has been operating Freddie Mac since last fall, requested the funds for Freddie Mac after the mortgage firm's liabilities exceeded its assets by more than $6 billion, according to the filing with the Securities and Exchange Commission.

May 8th, 2009 Fannie Mae seeks $19B in US aid after 1Q lossWASHINGTON — Fannie Mae issued a grave warning about its future on Friday, saying it needs $19 billion in additional government aid as job losses grow and risky loans made during the housing boom go bad at an unnerving pace. The mortgage finance company, which already got a $15 billion government bailout in March, warned it may need even more money and won't be profitable for the foreseeable future.

May 1st, 2009 Freddie Mac pays $700K to former exec's survivorsWASHINGTON — Freddie Mac is paying out more than $700,000 to the family of David Kellermann, the mortgage finance company's former acting chief financial officer who died last week in an apparent suicide, the company disclosed Thursday. The McLean, Va.-based company said in a Securities and Exchange Commission filing that Kellermann's survivors are due to receive $703,400 in retention and stock awards.

April 30th, 2009 Rates on 30-year mortgages tie record lowWASHINGTON — Rates on 30-year mortgages tied a record low this week, spurring refinancing activity as the troubled housing market moves closer to possibly hitting the bottom, Freddie Mac said Thursday. Average rates on 30-year fixed mortgages, the most popular loan among home buyers, slid to 4.78 percent from 4.8 percent last week, Freddie Mac said.

April 30th, 2009 Regulators didn't challenge Freddie's accountingWASHINGTON — An outside investigator early last year told regulators that Freddie Mac failed to properly document interest rate bets, but the government didn't challenge the mortgage finance company's accounting practices. The Federal Housing Finance Agency confirmed that it did not request a change in accounting practices after receiving the report from investigator Kroll Inc.

April 24th, 2009 Former Freddie Mac CEO returning as consultantWASHINGTON — Mortgage finance company Freddie Mac, coping with the apparent suicide of its acting chief financial officer, said Friday that its former chief executive is coming back temporarily to help oversee the company's finances. David Moffett, the former government-appointed CEO who resigned from Freddie Mac in March, will return as a consultant to the company's interim CEO John Koskinen, aiding him with producing financial statements.

April 23rd, 2009 AP Source: Freddie Mac CFO told to take time offVIENNA, Va. — Freddie Mac's acting chief financial officer had met with the mortgage giant's human resources office and had been making plans to take time off only a day before authorities found him dead in an apparent suicide, a person close to the company said Thursday.