Freddie Mac CFO Found Dead of Apparent Suicide

April 22, 2009

Daily Mortgage Updates

A&N Mortgage Logo22 April 2009 – The CFO of Freddie Mac was found dead in an apparent suicide. Of course, any death is a tragedy, but this is certainly a sign of the times.

Treasury Secretary Timothy Geithner said Tuesday he believes most banks are liquid enough to survive the current hardships facing them. The Obama administration has ?stress-tested? troubled banks, and plans on releasing the results May 4. This is uncharted territory, because the government has been doing stress tests for a while, and has maintained a ?watch list? for troubled banks, but has not previously released its findings.

It looks like the car companies are going to get some money after all, but not what they were looking for. For those that haven’t been following the story, GM and Chrysler came back with their hands out after the first round of bailout money, but the government said no because they hadn?t completed the milestones the government wanted to see. GM went back, and was apparently preparing to file bankruptcy. Now the money is coming: about $5B for GM and $500 M for Chrysler, so it appears the Obama administration may have been bluffing.

While the federal government has been working feverishly to try to fix our embattled economy, pouring billions of dollars in, they are trying to save money and increase capital in the Post Office. They are raising first-class postage to .44 on May 11, and are having a ?postage sale? on bulk post cards?a first for our postal service. There are also rumors of cutting postal carriers to a 5-day workweek, which would save on wage expenditures.

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About Neena Vlamis

Neena Vlamis, President and Co-founder of A & N Mortgage Services, enjoys a challenge. In particular, she and colleagues specialize in finding the best mortgage product for each of their home-buying customers. Whereas many financial institutions shy away from customers who have special financial needs, Neena and A & N boast a winning record with clients from all ends of the spectrum. Neena and the professionals at A and N succeed in home-financing scenarios as a result of their unparalleled commitment to providing honest advice, extensive breadth of personal finance knowledge vis-a-vis home ownership, and their power of being a mortgage bank and broker. These assets, in combination, have built A & N Mortgage Services into the premier originator of residential home loans in the Chicagoland area. Neena Vlamis and A and N Mortgage will identify the optimal financial product and strategy for your specific homeownership need. You can contact her at neenav@aandnmortgage.com or 773-305-LOAN.

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  1. Mortgage rates are holding steady today, after going up late last week | The Chicago 77 - May 26, 2009

    […] ?out of trouble.? Freddie is CEO-less, after having had a couple within a few years, and the CFO died of an apparent suicide not too long ago. Both agencies have been living on federally funded life support, but I don?t […]