AP – The head of the government agency that packages federally backed mortgages into investments is stepping down for a new job, people familiar with his plans said.

Joseph Murin, president of the Government National Mortgage Association, known as Ginnie Mae, is leaving his job this week after 13 months. The people declined to be identified because his departure was not yet official, and would not say where Murin is going to work next.

Ginnie Mae sold more than $200 billion in mortgage securities in the first six months of 2009, double last year’s level.

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Tags: ginnie mae, government national mortgage, government national mortgage association, government-agency, investments, mortgage securities, mortgages, murin, national mortgage association, new job, six months

AP – The Chief financial officer of Freddie Mac, one of the mortgage giants at the heart of the nation’s financial meltdown, was found dead in his basement early Wednesday morning in what police said was an apparent suicide.

David Kellermann, 41, apparently hanged himself in his suburban Washington home, said a law enforcement official familiar with the investigation. He asked not to be identified because the investigation was ongoing.

Kellermann was promoted last September when the government seized the mortgage company and ousted its top two executives. Neighbors said Kellermann had lost a noticeable amount of weight under the strain of the new job. Some neighbors said they suggested to Kellermann should quit to avoid the stress, but Kellermann responded that he wanted to help the company through its problems. The neighbors did not want to be quoted by name because they didn’t want to upset the family.

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Tags: apparent suicide, chief-financial-officer, financial meltdown, freddie-mac, giants, heart, kellermann, last-september, law enforcement official, mortgage company, neighbors, new job, stress, suburban washington, wednesday morning