JPM One of Many Broker Deals that Got FHFA Subpoena

JPMorgan Chase CEO Jamie Dimon said his company was one of "many" broker/dealers that received a subpoena from the Federal Housing Finance Agency which recently launched an  inquiry into private label securities purchased by Fannie Mae and Freddie Mac. Speaking during the company's second quarter conference call Thursday morning, Dimon provided no further details but seemed unconcerned about the matter. FHFA launched the probe as a way to potentially recoup losses on nonprime assets purchased by the GSEs. Fannie and Freddie currently own $260 billion in private label MBS.