The Federal Housing Finance Agency said it has issued 64 subpoenas to "various entities" as part of an inquiry into private-label securities purchased by Fannie Mae and Freddie Mac with an eye toward the government recouping losses on nonprime assets.

Together, the two GSEs own at least $260 billion in PLS, but a spokeswoman for FHFA cautioned that the subpoenas "are not for all PLS."

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