JPMorgan Chase CEO Jamie Dimon said his company was one of "many" broker/dealers that received a subpoena from the Federal Housing Finance Agency (FHFA).
The regulator 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.
Meanwhile, in other news about the firm. JPMorgan said in an earnings conference call Thursday morning that it posted strong gains in mortgage earnings, although some concerns remain.
JPMorgan saw its mortgage banking related income spike by almost 200% in the second quarter to $364 million but is forecasting delinquency related losses of at least $1.8 billion for the next few quarters.
In the call, company chairman and Dimon cautioned about continued uncertainty in the residential space, adding that he thinks home prices will fall "a little more" but also said that "we don't think anyone knows where home prices are going to be."
Company officials also cited loan repurchases from the GSEs as a continuing worry, noting that buybacks will be a drag on mortgage-related earnings. In the second quarter, JPMorgan charged off $1.3 billion of residential loans, 40% less than in the same period a year ago.
In regard to nonperforming loans it controls, prime mortgages accounted for the most of any category ($4.59 billion compared to $3.4 billion a year ago), followed by subprime ($3.1 billion compared to $2.7 billion a year ago), and home equity loans ($1.2 billion compared to $1.5 billion a year ago).
The company had total mortgage revenue of $2.05 billion in 2Q compared to $1.9 billion in 2Q09.
As a company, all of JPMorgan earned $4.8 billion, a 77% jump from the same period last year.