FHFA probes subprime, Alt-A lending

Regulator seeking loan applications, appraisals

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Federal regulators overseeing Fannie Mae and Freddie Mac said today they will seek to recoup losses from companies that securitized "private-label" subprime and Alt-A mortgage-backed securities in cases where they discover misrepresentations and breaches of warranty.

The Federal Housing Finance Agency said it has issued 64 subpoenas from unnamed companies to obtain loan documents that would shed light on whether such misrepresentations were made.