Fannie Mae and Freddie Mac disclosed they have received grand-jury subpoenas from federal prosecutors seeking information on the companies' accounting, disclosures and corporate-governance matters. Federal prosecutors from U.S. Attorney for New York's southern district delivered the subpoenas Friday, the two companies said in corporate filings. The companies are already the subject of investigations by the Securities and Exchange Commission.
The two companies have been in the conservatorship of their regulator, the Federal Housing Finance Agency, since the government seized the giants of the mortgage industry. The government intervention has raised pressure on the Bush administration to hold accountable the companies and top executives who oversaw the companies during their years of growth.