First Horizon (FHN -5.7%) is subpoenaed by the conservator for two investors in securitizations...

|About: First Horizon National Corp... (FHN)|By:, SA News Editor

First Horizon (FHN -5.7%) is subpoenaed by the conservator for two investors in securitizations backed by Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB), according to an SEC filing. The bank also says it may be unable to determine probable loss, and that no reserve was established. Zero Hedge thinks this could be "fraudclosure's first victim."