Official says NY probe seeks mortgage records

ALBANY, N.Y. (AP) — An official familiar with the issue says New York Attorney General Eric Schneiderman is seeking records from three major Wall Street banks as part of a broad investigation into the mortgage crisis that fueled the recession.

The official says Schneiderman is meeting with representatives of the Bank of America, Morgan Stanley and Goldman Sachs. Those meetings are expected to focus on mortgage securities operations during the boom on Wall Street that ultimately cost banks billions of dollars.

The official said securitization of those mortgages would be an area Schneiderman will examine. The securitization of mortgages could have concealed risky loans, which critics on Wall Street said was at the center of the mortgage crisis.

The official spoke on the condition of anonymity because of the sensitivity of the continuing investigation.

There was no immediate response to calls and an email to Schneiderman’s office.