Cuomo Subpoenas Street Firms on Underwriting

As part of an ever-expanding probe into the mortgage crisis, New York Attorney General Andrew Cuomo has subpoenaed loan underwriting records from a handful of Wall Street firms, according to industry sources.Wednesday morning The Wall Street Journal identified three firms that reportedly received subpoenas: Bear Stearns, Deutsche Bank, and Merrill Lynch. The AG's office has already subpoenaed records from contract underwriting firms, including The Bohan Group, San Francisco, and Clayton Holdings, Shelton, Conn. One executive close to the matter told MortgageWire that "The Street is trying to blame the contractors they used." At deadline time, a spokesman for the AG's office had not commented. Bear Stearns, Deutsche Bank, and Merrill Lynch had not released any statements on the matter.