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Seeking Alpha (Free subscription) | 03/10/2008
Tom Armistead submits: Yesterday MBIA (MBI) sued Countrywide, now part of Bank of America (BAC), alleging fraud, misrepresentation and breach of contract in connection with over 14 billion worth of MBS-containing Countrywide mortgages and insured by MBIA. MBIA has already incurred $459 million in losses. This is the beginning of what may be a long battle by the bond insurers MBIA and Ambac (ABK) to...
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Business Wire (Free subscription) | 02/10/2008
NEW YORK--(BUSINESS WIRE)--Following a review of two prepaid natural gas projects where MBIA acts a surety bond provider for the projects' participants, Fitch has taken the following rating
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Financial Time (Free subscription) | 02/10/2008
MBIA Insurance is suing Countrywide Financial, alleging that the mortgage lender fraudulently induced MBIA to guarantee billions of dollars of Countrywide mortgage bonds that have cost the embattled bond insurer more than $459m
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EuroInvestor.co.uk (Free subscription) | 01/10/2008
MBIA Inc. (NYSE: MBI) today announced the closing of the previously announced reinsurance transaction between its insurance subsidiary, MBIA Insurance Corporation (MBIA) and Financial .. - Read more
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EuroInvestor.co.uk (Free subscription) | 01/10/2008
FGIC Corporation, the parent company of Financial Guaranty Insurance Company (FGIC), today announced that FGIC has closed the previously announced reinsurance transaction with MBIA Ins.. - Read more
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Business Wire (Free subscription) | 29/09/2008
CHICAGO--(BUSINESS WIRE)--Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting
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The Industry Standard (Free subscription) | 25/09/2008
Shares of some top insurers companies are up at 10 a.m.: American Internation rose $.57 or 17.2 percent, to $3.88. MBIA rose $.80 or 6.5 percent, to $13.15. MGIC Investments rose $.66 or 8.4 percent, to $8.50. XL Capital rose $.67 or 3.9 percent, to $17.92.
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Seeking Alpha (Free subscription) | 22/09/2008
Tom Armistead submits: Moody's recently announced that it is placing the ratings of Ambac (ABK) and MBIA (MBI) on review for possible downgrade. I was disappointed but hardly surprised, given Moody's history of constantly moving the goalposts. This article provides a brief critique of Moody's action and the rationale behind it, followed by a discussion of the probable and possible extent of the economic...
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The Earth Times Online Newspaper (Free subscription) | 22/09/2008
NEW YORK (Reuters) - Bond insurer MBIA said on Monday it would have enough resources to fund potential termination payments related to investment contracts if rating agencies downgraded the notes of its subsidiary MBIA Insurance Corp.
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The Earth Times Online Newspaper (Free subscription) | 22/09/2008
Corrects fourth paragraph to clarify potential termination payments.
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Business Week (Free subscription) | 22/09/2008
MBIA Inc. () confirms that as a result of a portfolio rebalancing within its Asset/Liability Management (ALM) portfolio undertaken during the second and third quarters, MBI has sufficient cash, government securities in its ALM portfolio to fund potential termination payments under its insured Guaranteed Investment Contracts (GICs) in the event of any ratings downgrade of MBIA Insurance Corp. by Moody's...
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The Earth Times Online Newspaper (Free subscription) | 22/09/2008
NEW YORK (Reuters) - Bond insurer MBIA said on Monday it would have enough resources to fund potential termination payments related to investment contracts if rating agencies downgraded the notes of its subsidiary MBIA Insurance Corp.
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Reuters (Free subscription) | 22/09/2008
NEW YORK (Reuters) - Bond insurer MBIA said on Monday it would have enough resources to fund potential termination payments related to investment contracts if rating agencies downgraded the notes of its subsidiary MBIA Insurance Corp.
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Law Blog - WSJ.com (Free subscription) | 22/09/2008
MBIA Inc. reiterated that it has sufficient cash and government securities in its asset/liability management portfolio to fund potential termination payments in the event of any ratings downgrade.
