MBIA, Inc.

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MBIA, Inc.

A private corporation that guarantees principal and interest payments on debt securities and some asset-backed securities. Founded in 1974 upon the merger of several casualty insurance companies, MBIA originally specialized in guaranteeing municipal bonds. It has since expanded to other investment vehicles such as corporate bonds and mortgage-backed securities. Clients are issuers who pay a fee to MBIA in exchange for the insurance. MBIA insurance typically guarantees the highest possible credit rating and lowers the overall cost of the issue.

MBIA, Inc.

A private corporation that provides financial guarantees and investment management products and services. MBIA was formed as a consortium of five casualty insurance companies in 1974 to guarantee principal and interest payments on municipal debt. It has since expanded its scope to guarantee structured asset-backed and mortgage-backed transactions, corporate bonds, and obligations of financial institutions. Borrowers pay MBIA a fee and, in return, issue debt that receives a higher rating and carries a lower interest rate.
References in periodicals archive ?
Cronin previously spent 16 years in various roles of increasing responsibility at MBIA, Inc., including as Vice President, New Business Development where she was in charge of marketing and developing new business opportunities.
The county's largest lease during the course of the year was for 85,000 square feet, taken by MBIA, Inc. at 1 & 2 Manhattanville Road in Purchase.
With a legal suit involving Bank of America Corp (NYSE: BAC) and MBIA, Inc threatening to span over a significant period of time, analysts believe that the two firms could settle the case.
The company, a subsidiary of financial guarantee insurer Armonk, N.Y.-based MBIA, Inc., says its exposure consists of more than $18.5 billion to the San Bernardino City Joint Powers Financing Authority leases for municipal properties and less than $15 million to San Bernardino city sewer.
MBIA, Inc (MBI.N), a bond insurer, has sued Morgan Stanley (MS.N) for misrepresenting the quality of mortgage backed securities that it had insured.
As part of the settlement, MBIA, Inc., and MBIA Insurance Corporation have agreed to reforms and a review of their practices by an independent consultant, and will pay a total of $75 million in restitution and penalties.
MBIA, Inc had alleged that the bank had induced it to insure risky mortgage-backed securities causing it losses.
Credit Suisse was accused of fraudulently inducing MBIA, Inc, a bond insurer, to guarantee USD900m of mortgage-backed bonds.
A plea by MBIA, Inc (NYSE: MBI) to dismiss a lawsuit that accuses it of splitting up its guarantee business to prevent a pay off on bond insurance policies has been rejected by a court.
A unit of bond insurer, MBIA, Inc (MBI.N) has sued Credit Suisse Securities, a unit of Credit Suisse Group (CSGN.VX), and two of its mortgage affiliates.
Banks such as Bank of America Corp (NYSE: BAC), JPMorgan Chase & Co (NYSE: JPM) and UBS AG (NYSE: UBS) have sued bond insurer, MBIA, Inc.
MBIA, Inc, a bond insurer, has announced that two of its units have sued Merrill Lynch & Co businesses now owned by Bank of America Corp (NYSE: BAC).