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.
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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.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
PURCHASE, N.Y: MBIA Inc. announced a consolidated GAAP net loss of $146 million, or $(1.64) per share, for the second quarter of 2018.
Ambac Financial Group, Assured Guaranty LTD and MBIA Inc., through its subsidiary National Public Finance Guarantee Corporation - all of which, for a premium, guarantee repayments to debt holders in the event of an issuer default - are collectively on the hook for upwards of (https://s3.amazonaws.com/heightllc.com/AGO_MBI_3Q17_PR_Exposure_and_Budget_Revision_Outlook.pdf?AWSAccessKeyId=AKIAIE5NNHEX3BS2LJAA&Expires=1510237726&Signature=sOD%2FsmYyADT%2B11NfF%2BR%2BMTroFBc%3D) $26 billion in Puerto Rican debt over the long term.
National Public Finance Guarantee Corporation, an indirect subsidiary of MBIA Inc. (NYSE:MBI), has said that Andrew Nakahata will join the company as managing director and head of National's Western Region.
MBIA Inc., which employs 245 people in Westchester County, is moving its global headquarters to The Centre at Purchase office campus in Purchase, NY, according to exclusive leasing agent New-mark Grubb Knight Frank (NGKF).
Haferkorn previously held senior positions at MBIA Inc. and BAWAG.
In its first earnings conference call since ending litigation with banks over the insuring of structured financial instruments this week, MBIA Inc. executives breathed a huge sigh of relief and spoke about a reinvigorated future for the guarantee insurer.
Financial services company MBIA Inc. is settling with Bank of America Corp.
Makode comes to the company from MBIA Insurance Corp., where she was general counsel, a member of the board and the chief compliance officer of MBIA Inc. She previously was vice president and counsel for Deutsche Bank AG and an associate at Cleary, Gottlieb, Steen & Hamilton.
RenaissanceRe once owned about a third of ChannelRe, which sold reinsurance to a single customer, bond insurer MBIA Inc. That meant ChannelRe was responsible for a portion of the money-losing guarantees MBIA made on securities tied to home loans.
Hiroichi Nishi, equities chief at Nikko Cordial Securities Inc., said that stocks were dragged down by ''increasing anxiety'' among market players, following Moody's Investors Service warning Wednesday that it will review the triple-A ratings of MBIA Inc. and Ambac Financial Group Inc.