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Amidst a somewhat sluggish economic environment, Morgan Stanley has cleverly grown through acquisitions. Furthermore, the company's decision to finally resolve a 2-year-old legal war with MBIA means that it would be able to comply with newly introduced...
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Brian Moynihan to participate in a deposition related to a mortgage lawsuit, according to Bloomberg. The news agency on Thursday reported Charlotte-based BofA (NYSE: BAC) asked a judge this week to issue a protective order preventing Moynihan from any...
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MBIA may invoke the repurchase provisions upon showing that the characteristics of a loan was [sic] not as represented by Countrywide
SOURCE: The Big Picture -
Bank of America spokesman Lawrence Grayson said in a statement to Bloomberg. “The discovery process remains fully available to MBIA, including through the numerous current and former executives that MBIA will be deposing.” The contentious MBIA suit is...
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The company has accused BofA acquisition Countrywide Financial of making riskier than advertised home loans that were then packaged into securities and insured by MBIA. When some of the loans defaulted, MBIA had to pay. The contentious MBIA suit is...
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Bank of America spokesman Lawrence Grayson said in a statement to Bloomberg. “The discovery process remains fully available to MBIA, including through the numerous current and former executives that MBIA will be deposing.” The contentious MBIA suit is...
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if MBIA’s interest in the loans is ‘materially and adversely’ affected by Countrywide’s breach…[meaning there is a] material increase in the risk profile.
SOURCE: The Big Picture -
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The insurer made its claim in a letter on Wednesday sent to New York State Supreme Court Justice Eileen Bransten seeking to force Countrywide to turn over a variety of documents. Countrywide replied on Thursday that MBIA’s [ MBI 11.58 -0.06 (-0.52%) ]...
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The insurer made its claim in a letter on Wednesday sent to New York State Supreme Court Justice Eileen Bransten seeking to force Countrywide to turn over a variety of documents. By the way, here's what the courts have ruled as to what constitutes...
About MBIA, Inc.
Wikipedia
MBIA, Inc. (NYSE: MBI) is a financial services company, a member of the S&P 500 index. It was founded in 1973 and headquartered in Armonk, New York and has approximately 400 employees. MBIA is the largest bond insurer. Full Article
