Fannie, Freddie CEOs get a well-deserved huge boost in pay

5 tips for new renters this summer

Can you afford it?

S&P Case-Shiller: Home price gains slowed in April

Nationally home prices gained 4.2%
W S
Investments / The Ticker

MBIA posts deep second-quarter loss

Insured derivatives turned out to be the culprit

bandaid_money
/ Print / Reprints /
| Share More
/ Text Size+

MBIA Inc. (MBIA) recorded a net loss of $178 million in the second quarter as the firm lost $182 million on the value of insured derivatives, Reuters reported Wednesday.

The company reported a net loss of $178 million, or 92 cents per share, in the second quarter, compared with net income of $581 million, or $2.98 per share, a year earlier.

The company had realized a $1.2 billion pre-tax gain on insured credit derivatives in the year-ago quarter.

Source: Reuters
Read full story

Recent Articles by HousingWire Staff

Comments powered by Disqus