The data leak at Municipal Bond Insurance Association, the nation’s largest bond insurer, compromised the data of thousands of local U.S. government entities. Now there are charges the company knew about the breach, but did nothing at first.
Due to a misconfiguration in a company Web server on Monday, Municipal Bond Insurance Association, the nation’s largest bond insurer, exposed countless customer account numbers, balances and other sensitive data, according to the same security firm that called the Home Depot data breach.
Lender Flagstar Bank doesn’t exactly personify the old ‘phoenix rising from the ashes’ story line, but it’s pretty close. With most rep and warrants litigation behind it, the firm's stock is gaining traction in the eyes of at least one analyst group.
Monoline insurer MBIA managed to distance itself from loans tied to the bankruptcy estates of Residential Funding Co., Residential Cap and GMAC. The company sold its interest in claims against the firms this week.
It’s been a rough few years for bond insurer MBIA, but after settling legacy mortgage-backed securities litigation with Bank of America and Société Générale, the bond insurer assured investors this week in a securities filing that all major doubts about the firm’s future are over.
Layton has over 35 years of experience in financial services and as a corporate leader. He worked for nearly 30 years at JPMorgan Chase and its predecessors, starting as a trainee and rising to vice chairman and member of the three-person Office of the Chairman, retiring in 2004..
"The questions become, ‘Do the courts find a distinction between housing policy and lending, as in whether to make a loan and how you price that loan? Does the government get broader discretion than the private sector?’ ” Andreano said. “It’s not fleshed out.” Read More