Items Tagged with 'Ambac Financial Group'


  • Ambac earnings drop to $68.6 million

    Market challenges disrupt earnings
    Ambac Financial Group’s net income fell in the fourth quarter 2013 to $68.6 million, or $1.49 per share, from $143.6 million, or 47 cents per share, in 2012, as earnings were impacted by current market challenges.
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  • Monday Morning Cup of Coffee

    A look at the stories on HousingWire’s weekend desk…with more coverage to come on bigger issues. Regulators closed three banks over the weekend, making it 72 total bank failures for 2009. The Federal Deposit Insurance Corp. (FDIC) estimates that the closings will cost a combined $185m. The Florida Office of Financial Regulation closed the First State Bank in Sarasota, Florida, which costs the FDIC $116m. Stearns Bank will purchase all but $8m of the $387m in total deposits and agreed to buy $451m of the failed bank’s $463m in total assets.
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  • S&P Slashes Ambac to Junk on Expected Losses

    Bond insurer Ambac Financial Group [stock ABK][/stock] this week estimated statutory impairment losses on credit derivatives for its Ambac Assurance segment rose by $1.6bn to a total $4.9bn in Q209. These losses, which the firm expects to report on August 5, are tied to collateralized debt obligations on asset-backed securities, the underlying collateral of which continues to decline in performance.
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  • Ambac's RMBS Losses Continue

    Bond insurer Ambac Financial Group [stock ABK][/stock] lost a net $392.2m, or $1.36 a share, in Q109 as its platform linked to residential mortgage-backed securities (RMBS) continued to deteriorate.
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  • Moody's Downgrades Ambac to Junk

    The bond insurer brouhaha hasn't yet run its course, with Moody's Investors Service late Monday cutting Ambac Financial Group's [stock ABK][/stock] Ambac Assurance bond insurance unit to junk territory over concerns about rising RMBS losses.
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  • Bond Insurers Post Losses on Weak RMBS

    Bond insurer MBIA Inc. [stock MBI][/stock] said late Monday it had recorded a $2.7 billion net loss -- or $12.29 per share -- for the full year 2008, up from the $1.9 billion -- or $15.17 per share -- lost in all of 2007. The company said it saw $1.2 billion lost in the fourth quarter alone, although this figure showed a decline from year-ago levels, when the company posted a $2.3 billion net loss in the fourth quarter 2007.
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