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Loan Modification

: Mortgage Lender Implode-o-Meter

MBIA Posts Profit Despite Second-Lien Woes

By Implode-Explode Heavy Industries

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"Monoline bond insurer MBIA, Inc. posted a surprise profit for shareholders in Q109, despite ongoing issues in its structured finance portfolio. Analysts had largely expected a loss. The firm said it earned $696.7m, or $3.34 per share, during the first quarter, compared with a net loss of $2.4bn, or $12.92 per share, in the year-ago period."

Full post as published by Mortgage Lender Implode-o-Meter on May 12, 2009 (boomark / email).

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