Heard on the Street:Bank of America's stock is on a tear, but one trend hasn't been its friend: legal decisions in disputes over mortgages guaranteed by bond insurers or sold to investors.
Bondholders and bond insurers are challenging the eligibility of San Bernardino, California, to file for bankruptcy protection, claiming the city provided no financial information to its creditors. Their court filings follow one by the city’s...
Two bond insurers challenged the eligibility of Stockton, California, for bankruptcy, arguing that the city can cut pension benefits, a move that could have profound implications for the state. The court filings set a roadmap for a battle, in or...
A growing number of U.S. cities are choosing to fund essential services like public safety and garbage collection over making payments on their outstanding debt, as rising costs and falling revenue deplete their budgets. So far, the bond defaults...
Radian Group Inc., the second- largest U.S. mortgage guarantor, may expand into state- and local-government debt insurance after the credit crisis undermined the top municipal bond insurers.
Bond insurers surged Friday after Assured Guaranty got more than $1 billion from Bank of America to resolve disputes over mortgage securities Assured had guaranteed. The deal sparked hope that other bond insurers, such as MBIA Inc. may be able...
NEW YORK (TheStreet) - Monoline insurers that back municipal bonds say that their business is not disappearing any time soon.
Dominic Frederico, president and CEO of Assured Guaranty said the company did almost $400 million in revenue on...
New York state lawmakers have scheduled a public hearing next month to gather information on whether certain banks intentionally defrauded bond insurers about the creditworthiness of subprime-mortgage-backed securities.
Standard & Poor’s could downgrade bond insurers by a full category or more if new ratings standards for the sector are implemented and the companies do not raise more capital, the agency said Monday. Bond insurers’ shares fell sharply, as …
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