mbia

MBIA Reduces CMBS Insurance Exposure By $3 Billion

MBIA Inc. (NYSE:MBI) has lowered its exposure to commercial mortgage-backed securities by $3 billion after reaching a deal with Nomura Holdings, Inc. (ADR) (NYSE:NMR). MBIA will pay Nomura $325 million now and possibly another $83 million later (depending on the outcome of some other legal disputes) to commute the insurance policies on $3 billion in CMBS with underlying collateral originally given an A rating.

While MBIA still has $760 million of insurance exposure to CMBS . . .

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