NY State may soon seize MBIA's mortgage insurance unit, NY Post reports

theflyonthewall.com

New York state regulators are poised, within “weeks or perhaps days," to seize the MBIA Insurance Corp.'s money-losing mortgage insurance unit because it is running out of cash, sources say, reports the New York Post. Benjamin Lawsky, the superintendent of the state’s Department of Financial Services, MBIA’s regulator, is interviewing advisers to help it seize the business, another source said.

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