<SEC-DOCUMENT>0001157523-13-005897.txt : 20131226
<SEC-HEADER>0001157523-13-005897.hdr.sgml : 20131225
<ACCEPTANCE-DATETIME>20131226080015
ACCESSION NUMBER:		0001157523-13-005897
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20131224
ITEM INFORMATION:		Other Events
FILED AS OF DATE:		20131226
DATE AS OF CHANGE:		20131226

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MBIA INC
		CENTRAL INDEX KEY:			0000814585
		STANDARD INDUSTRIAL CLASSIFICATION:	SURETY INSURANCE [6351]
		IRS NUMBER:				061185706
		STATE OF INCORPORATION:			CT
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09583
		FILM NUMBER:		131297886

	BUSINESS ADDRESS:	
		STREET 1:		113 KING ST
		CITY:			ARMONK
		STATE:			NY
		ZIP:			10504
		BUSINESS PHONE:		914-273-4545

	MAIL ADDRESS:	
		STREET 1:		113 KING ST
		CITY:			ARMONK
		STATE:			NY
		ZIP:			10504
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a50774382.htm
<DESCRIPTION>MBIA INC. 8-K
<TEXT>
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      <br>
      <font style="font-size: 18pt"><b>UNITED STATES</b></font><br><font style="font-size: 18pt; font-family: Times New Roman"><b>SECURITIES
      AND EXCHANGE COMMISSION</b></font><br><font style="font-family: Times New Roman; font-size: 14pt"><b>Washington,
      D.C. 20549</b></font><br><br><font style="font-size: 18pt; font-family: Times New Roman"><b>FORM
      8-K</b></font><br><br><font style="font-family: Times New Roman; font-size: 14pt"><b>CURRENT
      REPORT</b></font><br><br><font style="font-family: Times New Roman; font-size: 10pt">Pursuant
      to Section 13 or 15(d) of</font><br><font style="font-family: Times New Roman; font-size: 10pt">
      the Securities Exchange Act of 1934</font><br><br><br><font style="font-size: 10pt; font-family: Times New Roman">Date
      of Report (Date of earliest event reported): December 26, 2013 (December
      24, 2013)</font><br><br><font style="font-size: 18pt"><b>MBIA INC.</b></font><br><font style="font-size: 10pt; font-family: Times New Roman">(Exact
      name of registrant as specified in its charter)</font><br><br>
    </p>
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            <b>Connecticut</b>
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          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>1-9583</b>
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        </td>
        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; width: 33%; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>06-1185706</b>
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          <p style="margin-bottom: 0px; margin-top: 0px">
            (State or other jurisdiction of
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            incorporation)
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          <p style="margin-bottom: 0px; margin-top: 0px">
            (Commission File Number)
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        <td style="padding-left: 0.0px; text-align: center; width: 33%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (IRS Employer Identification No.)
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      <br>

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    <table cellspacing="0" style="font-size: 10pt; width: 100%; margin-bottom: 10.0px; font-family: Times New Roman">
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          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>113 King Street,<br>Armonk, New York</b>
          </p>
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        <td style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; width: 50%; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>10504</b>
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          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt">(Address
            of principal executive offices)</font>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 50%" valign="bottom">
          <font style="font-family: Times New Roman; font-size: 10pt">(Zip
          Code)</font>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt">Registrant&#8217;s
      telephone number, including area code:</font><br><b>914-273-4545</b><br><br><br><b>Not
      Applicable</b><br><font style="font-family: Times New Roman; font-size: 10pt">(Former
      name or former address, if changed since last report)</font><br><br><br>
    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 10pt">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions:</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font><br>
    </p>
    <p>

    </p>
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        <div style="text-align: left">

        </div>
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        <div style="text-align: center">

        </div>
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          <hr style="height: 1.5pt; color: black">

        </div>
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        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p>
      <b>Item 8.01.&#160;&#160;&#160;&#160; OTHER EVENTS.</b>
    </p>
    <p>
      MBIA Inc. (the &#8220;Company&#8221;) announced today that on December 24, 2013 its
      wholly-owned subsidiary,&#160;MBIA Insurance Corporation (&#8220;MBIA Corp.&#8221;),&#160;sold
      its claims and certain related rights (the &#8220;Claims&#8221;) against the
      bankruptcy estates of Residential Funding Company, LLC (&#8220;RFC&#8221;), GMAC
      Mortgage LLC (&#8220;GMAC&#8221;) and Residential Capital LLC and certain related
      entities (collectively, &#8220;ResCap&#8221;)&#160;for an amount that modestly exceeds
      the recoveries recorded in respect of the Claims on MBIA Corp.&#8217;s&#160;
      balance sheet as of September 30, 2013.&#160;&#160; As previously disclosed, MBIA
      Corp. had asserted contract claims (referred to as &#8220;put-back&#8221; claims)
      against RFC, GMAC and ResCap related to mortgage loans whose inclusion
      in insured securitizations failed to comply with representations and
      warranties.&#160; ResCap and its wholly-owned subsidiary companies, RFC and
      GMAC, each filed for bankruptcy protection in May 2012, and their
      reorganization plan was approved in bankruptcy court on December 11,
      2013.
    </p>
    <p>
      MBIA Corp. used approximately $72 million of the proceeds of the sale of
      the Claims to repay all outstanding borrowings plus accrued interest and
      related expenses under its $500 million credit agreement with Blue Ridge
      Investments, L.L.C.&#160; (the &#8220;Blue Ridge Secured Loan&#8221;).&#160; In addition, the
      Blue Ridge Secured Loan was terminated as a result of the sale of the
      Claims since the aggregate proceeds of the sale exceeded Blue Ridge&#8217;s
      commitment amount, which was reduced to zero under the terms of the Blue
      Ridge Secured Loan.
    </p>
    <p>

    </p>
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          <hr style="height: 1.5pt; color: black">

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        </div>
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    </div>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt"><b>SIGNATURES</b></font>
    </p>
    <p style="font-size: 10pt; text-indent: 30.0px; font-family: Times New Roman">
      <font style="font-family: Times New Roman; font-size: 10pt">Pursuant to
      the requirements of the Securities Exchange Act of 1934, the registrant
      has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized.</font>
    </p>
    <p style="font-size: 10pt; text-indent: 30.0px; font-family: Times New Roman">

    </p>
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        </td>
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          <p style="margin-bottom: 0px; margin-top: 0px">
            MBIA INC.
          </p>
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        <td style="width: 10%">

        </td>
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        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td colspan="2">

        </td>
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          &#160;
        </td>
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        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td colspan="2">

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          &#160;
        </td>
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        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 10%">

        </td>
      </tr>
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        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px; width: 5%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px; width: 45%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px; width: 3%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            By:
          </p>
        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: left; border-bottom: solid black 1.0pt" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            /s/ Ram D. Wertheim
          </p>
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        <td style="padding-left: 0.0px; text-align: left; width: 37%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Ram D. Wertheim
          </p>
        </td>
        <td style="width: 10%">

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        </td>
        <td style="width: 45%">

        </td>
        <td style="width: 3%">

        </td>
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          <p style="margin-bottom: 0px; margin-top: 0px">
            Chief Legal Officer
          </p>
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        <td style="width: 10%">

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        </td>
        <td style="width: 45%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 37%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 10%" valign="top">
          &#160;
        </td>
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          <p style="margin-bottom: 0px; margin-top: 0px">
            Date:
          </p>
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        <td style="padding-left: 0.0px; text-align: left; width: 45%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            December 26, 2013
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