As one of the largest worldwide financial guarantors of structured financings, MBIA provides credit enhancement for a wide variety of asset classes. With offices in North America, Europe, Asia and Australia, MBIA has established resources around the world providing securitizations and bond insurance for the world's leading specialty finance companies, commercial banks, insurance companies and investment banks. MBIA's guarantee is an unconditional and irrevocable guarantee of the payment of the principal and interest on insured obligations when due or when MBIA has the right to accelerate.

As noted in the Letter to Owners dated February 25, 2008, MBIA suspended the writing of all new structured finance business in order to both increase capital safety margins and allow the Company to evolve and revise its credit appetite for the future.

For issuers:
• Provides protection against issuer default and downgrade risk
• Lowers borrowing costs by reducing interest rates
• Broadens range of investors
• Simplifies credit structure for complex bond issues
• Provides greater access to the capital markets

For investors:
• Provides protection against issuer default and downgrade risk
• Enhances liquidity for secondary market trading
• Simplifies risk assessment

For more information on our transactions, click here to view the Structured Finance Insured Portfolio.