Deutsche Bank Reports Higher Than Expected 4Q Loss For MBIA

In a report published by Deutsche Bank, MBIA's MBI 4Q loss was higher than expected. According to Deutsche Bank, MBIA's operating loss per share was $1.56 versus the Street loss estimate of $0.27 and our loss estimate of $0.40. “The $1.56 loss per share is based on our calculations. The higher than expected loss was driven primarily by greater RMBS and commercial real estate losses. The net gain per share was $2.24 driven by an increase in unrealized gains on derivatives.” MBIA closed yesterday at $11.05.