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MBIA, Inc. provides financial guarantee insurance, investment management services, and municipal and other services to public finance and structured finance clients worldwide. The company insures financial obligations, which are sold in the new issue and secondary markets. It also provides financial guarantees for municipal bonds, asset-backed and mortgage-backed securities, investor-owned utility bonds, bonds backed by publicly or privately funded public purpose projects, bonds issued by sovereign and sub-sovereign entities and obligations collateralized by diverse pools of corporate loans, and credit default swaps, as well as pools of corporate and asset-backed bonds in the new issue and secondary markets. The municipal obligations that MBIA insures include tax-exempt and taxable indebtedness of states, counties, cities, utility districts, and other political subdivisions, as well as airports, higher education health care facilities, and similar authorities; and obligations issued by private entities that finance projects, which serve a substantial public purpose. The asset-backed and structured finance obligations insured by the company include residential and commercial mortgages, proceeds of insurance policies, various consumer loans, corporate loans and bonds, trade and export receivables, equipment, aircraft and real property leases, and infrastructure projects. It also insures privately issued bonds used for the financing of public purpose projects, including toll roads, bridges, airports, public transportation facilities, and other types of infrastructure projects. In addition, the company, through its wholly owned subsidiary, MBIA Asset Management, LLC, provides investment management products and financial services, including cash management, customized asset management and investment consulting services to local governments, school districts and other institutional clients. MBIA was founded in 1973 and is headquartered in Armonk, New York.