Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  Schachinger Joseph R.
 2. Date of Event Requiring Statement (Month/Day/Year)
05/11/2017		 3. Issuer Name and Ticker or Trading Symbol
MBIA INC [MBI]
(Last)
(First)
(Middle)
1 MANHATTANVILLE ROAD, SUITE 301		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Controller
 5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

PURCHASE, NY 10577		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 49,177 (1)
D
 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Schachinger Joseph R.
1 MANHATTANVILLE ROAD
SUITE 301
PURCHASE, NY 10577		       Controller  

Signatures

/s/ Jonathan C. Harris, Attorney-in-fact 05/15/2017
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Shares acquired prior to status as Reporting Person including a) 14,175 shares held in the Reporting Person's account; b) 2,263 shares of restricted stock granted at $12.78 per share and vesting entirely in March 2018, 4,355 shares of restricted stock granted at $14.99 per share and vesting 50% in March 2018 and 50% in March 2019, 10,451 shares of restricted stock granted at $9.37 per share and vesting in one-third increments in each of March 2018, 2019 and 2020, 8,294 shares of restricted stock granted at $8.44 per share and vesting in one-third increments in March 2019, 2020 and 2021, and 7,307 shares of restricted stock granted at $9.58 per share and vesting in one-third increments in March 2020, 2021 and 2022; and c) 2,332 shares held in the employee 401(k) plan.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.

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