Former Thornburg Mortgage posts $173,197 operating loss for September

By Jim Witters

Wilmington, Del., Oct. 22 - TMST Inc., formerly Thornburg Mortgage, Inc., posted an operating loss of $173,197 on zero interest income during September, according to the company's monthly operating report filed Oct. 22 with the U.S. Bankruptcy Court for the District of Maryland.

Those figures compare to a $146,972 operating loss on zero interest income for August.

The net loss for September was $732,003, widening from $725,153 in August.

The company also reported cash and cash equivalents of $32.24 million as of Sept. 30, down from $104.3 million at the end of August.

TMST is a Santa Fe, N.M.-based lender specializing in jumbo mortgages. It filed for bankruptcy on May 1, 2009 under Chapter 11 case number 09-17787.

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