Former Thornburg Mortgage posts $40,542 operating loss for November

By Caroline Salls

Pittsburgh, Dec. 27 - TMST Inc., formerly Thornburg Mortgage, Inc., posted an operating loss of $40,542 for November on zero interest income, according to its monthly operating report filed Thursday with the U.S. Bankruptcy Court for the District of Maryland.

Those figures compare to a $226,421 operating loss reported for October, also on zero interest income.

The net loss for November was $499,139, narrowing from an $843,831 October net loss.

The company also reported cash and cash equivalents of $31.39 million as of Nov. 30, down from $31.53 million at the end of October.

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.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.