Former Thornburg Mortgage reports $144,940 operating loss for February

By Caroline Salls

Pittsburgh, March 21 – TMST, Inc., formerly Thornburg Mortgage, Inc., reported an operating loss of $144,940 for February on zero interest income, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the District of Maryland.

For January, TMST posted an operating loss of $132,752, also on zero interest income.

TMST’s net loss for February was $512,158, widening from a $253,612 January net loss.

The company also had cash and cash equivalents of $41.92 million as of Feb. 29, down from $42.36 million at the end of January.

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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