SEC investigating Thornburg Mortgage financial restatement

By Caroline Salls

Pittsburgh, April 28 - Thornburg Mortgage, Inc. is being investigated by the Securities and Exchange Commission in connection with the restatement of the company's financial statements for the 2007 fiscal year, according to an 8-K filed Monday with the SEC.

The commission is also investigating reverse repurchase agreement margin calls and the valuation, impairment and/or disclosures related to the treatment of mortgage-backed securities addressed in the restatement.

According to the 8-K, the SEC said in its investigation notice that it has not determined that any violations of the securities laws have occurred.

In addition, Thornburg said the New York Stock Exchange is reviewing common stock transactions that occurred before the company's Jan. 9 disclosure of the impact of recent mortgage industry market events on the company's GAAP book value.

Thornburg is a Santa Fe, N.M., lender specializing in jumbo mortgages.

© 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.