Two Thornburg Mortgage directors appointed by shareholder resign

By Angela McDaniels

Tacoma, Wash., March 12 - Thornburg Mortgage, Inc. directors David J. Matlin and Mark R. Patterson each resigned from the company's board of directors effective Thursday, according to a schedule 13D/A filed with the Securities and Exchange Commission.

Matlin and Patterson were initially appointed as directors in April 2008 under rights granted to a group of Thornburg investors led by MP TMA LP.

In the SEC filing, MP TMA said the resignations were not due to any disagreement with Thornburg or other members of the board.

The investors have not yet chosen any replacement directors but retain the right to designate up to three directors at any time during which they meet the relevant ownership requirement.

The investor group beneficially owns 120,762,291 shares, or 23.7%, of the company's common stock.

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

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