Former Thornburg Mortgage posts $133,041 operating loss for December

By Caroline Salls

Pittsburgh, Jan. 23 - TMST Inc., formerly Thornburg Mortgage, Inc., posted an operating loss of $133,041 for December on zero interest income, according to its monthly operating report filed Wednesday with the U.S. Bankruptcy Court for the District of Maryland.

Those figures compare to a $40,542 operating loss posted for November, also on zero interest income.

The net loss for December was $636,659, widening from a $499,139 November net loss.

The company also reported cash and cash equivalents of $29.8 million as of Dec. 31, down from $31.39 million at the end of November.

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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