Former Thornburg Mortgage posts $128,861 operating loss for November

By Mark Reccek

Bethlehem, Pa., Dec. 22 – TMST, Inc., formerly Thornburg Mortgage, Inc., reported an operating loss of $128,861 for November on zero interest income, according to its monthly operating report filed Tuesday with the U.S. Bankruptcy Court for the District of Maryland.

For October, TMST posted an operating loss of $129,757 on zero interest income.

TMST’s net loss for November was $118,535, compared to a net gain of $5.49 million for October.

The company also had cash and cash equivalents of $43.2 million for November, compared to $43.61 million as of Oct. 31.

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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