Former Thornburg posts $164,088 operating loss for May

By Sarah Lizee

Olympia, Wash., June 28 – TMST, Inc., formerly Thornburg Mortgage, Inc., posted a $164,088 operating loss for May on $22,769 in net operating revenue, according to its monthly operating report filed Tuesday with the U.S. Bankruptcy Court for the District of Maryland.

The net loss for May was $3.5 million.

The company had $65.53 million in cash and cash equivalents as of May 31.

Based in Santa Fe, N.M., TMST is a lender specializing in jumbo mortgages. It filed for bankruptcy on May 1, 2009 under Chapter 11 case number 09-17787.

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