Former Thornburg Mortgage posts $309,728 October operating income

By Caroline Salls

Pittsburgh, Nov. 20 - TMST, Inc., formerly Thornburg Mortgage, Inc., posted $309,728 of operating income for October on $42,737 in total interest income, according to its monthly operating report filed Friday with the U.S. Bankruptcy Court for the District of Maryland.

In comparison, the company reported a $1.76 million operating loss for September on $34,730 in total interest income.

TMST posted a $985,863 net loss for October, narrowing from a $1.28 million September net loss.

The company had $24.07 million in cash and cash equivalents at Oct. 31, up from $23.26 million at the end of September.

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

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