Former Thornburg Mortgage posts $45,365 November operating income

By Caroline Salls

Pittsburgh, Dec. 22 - TMST, Inc., formerly Thornburg Mortgage, Inc., posted $45,365 of operating income for November on $26,909 in total interest income, according to its monthly operating report filed Tuesday with the U.S. Bankruptcy Court for the District of Maryland.

In comparison, the company posted $309,728 of operating income for October on $42,737 in total interest income.

TMST posted a $4.25 million net loss for November, widening from a $985,863 October net loss.

The company had $27.68 million in cash and cash equivalents at Nov. 30, up from $24.07 million at the end of October.

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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