Former Thornburg Mortgage posts $203,218 operating loss for July

By Caroline Salls

Pittsburgh, Aug. 24 - TMST Inc., formerly Thornburg Mortgage, Inc., posted a $203,218 operating loss for July on $9,765 of 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 a $187,254 operating loss for June on $7,855 of interest income.

TMST reported a $1.06 million net loss for July, narrowing from a $1.12 million June net loss.

The company had cash and cash equivalents of $115.48 million at July 31, down slightly from $115.97 million at the end of June.

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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