Former Thornburg Mortgage records $288,507 operating loss for August

By Lisa Kerner

Charlotte, N.C., Sept. 20 - TMST Inc., formerly Thornburg Mortgage, Inc., posted a $288,507 operating loss for August on $26,378 of interest income, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the District of Maryland.

In comparison, the company posted a $203,218 operating loss for July on $9,765 of interest income.

TMST reported a $609,461 net loss for August, narrowing from a $1.06 million July net loss.

The company had cash and cash equivalents of $114.99 million at Aug. 31, down slightly from $115.48 million at the end of July.

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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