Former Thornburg Mortgage reports $342,975 November operating loss

By Caroline Salls

Pittsburgh, Dec. 22 - TMST Inc., formerly Thornburg Mortgage, Inc., posted a $342,975 operating loss for November on $1 of interest income, according to its monthly operating report filed Thursday with the U.S. Bankruptcy Court for the District of Maryland.

In comparison, TMST reported a $164,081 operating loss for October on zero interest income.

The net loss for November was $1.12 million, widening from an $878,798 net loss in October.

The company listed $104.15 million in cash and cash equivalents as of Nov. 30, down from $104.89 million at the end of October.

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

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