Former Thornburg Mortgage posts $215,442 February operating loss

By Caroline Salls

Pittsburgh, March 22 - TMST Inc., formerly Thornburg Mortgage, Inc., posted a $215,442 operating loss for February on zero interest income, according to its monthly operating report filed March 22 with the U.S. Bankruptcy Court for the District of Maryland.

In comparison, the company posted a $262,179 operating loss for January on $9,772 of interest income.

TMST reported a $1.25 million net loss for February, widening from a $777,616 January net loss.

The company had cash and cash equivalents of $109.66 million at Feb. 28, down from $110.41 million at the end of January.

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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