Former Thornburg Mortgage operating loss widens to $183,524 in August

By Caroline Salls

Pittsburgh, Sept. 22 - TMST Inc., formerly Thornburg Mortgage, Inc., posted a $183,524 operating loss for August on zero interest income, according to its monthly operating report filed Thursday with the U.S. Bankruptcy Court for the District of Maryland.

In comparison, the company reported a $172,682 operating loss for July, also on zero interest income.

TMST had a $662,781 net loss in August, narrowing from a $772,008 July net loss.

The company listed $106.29 million in cash and cash equivalents at Aug. 31, down from $106.67 million at the end of July.

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. Its Chapter 11 case number is 09-17787.

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