Former Thornburg Mortgage posts $199,358 operating loss for January

By Caroline Salls

Pittsburgh, Feb. 23 - TMST Inc., formerly Thornburg Mortgage, Inc., posted a $199,358 operating loss for January 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, TMST reported a $110,765 operating loss for December, also on zero interest income.

The net loss for January was $572,239, narrowing from an $805,688 December net loss.

The company listed $101.74 million of cash and cash equivalents as of Jan. 31, down from $103.21 million at the end of December.

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

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