Former Thornburg Mortgage records $150,790 operating loss for April

By Caroline Salls

Pittsburgh, May 21 - TMST Inc., formerly Thornburg Mortgage, Inc., posted a $150,790 operating loss for April on zero interest income, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the District of Maryland.

In comparison, TMST posted a $260,487 operating loss for March, also on zero interest income.

The net loss for April was $670,656, down from $5.94 million of net income from March.

The company listed $106.49 million in cash and cash equivalents as of April 30, down from $107.12 million at the end of March.

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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