Former Thornburg Mortgage's operating loss shrinks to $125,896 in July

By Caroline Salls

Pittsburgh, Aug. 21 - TMST Inc., formerly Thornburg Mortgage, Inc., posted an operating loss of $125,896 for July on zero interest income, according to its monthly operating report filed Wednesday with the U.S. Bankruptcy Court for the District of Maryland.

Those figures compare to an operating loss of $143,221 reported for June, also on zero interest income.

The net loss for July was $641,453, declining from $2.72 million of June net income.

The company also reported cash and cash equivalents of $29.63 million as of July 31, down from $30.65 million at the end of June.

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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