Former Thornburg Mortgage marks $86,928 operating loss for February

By Caroline Salls

Pittsburgh, March 25 - TMST, Inc., formerly Thornburg Mortgage, Inc., posted an operating loss of $86,928 for February on zero interest income, according to its monthly operating report filed Tuesday with the U.S. Bankruptcy Court for the District of Maryland.

Those figures compare with an operating loss of $186,538 for January, also on zero interest income.

The net loss for February was $547,679, widening from a $462,679 January net loss.

The company also reported cash and cash equivalents of $29.17 million as of Feb. 28, down from $29.5 million at the end of January.

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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