Former Thornburg Mortgage reports operating loss of $138,533 for May

By Kali Hays

New York, July 23 – TMST, Inc., formerly Thornburg Mortgage, Inc., reported an operating loss of $138,243 for June on zero interest income, according to its monthly operating report filed Wednesday with the U.S. Bankruptcy Court for the District of Maryland.

Those numbers compare to an operating loss of $128,533 in May, also on zero interest income.

The net loss for June was $420,754, down from a $567,990 net loss in May.

The company also reported cash and cash equivalents of $27.28 million as of June 30, down slightly from $27.71 million at the end of May.

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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