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Former Thornburg Mortgage reports $127,376 operating loss for October
By Caroline Salls
Pittsburgh, Nov. 24 – TMST, Inc., formerly Thornburg Mortgage, Inc., reported an operating loss of $127,376 for October on zero interest income, according to its monthly operating report filed Nov. 24 with the U.S. Bankruptcy Court for the District of Maryland.
In comparison, TMST posted an operating loss of $132,748 for September, also on zero interest income.
Net income for October was $15.12 million, improving from a $420,313 September net loss.
The company also reported cash and cash equivalents of $42.58 million as of Oct. 31, up from $27.54 million at the end of September.
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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