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Former Thornburg Mortgage shows February operating loss of $127,007
By Kali Hays
New York, March 23 – TMST, Inc. formerly Thornburg Mortgage, Inc., marked an operating loss of $127,007 for February on zero interest income, according to its monthly operating report filed March 23 with the U.S. Bankruptcy Court for the District of Maryland.
In January, TMST posted a $152,131 operating loss, also on zero interest income.
TMST’s net loss for February was $427,722, widening from $375,884 in January.
The company also reported cash and cash equivalents of $40.92 million as of Feb. 28, down from $41.06 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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