Former Thornburg Mortgage’s operating loss widens to $144,513 in May

By Caroline Salls

Pittsburgh, June 22 – TMST, Inc., formerly Thornburg Mortgage, Inc., reported an operating loss of $144,513 for May on zero interest income, according to its monthly operating report filed Wednesday with the U.S. Bankruptcy Court for the District of Maryland.

In comparison, TMST posted a $140,148 operating loss for April, also on zero interest income.

The net loss for May was $469,327, growing from a $442,707 April net loss.

The company had cash and cash equivalents totaling $40.75 million as of May 31, down from $41.18 million at the end of April.

Based in Santa Fe, N.M., TMST is a lender specializing in jumbo mortgages. It filed for bankruptcy May 1, 2009 under Chapter 11 case number 09-17787.

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