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Former Thornburg Mortgage’s operating loss widens to $157,168 in June
By Caroline Salls
Pittsburgh, July 27 – TMST, Inc., formerly Thornburg Mortgage, Inc., reported an operating loss of $157,168 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.
In comparison, TMST posted a $144,513 operating loss for May, also on zero interest income.
The net loss for June was $493,557, growing from a $469,327 May net loss.
The company had cash and cash equivalents totaling $40.31 million as of June 30, down from $40.75 million at the end of May.
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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