Former Thornburg Mortgage marks $192,812 operating loss for September

By Caroline Salls

Pittsburgh, Oct. 24 – TMST, Inc., formerly Thornburg Mortgage, Inc., reported an operating loss of $192,812 for September on zero interest income, according to its monthly operating report filed Friday with the U.S. Bankruptcy Court for the District of Maryland.

In comparison, TMST posted a $186,882 operating loss for August, also on zero interest income.

The net loss for September was $335,602, narrowing from a $422,263 August net loss.

The company had cash and cash equivalents totaling $39.12 million as of Sept. 30, down from $39.38 million at the end of August.

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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