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Former Thornburg Mortgage records $184,776 operating loss for March
By Caroline Salls
Pittsburgh, April 25 – TMST, Inc., formerly Thornburg Mortgage, Inc., reported an operating loss of $184,776 for March on zero interest income, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the District of Maryland.
In comparison, TMST posted a $156,444 operating loss for February, also on zero interest income.
The net income for March was $29.7 million, improving significantly from a $549,697 February net loss.
The company had cash and cash equivalents of $66.58 million as of March 31, up from $36.98 million at the end of February.
Based in Santa Fe, N.M., TMST is a lender specializing in jumbo mortgages. It filed for bankruptcy on May 1, 2009 under Chapter 11 case number 09-17787.
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