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Former Thornburg Mortgage records $161,946 operating loss for April
By Caroline Salls
Pittsburgh, May 23 – TMST, Inc., formerly Thornburg Mortgage, Inc., reported an operating loss of $161,946 for April on zero interest income, according to its monthly operating report filed Tuesday with the U.S. Bankruptcy Court for the District of Maryland.
In March, TMST posted a $184,776 operating loss, also on zero interest income.
The net loss for April was $721,443, declining from $29.7 million of net income recorded in March.
The company had cash and cash equivalents of $66.06 million as of April 30, down from $66.58 million at the end of March.
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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