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Former Thornburg Mortgage operating loss narrows to $158,802 in June
By Caroline Salls
Pittsburgh, July 26 – TMST, Inc., formerly Thornburg Mortgage, Inc., reported an operating loss of $158,802 for June on zero interest income, according to its monthly operating report filed July 25 with the U.S. Bankruptcy Court for the District of Maryland.
In May, TMST posted a $185,237 operating loss, also on zero interest income.
The net loss for June was $521,772, declining from a $344,383 May net loss.
The company had cash and cash equivalents of $64.98 million as of June 30, down from $65.45 million at the end of May.
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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