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Former Thornburg Mortgage posts $168,429 operating loss for January
By Caroline Salls
Pittsburgh, Feb. 27 – TMST, Inc., formerly Thornburg Mortgage, Inc., reported an operating loss of $168,429 for January on $794 in interest income, according to its monthly operating report filed Feb. 26 with the U.S. Bankruptcy Court for the District of Maryland.
In December, TMST posted a $159,038 operating loss on zero interest income.
The net loss for January was $417,862, widening from a $237,434 December net loss.
The company had cash and cash equivalents of $62.71 million as of Jan. 31, down from $63.17 million at the end of December.
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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