Former Thornburg Mortgage operating loss narrows to $116,116 in May

By Caroline Salls

Pittsburgh, June 29 – TMST, Inc., formerly Thornburg Mortgage, Inc., reported an operating loss of $116,116 for May on $48,548 in interest income, according to its monthly operating report filed Thursday with the U.S. Bankruptcy Court for the District of Maryland.

In April, TMST posted a $123,008 operating loss on $43,303 in interest income.

The net loss for May was $302,650, widening from a $276,396 April net loss.

The company had $61.44 million in cash and cash equivalents as of May 31, down from $61.69 million at the end of April.

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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