Former Thornburg Mortgage records $112,442 operating loss for August

By Caroline Salls

Pittsburgh, Sept. 27 – TMST, Inc., formerly Thornburg Mortgage, Inc., posted a $112,442 operating loss for August on $50,401 in interest income, according to its monthly operating report filed Wednesday with the U.S. Bankruptcy Court for the District of Maryland.

In comparison, TMST reported a $138,449 operating loss for July on $46,365 in interest income.

The net loss for August was $276,782, widening from a $224,234 July net loss.

The company had $60.95 million in cash and cash equivalents as of Aug. 31, down from $61.24 million at the end of July.

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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