Former Thornburg Mortgage marks $120,464 operating loss for October

By Caroline Salls

Pittsburgh, Nov. 28 – TMST, Inc., formerly Thornburg Mortgage, Inc., posted a $120,464 operating loss for October on $50,592 in interest income, according to its monthly operating report filed Tuesday with the U.S. Bankruptcy Court for the District of Maryland.

In comparison, TMST reported a $129,567 operating loss for September on $45,097 in interest income.

The net loss for October was $363,641, widening from a $293,302 September net loss.

The company had $60.32 million in cash and cash equivalents as of Oct. 31, down from $60.75 million at the end of September.

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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