Former Thornburg Mortgage records $191,275 November operating loss

By Lisa Kerner

Charlotte, N.C., Dec. 20 - TMST Inc., formerly Thornburg Mortgage, Inc., posted a $191,275 operating loss for November on $9,455 of interest income, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the District of Maryland.

In comparison, the company posted a $186,025 operating loss for October on $9,769 of interest income.

TMST reported a $958,965 net loss for November, widening from an $813,465 October net loss.

The company had cash and cash equivalents of $112.5 million at Nov. 30, down from $113.11 million at the end of October.

TMST, a Santa Fe, N.M., lender specializing in jumbo mortgages, filed for bankruptcy on May 1, 2009. Its Chapter 11 case number is 09-17787.

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