Thornburg Mortgage Loses $3.31 Billion

Last post 06-21-2008 1:44 AM by rosebud07. 6 replies.

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06-12-2008 8:01 AM

karand
Joined on 07-10-2007
Posts 3,873

Thornburg Mortgage Loses $3.31 Billion

Thornburg Mortgage, a specialist in jumbo home loans that nearly went bankrupt in March, on Thursday posted a $3.31 billion first-quarter loss as the value of mortgages and other securities it owns plummeted.

The company said its net loss before preferred stock dividends totaled $20.64 per share, and compared with a year-earlier profit of $75 million, or 62 cents per share.

Thornburg shares closed Wednesday at 72 cents, according to New York Stock Exchange data. Their 52-week high is $27.80, set last June 20.

06-12-2008 9:02 AM In reply to

donwilliams2
Joined on 11-20-2007
Posts 582

Re: Thornburg Mortgage Loses $3.31 Billion

we need to let the market handle the mortage crises....not the government

06-12-2008 9:42 PM In reply to

helen879
Joined on 07-07-2007
Posts 626

Re: Thornburg Mortgage Loses $3.31 Billion

Thanks for the info.

06-18-2008 6:22 AM In reply to

Savannahred
Joined on 08-28-2007
Posts 663

Re: Thornburg Mortgage Loses $3.31 Billion

And too think....a year or so ago, Thornburg was on my watch list in real life trading! Luckily, I never bought it!!!!

06-18-2008 10:47 AM In reply to

Windbreaker
Joined on 02-21-2008
Posts 491

Re: Thornburg Mortgage Loses $3.31 Billion

Sometimes little miracles happen.

06-21-2008 12:33 AM In reply to

podstock
Joined on 05-11-2008
Posts 546

Re: Thornburg Mortgage Loses $3.31 Billion

I am absolutely shocked that TMA is still trading on the markets it's over for them, and they're not big enough for the Fed to bother bailing them out Fed's got more worries, what with MER and LEH about to go bankrupt

06-21-2008 1:44 AM In reply to

rosebud07
Joined on 11-01-2007
Posts 3,263

Re: Thornburg Mortgage Loses $3.31 Billion

TMA shares were @ 25 cents at closing bell today. Someone will bail them out.

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