Thornburg Mortgage Company Description
Try as it might, single-family residential mortgage lender Thornburg Mortgage hasn't weathered the storm of the global economic crisis. The real estate investment trust (REIT) specialized in prime jumbo and super-jumbo adjustable-rate mortgages (ARMs); the lion's share of its assets are in short-term investments and high-quality ARM securities (government guaranteed or highly rated by independent entities). Thornburg generated income primarily from the difference between the interest income of its ARM assets and the costs associated with acquiring and holding them. The debt-ridden Thornburg plans to file for Chapter 11 bankruptcy protection and eventually discontinue operations.
View the Comprehensive Company Description for Thornburg Mortgage
The Company Description provides a historical perspective of Thornburg Mortgage's organization from inception to current status.
Produced by Hoover's in-house editorial team, the Company Description tracks ownership transitions, company progress via mergers and acquisitions, major growth milestones, and strategic initiatives, to provide a holistic view of Thornburg Mortgage's evolution in the marketplace.
