<< Read Full Article

Writedown Thumps Thornburg

Stock quotes in this article: FNM , FRE , CFC , TMA  

Updated from 10:32 a.m. EDT

Thornburg Mortgage(TMA Quote) slumped as much as 11% after the jumbo mortgage lender revealed that losses taken on loan sales in the third quarter would be wider than expected.

Thornburg said Tuesday that it ended up selling $22 billion worth of high quality adjustable-rate mortgage assets since early August. It expects to post a loss of $1.1 billion on the asset sales.

The Santa Fe, N.M.-based lender had originally expected to sell about $20.4 billion worth of high quality ARMs and to take a loss of $863 million. ...

<< Read Full Article

Recent Comments

Loading .....




Dow Jones S&P 500 NASDAQ 10-Year Note
10,388.90 1,105.98 2,194.35 34.83
Oil *
77.74
UP
22.75
UP
6.06
UP
21.21
UP
1.03
10 Yr
3.48%
SPDR Gold
113.75
+0.22%
+0.55%
+0.98%
+3.05%
Data delayed 20 minutes

Brokerage Partners

TheStreet Premium Services

All Services