Monday's Financial Winners & Losers

The sinking ships of mortgage lenders and bond insurers continued to take the financial sector down with them Monday, as they take on water.

Shares of jumbo loan specialist Thornburg Mortgage(TMA Quote) lost more than half their value, after the company announced it faced additional margin calls. Thornburg said it faces $270 million more in margin calls on top of the $300 million it disclosed last week, and wasn't sure it could pay. A Citibank analyst downgraded the stock to sell on fears that it would declare bankruptcy and a late rally on news that it found some liquidity through a $992 million collateralized mortgage debt transaction it financed late Monday only helped modestly. The stock closed down $4.58 at $4.32.

Fellow mortgage lender IndyMac(IMB Quote) also shed 20% to $4.92. The company updated its corporate blog noting that production was down 33% from last month and delinquencies increased. ...