Thornburg Mortgage reports “modestly increasing delinquencies” and a loss of $3.31 billion in the first quarter (“because of writedowns on securities linked to real estate”). It’s interesting to note as Thornburg specializes in jumbo adjustable rate mortgages for those with great credit (and assets). You know, fellow San Franciscans.
∙ Thornburg Reports Loss of $3.31 Billion on Writedowns [Bloomberg]
∙ Premier Lender Thornburg Mortgage Headed Towards Bankruptcy? [SocketSite]