THMRM Thornburg Mortgage Inc featured news, full reports, and detailed charts
Thornburg Mortgage Inc (THMRM/THMRM.PK) Wrap Up:
Thornburg Mortgage, Inc. operates as a residential mortgage lending company. It originates, acquires, and retains investments in adjustable and variable rate mortgage (ARM) assets. The companyÂ’s ARM assets consist of purchased ARM assets and ARM loans, including traditional ARM assets and hybrid ARM assets. It acquires and originates assets, through correspondent lending, wholesale lending, direct retail lending, and bulk acquisition programs. Thornburg Mortgage, Inc. acquires ARM assets from investment banking firms, broker-dealers, mortgage bankers, mortgage brokerage firms, banks, savings and loan institutions, credit unions, home builders, and other entities involved in originating, securitizing, packaging, and selling mortgage-backed securities and mortgage loans. It operates as an externally advised real estate investment trust (REIT). As a REIT, the company would not be subject to federal corporate income tax, provided it distributes at least 90% of taxable income to its shareholders. Thornburg Mortgage, Inc. was founded in 1992 and is based in Santa Fe, New Mexico. On May 1, 2009, Thornburg Mortgage Inc., along with its affiliates, filed a voluntary petition for reorganization under Chapter 11 in the US Bankruptcy Court for the District of Maryland, Baltimore.www.thornburgmortgage.com
400 Employees
Founded in 1992
Thornburg Mortgage Inc (THMRM:OTC)
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THMRM Top Compensated Officers
No compensation data is available at this time for the top officers at this company.
Executives, Board Directors
Key developments for Thornburg Mortgage Inc (THMRM)
Thornburg Mortgage Inc. Announces Board and Management Changes
09/16/2009
Ike Kalangis resigned as a director of TMST Inc., formerly known as Thornburg Mortgage Inc., effective September 10, 2009. Larry A. Goldstone, the company's President and Chief Executive Officer, the company's principal executive officer, and a director of the company, resigned from each of his positions as an officer and director of the company, effective September 15, 2009. Clarence G. Simmons, III, the company's Senior Executive Vice President, Chief Financial Officer and Secretary, and the company's principal financial officer and principal accounting officer, resigned from each of his positions as an officer of the company, effective September 15, 2009. The Board appointed Anne-Drue M. Anderson as President and Treasurer of the company, effective September 15, 2009. Ms. Anderson will serve as the principal executive officer, principal financial officer and principal accounting officer of the company. Ms. Anderson will remain a director of the company, but will no longer be entitled to any compensation as a non-employee director. Ms. Anderson has been a director of the company since December 2003 and a member of the audit committee of the Board since 2004.
Thornburg Mortgage Inc. Files Articles of Amendment with the State Department of Assessments and Taxation of Maryland to Change the Company's Name
08/12/2009
Thornburg Mortgage Inc. announced that on August 7, 2009, the company filed Articles of Amendment with the State Department of Assessments and Taxation of Maryland to change the Company's name to TMST Inc. Under the Amended and Restated Management Agreement dated as of January 16, 2009, and deemed effective April 30, 2008, Thornburg Mortgage Advisory Corporation has the right to request the Company to cease use of the name 'Thornburg' and to legally change the name of the Company to a name that does not include 'Thornburg' or any approximation thereof. Following the receipt of such a request from TMAC, the Company filed a motion with the United States Bankruptcy Court for the District of Maryland seeking approval to change its name. Such motion was granted by the Bankruptcy Court on July 27, 2009, and the name change became effective upon the acceptance for record of the Articles of Amendment by the State Department of Assessments and Taxation of Maryland.
Thornburg’s Creditors Seek To Block Adfitech Sale; Eight Potential Bidders Identified
07/30/2009
Thornburg Mortgage Inc’s creditors have asked a court to block the sale of Adfitech Inc, according to court documents. The creditors want Adfitech to be transferred to their ownership. Thornburg Mortgage has plans to sell Adfitech. On July 29, 2009 the official committee of unsecured creditors filed an emergency request with the bankruptcy court to stop that sale. The court document stated that the creditors instead have informed Thornburg they want to negotiate a reorganization plan that would transfer ownership of Adfitech to them. According to court documents Thornburg's investment bankers, Houlihan Lokey Howard & Zukin Capital Inc had identified eight potential bidders for Adfitech.
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More Recent News About Thornburg Mortgage Inc
More news for THMRM
TMST, INC. Files SEC form 8-K, Other Events
Show all filings for TMST, INC. | Request a Trial to NEW EDGAR Online Pro Form 8-K for TMST, INC. 30-Oct-2009Other Events Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice...Click here to read the whole Article (external link)
TMST, INC. Files SEC form 8-K, Change in Directors or Principal Officers, Other Events
Show all filings for TMST, INC. | Request a Trial to NEW EDGAR Online Pro Form 8-K for TMST, INC. 26-Oct-2009Change in Directors or Principal Officers, Other Events Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes o...Click here to read the whole Article (external link)
TMST, INC. Files SEC form 8-K, Regulation FD Disclosure, Other Events, Financial Statements and Exhibits
Item 7.01. Regulation FD Disclosure. On May 1, 2009, TMST, Inc., a Maryland corporation formerly known as Thornburg Mortgage, Inc. (the "Company"), together with certain of its wholly-owned direct and indirect subsidiaries, ADFITECH, Inc., a Nevada corporation ("ADFITECH"), TMST Acquisition Subsidiary, Inc., a Delaware corporation formerly known as Thornburg Acquisition Subsidiary, Inc., TMST Home Loans, Inc., a Delaware corporation formerly known as Thornburg Mortgage Home Loans, Inc., and TMST Hedging Strategies, Inc., a Delaware corporation formerly known as Thornburg Mortgage Hedging Strategies, Inc. (collectively, the "Debtors"), filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code (the "Bankruptcy Code") in the United States Bankruptcy Court for the District of Maryland (the "Bankruptcy Court"), under case numbers 09-17787, 09-17788, 09-17790, 09-17791 and 09-17792, respectively. The Chapter 11 cases are being jointly administered by the Bankruptcy Court as Case No. 09-17787 (the "Bankruptcy Cases"). Additional information concerning the Bankruptcy Cases may be obtained through the Bankruptcy Court or at http://chapter11.epiqsystems.com/tmstinc. The provisions of the Bankruptcy Code require the Debtors to file monthly operating reports with the Bankruptcy Court during the Bankruptcy Cases. On October 19, 2009, the Company filed on behalf of the Debtors, except for ADFITECH, a report covering the period from September 1, 2009 through September 30, 2009 (the "Company Monthly Operating Report"), attached as Exhibit 99.1 hereto and incorporated herein by reference. Also on October 19, 2009, ADFITECH filed a report covering the period from September 1, 2009 through September 30, 2009 (the "ADFITECH Monthly Operating Report" and, together with the Company Monthly Operating Report, the "Monthly Operating Reports"), attached as Exhibit 99.2 hereto and incorporated...Click here to read the whole Article (external link)
TMST, INC. Files SEC form 8-K, Change in Directors or Principal Officers, Other Events
Show all filings for TMST, INC. | Request a Trial to NEW EDGAR Online Pro Form 8-K for TMST, INC. 5-Oct-2009Change in Directors or Principal Officers, Other Events Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes on...Click here to read the whole Article (external link)
TMST, INC. Financials
Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback Quotes delayed, except where indicated otherwise.Delay times are 15 mins for NASDAQ, 20 mins for NYSE and Amex. See also delay times for other exchanges.Fundamental company data provided by Capital IQ. Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quotes are delayed at least 15 minutes. Real-...Click here to read the whole Article (external link)
TMST, INC. Files SEC form 8-K, Change in Directors or Principal Officers, Regulation FD Disclosure, Financial Stateme
Item 7.01. Regulation FD Disclosure. On May 1, 2009, the Company, together with certain of its wholly-owned direct and indirect subsidiaries, ADFITECH, Inc., a Nevada corporation ("ADFITECH"), TMST Acquisition Subsidiary, Inc., a Delaware corporation formerly known as Thornburg Acquisition Subsidiary, Inc., TMST Home Loans, Inc., a Delaware corporation formerly known as Thornburg Mortgage Home Loans, Inc. and TMST Hedging Strategies, Inc., a Delaware corporation formerly known as Thornburg Mortgage Hedging Strategies, Inc. (collectively, the "Debtors"), filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code (the "Bankruptcy Code") in the United States Bankruptcy Court for the District of Maryland (the "Bankruptcy Court"), under case numbers 09-17787, 09-17788, 09-17790, 09-17791 and 09-17792, respectively. The Chapter 11 cases are being jointly administered by the Bankruptcy Court as Case No. 09-17787 (the "Bankruptcy Cases"). Additional information concerning the Bankruptcy Cases may be obtained through the Bankruptcy Court or at http://chapter11.epiqsystems.com/tmstinc. The provisions of the Bankruptcy Code require the Debtors to file monthly operating reports with the Bankruptcy Court during the Bankruptcy Cases. On September 29, 2009, the Company filed on behalf of the Debtors, except for ADFITECH, an amended report covering the period from August 1, 2009 through August 31, 2009 (the "Company Monthly Operating Report"), attached as Exhibit 99.1 hereto and incorporated herein by reference. Also on September 23, 2009, ADFITECH filed a report covering the period from August 1, 2009 through August 31, 2009 (the "ADFITECH Monthly Operating Report" and together with the Company Monthly Operating Report, the "Monthly Operating Reports"), attached as Exhibit 99.2 hereto and incorporated herein by reference. Certain attachments to the Monthly Operating Reports as filed with the B...Click here to read the whole Article (external link)
TMST, INC. Files SEC form 8-K, Change in Directors or Principal Officers, Regulation FD Disclosure
Item 5.02. Departure of Directors and Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (b) Ike Kalangis resigned as a director of TMST, Inc., a Maryland corporation, formerly known as Thornburg Mortgage, Inc. (the "Company"), effective September 10, 2009. Larry A. Goldstone, the Company's President and Chief Executive Officer, the Company's principal executive officer, and a director of the Company, resigned from each of his positions as an officer and director of the Company, effective September 15, 2009. Clarence G. Simmons, III, the Company's Senior Executive Vice President, Chief Financial Officer and Secretary, and the Company's principal financial officer and principal accounting officer, resigned from each of his positions as an officer of the Company, effective September 15, 2009. Mr. Goldstone's and Mr. Simmons' resignations arose as a result of a disagreement between them and the Company with respect to policies concerning the allocation and use of resources, including employees, between the Company and a new company founded by Messrs. Goldstone and Simmons, SAF Financial, Inc. The Company's Board of Directors (the "Board") has determined that the policies implemented by Messrs. Goldstone and Simmons were not appropriate, and the Board has taken steps to abolish those policies, including implementing management changes. (c) The Board appointed Anne-Drue M. Anderson as President and Treasurer of the Company, effective September 15, 2009. Ms. Anderson will serve as the principal executive officer, principal financial officer and principal accounting officer of the Company. Ms. Anderson will be compensated for these services in an amount to be determined and approved by the Board. The Board's current expectation is that her commitment will exceed 40 hours per week during this initial transition period, with the expectation that Ms. Anderson's time commitment will be reduc...Click here to read the whole Article (external link)
TMST, INC. Financials
PERIOD ENDING30-Sep-0830-Jun-0831-Mar-0831-Dec-07Total Revenue831,456 512,223 536,643 523,155 Cost of Revenue(12,003)12,003 - - Gross Profit843,459 500,220 536,643 523,155 Operating ExpensesResearch Development - - - - Selling General and Administrative44,867 8,654 9,303 13,993 Non Recurring(2,984,193)2,973,697 - (4,024)Others3,224,458 (3,348,584)3,341,528 681,299 Total Operating Expenses - - - - Operating Income or Loss558,327 866,453 (2,814,188)(168,113)Income from Continuing OperationsTotal Other Income/Expenses Net - - - (195,412)Earnings Before Interest And Taxes558,327 866,453 (2,814,188)(363,525)Interest Expense418,570 456,036 491,076 237,370 Income Before Tax139,757 410,417 (3,305,264)(600,895)Income Tax Expense(290)(1,894)1,170 5,000 Minority Interest - - - - Net Income From Continuing Ops140,047 412,311 (3,306,434)(605,895)Non-recurring EventsDiscontinued Operations - - - - Extraordinary Items - - - - Effect Of Accounting Changes - ...Click here to read the whole Article (external link)
TMST, INC. Files SEC form 8-K, Regulation FD Disclosure, Financial Statements and Exhibits
Item 7.01. Regulation FD Disclosure. On May 1, 2009, TMST, Inc., a Maryland corporation, formerly known as Thornburg Mortgage, Inc. (the "Company"), together with certain of its wholly-owned direct and indirect subsidiaries, ADFITECH, Inc., a Nevada corporation ("ADFITECH"), TMST Acquisition Subsidiary, Inc., a Delaware corporation formerly known as Thornburg Acquisition Subsidiary, Inc., TMST Home Loans, Inc., a Delaware corporation formerly known as Thornburg Mortgage Home Loans, Inc. and TMST Hedging Strategies, Inc., a Delaware corporation formerly known as Thornburg Mortgage Hedging Strategies, Inc. (collectively, the "Debtors"), filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code (the "Bankruptcy Code") in the United States Bankruptcy Court for the District of Maryland (the "Bankruptcy Court"), under case numbers 09-17787, 09-17788, 09-17790, 09-17791 and 09-17792, respectively. The Chapter 11 cases are being jointly administered by the Bankruptcy Court as Case No. 09-17787 (the "Bankruptcy Cases"). Additional information concerning the Bankruptcy Cases may be obtained through the Bankruptcy Court or at http://chapter11.epiqsystems.com/tmstinc. The provisions of the Bankruptcy Code require the Debtors to file monthly operating reports with the Bankruptcy Court during the Bankruptcy Cases. On August 27, 2009, ADFITECH filed a report covering the period from July 1, 2009 through July 31, 2009 (the "Monthly Operating Report"), attached as Exhibit 99.1 hereto and incorporated herein by reference. Certain attachments to the Monthly Operating Report as filed with the Bankruptcy Court have been omitted from the Exhibit attached hereto. A complete copy of the Monthly Operating Report may be found through the Bankruptcy Court or at http://chapter11.epiqsystems.com/tmstinc. As previously announced, it is not expected that there will be any distribution to the Company's equity hold...Click here to read the whole Article (external link)
TMST, INC. Files SEC form 8-K, Regulation FD Disclosure, Financial Statements and Exhibits
Item 7.01. Regulation FD Disclosure. On May 1, 2009, TMST, Inc., a Maryland corporation, formerly known as Thornburg Mortgage, Inc. (the "Company"), together with certain of its wholly-owned direct and indirect subsidiaries, ADFITECH, Inc., a Nevada corporation ("ADFITECH"), TMST Acquisition Subsidiary, Inc., a Delaware corporation formerly known as Thornburg Acquisition Subsidiary, Inc., TMST Home Loans, Inc., a Delaware corporation formerly known as Thornburg Mortgage Home Loans, Inc. and TMST Hedging Strategies, Inc., a Delaware corporation formerly known as Thornburg Mortgage Hedging Strategies, Inc. (collectively, the "Debtors"), filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code (the "Bankruptcy Code") in the United States Bankruptcy Court for the District of Maryland (the "Bankruptcy Court"), under case numbers 09-17787, 09-17788, 09-17790, 09-17791 and 09-17792, respectively. The Chapter 11 cases are being jointly administered by the Bankruptcy Court as Case No. 09-17787 (the "Bankruptcy Cases"). Additional information concerning the Bankruptcy Cases may be obtained through the Bankruptcy Court or at http://chapter11.epiqsystems.com/tmstinc. The provisions of the Bankruptcy Code require the Debtors to file monthly operating reports with the Bankruptcy Court during the Bankruptcy Cases. On August 20, 2009, the Company filed on behalf of the Debtors, except for ADFITECH, a report covering the period from July 1, 2009 through July 31, 2009 (the "Monthly Operating Report"), attached as Exhibit 99.1 hereto and incorporated herein by reference. Certain attachments to the Monthly Operating Report as filed with the Bankruptcy Court have been omitted from the Exhibit attached hereto. A complete copy of the Monthly Operating Report may be found through the Bankruptcy Court or at http://chapter11.epiqsystems.com/tmstinc. As previously announced, it is not expected that there wil...Click here to read the whole Article (external link)
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