Thornburg Mortgage Inc., Santa Fe, N.M., has announced the completion of a collateralized mortgage debt transaction collateralized by $1.44 billion of its prime hybrid adjustable-rate mortgage loans.The proceeds of the transaction, Thornburg Mortgage Securities Trust 2007-4, were used to reduce the company's borrowings under its ARM loan warehouse lines by approximately $1.37 billion, Thornburg said. The company said it recently resumed funding loans in its pipeline and that the warehouse capacity created by the transaction will enable it to increase the pace of its mortgage funding. Thornburg said it expects to increase the use of collateralized mortgage debt financings and reduce its reliance on reverse repurchase financing. The company can be found online at http://www.thornburg.com.

Subscribe Now

Authoritative analysis and perspective for every segment of the mortgage industry

30-Day Free Trial

Authoritative analysis and perspective for every segment of the mortgage industry