Thornburg Impairment Charge Hits $676M

The impairment charge being taken by Thornburg Mortgage in its 2007 restatement has increased by $248.8 million from original estimates to a total of $676.6 million, according to the company's amended annual report filed with the Securities and Exchange Commission. The company said it has restated its earnings because margin calls that could be "material" might jeopardize its ability to hold certain of its securitized adjustable-rate mortgages to maturity. Thornburg can be found online at http://www.thornburgmortgage.com.

Processing Content

For reprint and licensing requests for this article, click here.
Servicing
MORE FROM NATIONAL MORTGAGE NEWS
Load More