Although Single-family residential mortgage lender Thornburg Mortgage Inc. reported net income before preferred stock dividends of $64.8 million for the fourth quarter of 2007, down 19% from the $80.3 million for the same period the year prior, the company¹s credit quality originated and bulk purchased loans has remained exceptional. At December 31, 2007, 60-day plus delinquent loans and real-estate owned properties in the company¹s originated and bulk purchased loans totaled 0.44% of its $24.6 billion portfolio of securitized and unsecuritized loans, up from 0.27% at September 30, 2007, but still significantly below the industry's conventional prime ARM loan delinquency ratio of 4.23% at September 30, 2007.
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