Thornburg Mortgage Inc., Santa Fe, N.M., has reported net income (before preferred stock dividends) of $75.3 million ($0.64 per share) for the third quarter, compared with $74.0 million ($0.70 per share) a year earlier.Thornburg said it originated $1.4 billion in mortgage loans during the quarter, up 10% from the level recorded a year earlier. "In the third quarter, our earnings benefited from new asset acquisitions financed with collateralized debt obligations, gains in our hedged mortgage loan commitments, slowing portfolio prepayment rates, and the additional utilization of some of our excess capital," said Larry Goldstone, Thornburg's president and chief operating officer. Thornburg Mortgage, a real estate investment trust that focuses mainly on the jumbo segment of the adjustable-rate mortgage market, can be found online at http://www.thornburg.com.
Thornburg Reports 3Q Profits
Published October 17, 2006, 2:00 p.m. EDT
1 Min Read
