Thornburg to Begin Originating in NY, DC

Thornburg Mortgage Home Loans Inc., the mortgage lending subsidiary of Thornburg Mortgage Inc., Santa Fe, N.M., has announced that it will begin originating single-family residential mortgages in New York State and the District of Columbia.Furthermore, TMHL has received approval to lend in New Hampshire, Hawaii, and Washington and should start originating in those states by Oct. 1, the company said. "The New York City area in particular is compelling," said Joseph Bedal, TMHL's chief executive officer. "With the median existing-home price in New York City of $350,900, it's essentially a market comprised of jumbo loans, which is our primary lending focus." In addition, Thornburg is now accepting mortgage loans from correspondent lenders on properties vested in limited liability corporations and trusts. LLCs and trusts are used by consumers for tax and estate planning purposes, the company explained.