Thornburg loses $1B on mortgage woes
Story date: 2007-10-17 05:48:00
Added on: 2007-10-17 09:00:11
CNN Money - Typically, mortgage lenders rely on secondary markets to sell current loans to fund future mortgages. With investors avoiding jumbo loans, Thornburg Mortgage was forced to slash the price on its loans just to sell them. The company decided not to pay ...
Read more...
Related Stories:
-
Thornburg Mortgage swings to 4Q profit
CNBC - Thornburg Mortgage makes jumbo loans _ mortgages larger than the $417,000 cap at which government-sponsored entities Fannie Mae and Freddie...
2008-02-04 03:52:00 -
Thornburg May Sell Securities to Meet Margin Calls (Update2)
Bloomberg - Thornburg, which specializes in adjustable-rate loans of $417,000 or more, was one of more than 100 mortgage companies that halted...
2008-02-28 06:48:00 -
Thornburg CEO Says Don't Fret
Forbes - Home Business Tech Markets Entrepreneurs Leadership Personal Finance ForbesLife Lists ... Thornburg Mortgage 's chief is coming out of the...
2008-02-28 01:43:00 -
IndyMac sees possible loss in 3Q
BusinessWeek - Mortgage lenders rely on secondary markets to either sell mortgages or borrow money to make future loans. Without the funding...
2007-09-07 12:19:00 -
Countrywide Takes Off
Street.Com - Countrywide borrowed from a group of 40 banks after it was unable to sell mortgage loans into secondary markets to...
2007-08-23 11:30:00 -
Rainwater's 'Single Worst Investment'
BusinessWeek - Founded in 1993 by the current chairman, Garrett Thornburg , the company specializes in making "jumbo" single-family home ... On...
2008-03-14 07:52:00 -
Thornburg Mortgage future in doubt
CNN Money - SANTA FE, N.M. (AP) -- Thornburg Mortgage Inc. said Friday it does not have enough cash to cover current...
2008-03-07 12:44:00 -
Washington Mutual 3Q earnings to tumble
Boston Globe - Mortgage lenders often rely on secondary markets to sell mortgages in order to fund new lending. Without investors willing...
2007-10-05 06:02:00