Thornburg Mortgage Inc, a specialist in jumbo home loans that nearly went bankrupt in March, posted a $3.31 billion first-quarter loss on Thursday as the value of mortgages and other securities it owns plummeted.
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Thornburg Mortgage posts $3.31 billion loss
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US home foreclosures drop
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Mortgage lending fell by 14% in April
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Housing finance falls in March
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Frontline banking stocks battered
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Borrowers switch to tracker mortgages
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Hard-money lenders capitalize on distress
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Marsh & McLennan loses $210 million
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Lend Lease expects profits to fall
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Fannie Mae lost $13.1 billion in first quarter