| | Business Summary | | Thornburg
Mortgage,
Inc.
is
a
mortgage
acquisition
company
that
primarily
invests
in
adjustable-rate
mortgage
(ARM)
assets
comprised
of
ARM
securities
and
ARM
loans,
thereby
providing
capital
to
the
single-family
residential
housing
market.
ARM
securities
represent
interests
in
pools
of
ARM
loans,
which
often
include
guarantees
or
other
credit
enhancements
against
losses
from
loan
defaults.
The
Company
leverages
its
equity
capital
using
borrowed
funds,
invests
in
ARM
assets
and
seeks
to
generate
income
based
on
the
difference
between
the
yield
on
its
ARM
assets
portfolio
and
the
cost
of
its
borrowings. | | More
from
Market Guide: Expanded
Business Description |
| | Financial Summary | | Thornburg
Mortgage,
Inc.,
is
a
mortgage
acquisition
company
that
invests
in
adjustable
rate
mortgage
securities,
thereby
providing
capital
to
the
single-family
housing
market.
For
the
six
months
ended
6/30/01,
revenues
fell
3%
to
$140.9
million.
Earnings
applicable
to
Common
before
acct.
chang
rose
73%
to
$19.2
million.
Revenues
reflect
a
decreased
average
ARM
portfolio
yield.
Earnings
benefited
from
reduced
financing
costs
resulting
in
higher
average
porfolio
margins. | | More
from
Market Guide: Significant
Developments |
| | | | Exer | |
| Garrett Thornburg, Jr., 55
Chairman,
CEO | -- | Larry Goldstone, 46
Pres,
COO | $1.6K | Richard Story, 48
CFO
and Treasurer | 1.0K | | Dollar amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Exer" is the value of options excercised during the fiscal year. |
| More
from
Market Guide on Officers & Directors:
Expanded
List, Bios,
Compensation,
Options
|
|
![[one-year price graph]](http://chart.yahoo.com/c/0b/t/tma.gif)