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’Thornburg Mortgage will (finally) file for bankruptcy
Unless this a decidedly poor April Fool’s joke, Thornburg Mortgage has finally thrown in the towel.
The jumbo-mortgage lender said on Tuesday it would sell all remaining assets and cease operations,
Thornburg Mortgage may file for bankruptcy
Thornburg Mortgage, a provider of big mortgages on expensive properties that was badly wounded by the implosion of its funding model, may be about to give up the ghost.
The lender said on Tuesday it was considering filing for Chapter 11 bankruptcy protection after more than 18 months of liquidity problems,
Thornburg defaults: repos what it sowed
US mortgage lender Thornburg has filed a material default notice with the SEC.
Thornburg’s share price crashed on Tuesday after speculation over margin calls hit the press.
The lender defaulted on a reverse repurchase agreement with JPMorgan on 28th February,
… And hits Capital One and Thornburg
The US mortgage meltdown spread further on Monday as two big lenders announced expected losses of a combined $1.8bn. Capital One Financial, one of the largest US credit card providers, said it would close its wholesale home lending unit,
ECB chief fails to reassure markets
Renewed turmoil in global money markets sent stock prices falling around the world on Tuesday and in Asia on Wednesday as investors ignored a declaration by Jean-Claude Trichet, ECB president, that conditions were returning to normal.