Thornburg Mortgage (TMA): We're Still On Brink of Bankruptcy

Thornburg Mortgage, a residential mortgage lending company that caters to rich people, says the survival of its mortgage finance business model is still “in doubt.” (WSJ)

Another struggling mortgage lender wouldn’t normally be noteworthy, but Thornburg’s woes are iimportant because the firm specialises in lending to wealthy borrowers and have largely steered clear of subprime exotica. If a lender like Thornburg can’t make it, who can?

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