FreedomWide- DEBT CONSOLIDATION, LOWER MONTHLY PAYMENTS, CONSOLIDATE DEBT

SANTA FE, N.M. -

Mortgage lender and investor Thornburg Mortgage Inc. said Tuesday it will raise $1.35 billion through a private-placement deal to help keep the company in business and avoid bankruptcy.

“Going forward, it gives Thornburg a bit of working capital, but the model of business is still under pressure,” said Bose George, an analyst at Keefe, Bruyette & Woods Inc.

The capital raising efforts, coupled with recent Federal Reserve actions to help improve liquidity in the credit markets, could provide some stability to Thornburg, George said. But those benefits could be offset by the company’s corporate structure as a real estate investment trust and continued weakness in the mortgage securities market, he added.
Read Full Article

Tags: mortgage lenders, Thornburg Mortgage

This entry was posted on Tuesday, March 25th, 2008 at 5:13 pm and is filed under Mortgage Lender & Broker News, Mortgage News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.