Archive for March, 2008
After a brief break from writing about the mortgage industry the team at Mortgage Blues has studied end of the year financial reports and the news is not good. One lender that stands out is Thornburg. These guys liked California, Arizona and other areas that required jumbo mortgages. JPMorgan issued Thornburg with a “default notice” after the lender was unable to meet a $28 million margin call, which the bank demanded after a significant decline in the value of its assets.