Thornburg Mortgage Inc.
Thornburg Mortgage, Inc. is a single-family residential
mortgage lender that originates, acquires and retains investments in adjustable
and variable-rate mortgage (ARM) assets, thereby providing capital to the
single-family residential housing market.
The Company's ARM assets consist of traditional ARM securities and loans, which
have interest rates that reprice in a year or less, and hybrid ARM securities
and loans, which have a fixed interest rate for an initial period of three to 10
years before converting to Traditional ARMs for their remaining terms to
maturity. ARM securities represent interests in pools of ARM loans, which are
publicly rated and include guarantees or other third-party credit enhancements
against losses from loan defaults.
Thornburg is an externally advised real estate investment trust and is managed
by Thornburg Mortgage Advisory Corporation.
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2010
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