Comments on: Thornburg on its last legs? http://blownmortgage.com/2008/08/27/thornburg-on-its-last-legs/ #1 Free Home Loan Modification & Debt Relief Help For US Home Owners - Truths, Facts & News About the Mortgage Industry Mon, 09 Nov 2009 22:42:54 -0700 http://wordpress.org/?v=2.8.3 hourly 1 By: Fielding Mellish http://blownmortgage.com/2008/08/27/thornburg-on-its-last-legs/comment-page-1/#comment-12789 Fielding Mellish Thu, 28 Aug 2008 14:32:22 +0000 http://blownmortgage.com/?p=1245#comment-12789 Thornburg did, indeed, operate with sound underwriting. They only seemingly created a profitable niche. I'm not saying I could have done better or that I even understand how they obtained the money they lent out. It's clear in retrospect, though, that they didn't adequately move risk off of their books onto someone else's when their servicing portfolio could be virtually without defaults and they were still taken down by "mark-to-market". <br><br>Their ongoing operations have been a mere shell for many months. The rates they're offering are well into the double digits, so obviously they're not doing any new business whatsoever. Continuing the ruse of putting out daily ratesheets must be part of attempt to buffalo ignorant young stock & bond analysts into thinking that there might be a remote chance that Thornburg could survive. They can't. If their share price fell to 4 cents, I'd still sell. Thornburg did, indeed, operate with sound underwriting. They only seemingly created a profitable niche. I'm not saying I could have done better or that I even understand how they obtained the money they lent out. It's clear in retrospect, though, that they didn't adequately move risk off of their books onto someone else's when their servicing portfolio could be virtually without defaults and they were still taken down by “mark-to-market”.

Their ongoing operations have been a mere shell for many months. The rates they're offering are well into the double digits, so obviously they're not doing any new business whatsoever. Continuing the ruse of putting out daily ratesheets must be part of attempt to buffalo ignorant young stock & bond analysts into thinking that there might be a remote chance that Thornburg could survive. They can't. If their share price fell to 4 cents, I'd still sell.

]]> By: Fielding Mellish http://blownmortgage.com/2008/08/27/thornburg-on-its-last-legs/comment-page-1/#comment-72082 Fielding Mellish Thu, 28 Aug 2008 14:32:22 +0000 http://blownmortgage.com/?p=1245#comment-72082 Thornburg did, indeed, operate with sound underwriting. They only seemingly created a profitable niche. I'm not saying I could have done better or that I even understand how they obtained the money they lent out. It's clear in retrospect, though, that they didn't adequately move risk off of their books onto someone else's when their servicing portfolio could be virtually without defaults and they were still taken down by "mark-to-market". <br><br>Their ongoing operations have been a mere shell for many months. The rates they're offering are well into the double digits, so obviously they're not doing any new business whatsoever. Continuing the ruse of putting out daily ratesheets must be part of attempt to buffalo ignorant young stock & bond analysts into thinking that there might be a remote chance that Thornburg could survive. They can't. If their share price fell to 4 cents, I'd still sell. Thornburg did, indeed, operate with sound underwriting. They only seemingly created a profitable niche. I'm not saying I could have done better or that I even understand how they obtained the money they lent out. It's clear in retrospect, though, that they didn't adequately move risk off of their books onto someone else's when their servicing portfolio could be virtually without defaults and they were still taken down by “mark-to-market”.

Their ongoing operations have been a mere shell for many months. The rates they're offering are well into the double digits, so obviously they're not doing any new business whatsoever. Continuing the ruse of putting out daily ratesheets must be part of attempt to buffalo ignorant young stock & bond analysts into thinking that there might be a remote chance that Thornburg could survive. They can't. If their share price fell to 4 cents, I'd still sell.

]]> By: jlewis44 http://blownmortgage.com/2008/08/27/thornburg-on-its-last-legs/comment-page-1/#comment-12788 jlewis44 Wed, 27 Aug 2008 18:52:42 +0000 http://blownmortgage.com/?p=1245#comment-12788 This is one of the truly sad stories in all of this mess. These guys cultivated a profitable niche, operated with sound underwriting guidelines and are still going down. This one is throwing out the baby with the bath water because companies like Thornburg deserve a place in this industry. <br><br>Hopefully their major players can reorganize and make a comeback once the capital flows resurface in a few years. This is one of the truly sad stories in all of this mess. These guys cultivated a profitable niche, operated with sound underwriting guidelines and are still going down. This one is throwing out the baby with the bath water because companies like Thornburg deserve a place in this industry.

Hopefully their major players can reorganize and make a comeback once the capital flows resurface in a few years.

]]> By: jlewis44 http://blownmortgage.com/2008/08/27/thornburg-on-its-last-legs/comment-page-1/#comment-72081 jlewis44 Wed, 27 Aug 2008 18:52:42 +0000 http://blownmortgage.com/?p=1245#comment-72081 This is one of the truly sad stories in all of this mess. These guys cultivated a profitable niche, operated with sound underwriting guidelines and are still going down. This one is throwing out the baby with the bath water because companies like Thornburg deserve a place in this industry. <br><br>Hopefully their major players can reorganize and make a comeback once the capital flows resurface in a few years. This is one of the truly sad stories in all of this mess. These guys cultivated a profitable niche, operated with sound underwriting guidelines and are still going down. This one is throwing out the baby with the bath water because companies like Thornburg deserve a place in this industry.

Hopefully their major players can reorganize and make a comeback once the capital flows resurface in a few years.

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