Thornburg Mortgage Reduces Sales and Support Staff
30 Septembre 2008 - 7:30PM
Business Wire
Thornburg Mortgage, Inc. (NYSE: TMA), announced that the company
has reduced its staff by 29 sales and support positions in its home
lending division in response to the continued unprecedented turmoil
in the mortgage financing and credit markets that has shaken the
industry for more than a year. �This was a difficult but necessary
decision we were forced to make as we adjust our operations to
navigate through this environment,� said Thornburg Mortgage
President and Chief Executive Officer Larry Goldstone. �With a
finance and credit market that has seen major financial
institutions collapsing over the last few weeks, Thornburg Mortgage
has had to meet a series of difficult challenges that few could
have predicted.� �Today�s announcement is in no way a reflection on
the ability of these individuals; rather, it is a sign of just how
prolonged and extensive the mortgage crisis has become,� Mr.
Goldstone added. �In fact, Thornburg Mortgage employees are
recognized industry-wide for their talent and passion for bringing
the very best to the job. Our focus now is to ensure the company�s
long-term survival so we can remain the lender of choice among
borrowers with superior credit histories.� Of the 29 positions
eliminated, approximately half were located in Santa Fe, the other
half were located throughout the country. Thornburg Mortgage now
employs approximately 156 professionals in its Santa Fe-based
operations. Thornburg Mortgage is a leading single-family
residential mortgage lender focused principally on prime and
super-prime borrowers seeking jumbo and super-jumbo adjustable-rate
mortgages.
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