Article Excerpt:
TWST: What is Thornburg Mortgage?Mr. Goldstone: Thornburg Mortgage is a single-family residential mortgage lender. We participate in the mortgage finance and mortgage lending business. We are one of the 20th largest correspondent lending companies in the United States and have grown our balance sheet to a little over $40 billion in assets. We are a public company; we are listed on the New York Stock Exchange (ticker symbol: TMA). We have been a public company since our inception in 1993. So we've been in the public domain and operating as a mortgage lender for the last 13 years.
TWST: We know that mortgage rates are still good and the mortgage
environment is still active. What do you see from your perspective?
Mr. Goldstone: I do think that the media have gotten a lot of mileage
out of the negative angle on real estate and the housing finance market.
But at the end of the day, if you step back from the fray a little bit,
the underlying fundamentals continue to be pretty good. Home ownership
is a desirable place to be in the United States from an economic and
investment perspective. People choose to own and live in their own
homes. Interest rates are relatively low, certainly given the history of
the last 15 or 20 years. So the opportunity to own and to gain access to
credit to finance that home has never been any better. In fact, the
mortgage industry over the last five years has been very innovative and
I think we have been one of the leaders in innovation ' coming up with
the new products in different ways to help homeowners effectively own
and finance their homes.
Tickers included in this excerpt: TMA
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