Larry Goldstone, once a top player in jumbo lending through his now-defunct Thornburg Mortgage, is attempting a comeback.
Goldstone's Aventur Mortgage Capital is raising funds to develop a jumbo lending platform with an eye toward securitization, according to the website of his venture capital firm, Aventur Partners.
Almost two years ago, Thornburg, based in Santa Fe, N.M., filed for bankruptcy protection. Though the firm initially boasted low delinquencies on its loans, that changed in late 2009 as housing market conditions worsened. Eventually, Thornburg's bankers pulled out and the firm was forced to liquidate.
In late 2009, the trustee liquidating Thornburg sued Goldstone and another former top officer, seeking the return of documents, after learning they might have misused company resources to launch a startup.
A few months later, the trustee sued Goldstone and three former officers, saying they improperly paid themselves handsome bonuses just before the lender filed for bankruptcy protection. The charges were denied.