A package of servicing rights on more than $10 billion of jumbo loans belonging to the now defunct Thornburg Mortgage Inc. of Santa Fe, N.M., is expected to hit the market during the next few weeks, according to investment banking sources.
An official working on the bankruptcy said he could not comment at this time and referred inquiries to Thornburg's bankruptcy counsel in Maryland, which did not respond by press time.
Once a publicly traded real estate investment trust, Thornburg filed for Chapter 11 bankruptcy protection in May. Its bondholders are now in charge of its operations. The company's name has been changed to TMST Inc.