Thornburg’s Thorny Issue

Thornburg Mortgage (TMA) told us their customers maintain high credit quality with extremely low default rates. So why are they a victim of the credit crunch? Because credit is only part of the problem. The other is the current value of their customers’ collateral. As real estate values decline, almost no mortgages are secure. Prime mortgages can’t be prime without good collateral.

1 comment:

Anonymous said...


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Anyway, hello and thanks for your interesting blog.