The latest reminder of the trouble sparking the credit crunch now roiling the markets came from Thornburg Mortgage Inc. (TMA:TMA
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TMA, , ) , which said it sold a "substantial" part of its triple-A-rated mortgage securities portfolio.
Thornburg, a residential-mortgage lender focused on jumbo adjustable-rate loans, will report a third-quarter capital loss of about $930 million as a result of the mortgage-securities sales, the company said in a statement. Thornburg's stock fell 12%.
Stunted growth?
mooooving monday, page-133
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