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Thornburg Mortgage bucked the trend in the industry during the first quarter, actually originating more home loans this year than the firm did in the first quarter of 2003.
Thornburg originated $909 million in mortgages during the first quarter, 5% more than the firm did a year ago. The company's loan servicing portfolio grew 14% from a year earlier to $5.4 billion, representing 11,662 loans.
And that helped the mortgage REIT, a specialist in jumbo, adjustable-rate mortgage lending, post record net income for the 12th consecutive quarter.
Thornburg Mortgage reported net income of...