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Article: Zacks Equity Research Initiates Coverage on Thornburg Mortgage.
- Article from:
- National Mortgage News
- Article date:
- October 30, 2006
- Author:
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SANTA FE, NM -- After Thornburg Mortgage here posted lackluster earnings for its third quarter, Zacks Equity Research, a Chicago-based research firm specializing in stock market data, has initiated coverage on Thornburg Mortgage with a "hold" rating.
Thornburg Mortgage reported increases in origination as well as loan closing for the third quarter, although reported a decline in net income on a year-over-year basis.
According to a report written by Zacks analyst Greg Sukenik, Thornburg Mortgage's weak quarter was due in part to intensified competition and a still-flat yield curve suppressed margins. Mr. Sukenik's report asserts that it is still a very ...