Bankrupt lender Thornburg Mortgage - one of the biggest casualties of the subprime housing...

|By:, SA News Editor

Bankrupt lender Thornburg Mortgage - one of the biggest casualties of the subprime housing crisis - is seeking approval to sell its $11B mortgage servicing portfolio to a unit of Credit Suisse (CS), winner of a sealed-bid auction that drew wide interest. PennyMac (PMT) is the back-up bidder. (previously)