bemink

Why I am Selling Thornburg Mortgage

I owned TMA at 24, rode to about 16 and dumped. I bought for the dividend and because I thought I knew them, since my primary residence has a mortgage with TMA. TMA is/was considered "super-prime". If you haven't been through the process, they only take people with strong (750+ fico) credit, good assets, and mutli-million dollar homes at a lower loan-to-value ratio. For example, my home has a 40% LTV. TMA also has 2 appraisals on your home, both seemed to be THE most conservative appraisers in our area, and I have to be honest, really ticked me off at the time.

Since I thought I knew this firm, and think the drag is more what other firms/people did, when is a good time (if any) to get back into this stock ? This board seems to have some pretty intelligent people (exception of bush's fault they invested, etc.), what are your thoughts ? Thanks...