A large package of jumbo servicing rights belonging to the now defunct Thornburg Mortgage, Santa Fe, is expected to hit the market during the next few weeks, according to investment banking sources.
The size of the offering could be upwards of $10 billion of jumbo receivables. An official working on the bankruptcy said he could not comment at this time and referred inquiries to Thornburg's bankruptcy counsel in Maryland. (They had not responded at press time.)
Once a publicly traded REIT, Thornburg filed for Chapter 11 bankruptcy protection in May. Its bondholders (debtors) are now in charge of its operations. Thornburg's name has been changed to TMST.