Larry Goldstone, once a top player in the Jumbo and "super" Jumbo market through his now defunct firm Thornburg Mortgage, is trying for a comeback in the business.
Through his venture capital firm Aventur Partners, Goldstone's Aventur Mortgage Capital is raising funds to develop a Jumbo lending platform with an eye toward securitization.
At press time he had not returned a telephone call about the matter, but revealed as much on his firm's website.
Almost two years ago the Santa Fe-based Thornburg, a REIT, filed for bankruptcy protection as the housing bubble burst. Although Thornburg initially boasted low delinquencies on its loans, all that changed in late 2009 as conditions in the housing market worsened.
Eventually, Thornburg's bankers pulled out and the firm was forced into liquidation.
In late 2009 the trustee liquidating Thornburg sued Goldstone and another former top officer, seeking the return of documents and computer files, after learning they might have misused company resources to launch a start-up venture.
A few months later, the trustee sued Goldstone and three former officers, saying they improperly paid themselves handsome bonuses just before the lender filed for bankruptcy. The charges were denied.