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Former mortgage company wins $45M in breach-of-contract action

The trustee for failed mortgage lender Thornburg Mortgage Inc. has been awarded more than $45 million in damages in a lawsuit alleging an investment bank improperly liquidated mortgage-backed securities more than eight years ago. Thornburg, now known as TMST Inc., was a publicly-traded real estate investment trust investing in residential, mortgage-backed securities that filed for Chapter ...