Led by Thornburg, mortgage REIT shares tumble

03/14/2008 | Forbes

Shares of mortgaged-backed real estate investment trusts recorded sharp declines in trading Thursday. The fall was led by Thornburg Mortgage Inc., which said it received a default notice from Morgan Stanley after failing to meet a $9 million margin call. Thornburg shares closed at $2.27, down 20.4% on the day.

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