Thornburg Mortgage Hires Broker Operations Manager

Business Wire, Dec 21, 2005

SANTA FE, N.M. -- Thornburg Mortgage Inc. (NYSE:TMA) announced today that David A. Winters has been appointed broker operations manager for the company's recently developed broker origination channel. E[acute accent]In this newly created position, Winters will establish and oversee all facets of broker loan operations including working with other origination executives to develop coordinated and effective broker-originated loan programs, setting annual production goals and evaluating broker loan activities for quality and efficiency. E[acute accent]Thornburg Mortgage Senior Executive Vice President Joseph Badal noted, "We are pleased to announce the addition of David Winters to the Thornburg Mortgage team. The potential for development of this new business is vast, and David's background in both high-growth and established corporate environments will surely be an asset." E[acute accent]With 21 years of experience in mortgage lending, Winters arrives at Thornburg Mortgage from Bank of America, where he managed three diverse groups within the Consumer Real Estate Division. In this role he was responsible for managing the bank's purchase finance and refinance program; overseeing the accounting, underwriting, and default control of 250,000 jumbo mortgages; and managing the company's mortgage insurance/reinsurance relationships. Additionally, Winters led the development of fulfillment processes and systems that significantly enhanced Bank of America's post closing division. He holds a Bachelor of Science in Finance from George Mason University. E[acute accent]"In the field of mortgage lending, David Winters is a proven leader," said Joseph Stanganelli, national broker sales executive at Thornburg Mortgage. "He'll be a catalyst for growth in our newly developed broker origination channel." E[acute accent]Thornburg Mortgage is a leading single-family residential mortgage lender focused principally on the jumbo segment of the adjustable rate mortgage market. Backed by a balance sheet of $39.6 billion in high-quality assets, the company seeks to deliver attractive dividend income and steady growth for its shareholders by acquiring high-quality mortgage-backed securities and growing its share of the mortgage loan origination business. Capitalizing on its innovative portfolio lending model, REIT tax structure and leading-edge technology, Thornburg Mortgage is a highly efficient provider of specialized mortgage loan products for borrowers nationwide with excellent credit, and is positioned to become one of the top 50 mortgage lenders in the country. We invite you to visit the company's Web site at www.thornburgmortgage.com. E[acute accent]Thornburg Investment Management, a separate investment management company founded in 1982, advises a series of eight laddered-maturity bond mutual funds, four equity mutual funds and separately managed equity and fixed income portfolios for institutional and high net worth clients and sub-advisory services. E[acute accent]Both companies share three core attributes: high quality operations, innovative strategies for achieving their goals, as well as a disciplined approach to managing and controlling risk.

E[acute accent]Certain matters discussed in this news release may constitute forward-looking statements within the meaning of the federal securities laws. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors, including general economic conditions, interest rates, the availability of ARM securities and loans for acquisition and other risk factors outlined in the company's SEC reports, including the annual report on Form 10-K.