Goldstone promoted to Thornburg Mortgage CEOMortgagePress.comLarry Goldstone, Garrett Thornburg, residential mortgage lenders
The board of directors of Thornburg Mortgage Inc.
announced that president and Chief Operating Officer Larry
Goldstone has been promoted to the position of chief executive
officer. He will also continue to serve as president of the
company. It was also announced that Garrett Thornburg, previously
chairman and CEO of Thornburg Mortgage, will remain chairman of the
board and continue to be actively involved in the company.
"Larry has been the driving force behind Thornburg Mortgage's
evolution into one of the nation's premier residential mortgage
lenders," said Thornburg. "When we took the company public in 1993,
Thornburg Mortgage's business was principally acquiring AAA-rated
mortgage-backed securities. Under Goldstone's leadership, the
company has become a national leader in offering innovative
adjustable-rate mortgage products to sophisticated high credit
quality borrowers, a top 20 correspondent lender and a premier
lending partner for Mortgage Brokers.
Before co-founding Thornburg Mortgage, Goldstone served as
senior vice president and treasurer of Downey Savings and Loan,
where he was responsible for cash and liquidity management,
mortgage portfolio management, secondary marketing and interest
rate risk management. Prior to that, Goldstone held a variety of
positions at Great American
Bank, including manager in the treasury and mortgage portfolio
management departments, as well as senior vice president. During
his tenure at Great American Bank, Goldstone was responsible for
the management and trading of a $3 billion mortgage-backed
securities portfolio and was instrumental in structuring $1
billion-plus of privately- and publicly-issued adjustable- and
variable-rate mortgage-backed securities.
"We are in the midst of extraordinary challenge and
opportunity," said Goldstone. "Our team is among the best in the
business, and I am honored to work shoulder-to-shoulder with them
as we continue building an exceptional company. I am confident that
our enhanced financing platform, our strong capital position, and
our high quality portfolio place us in an enviable market position
that will allow us to create long-term value for our clients and
For more information, visit www.thornburgmortgage.com.