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NNN acquires an interest in Alesco

Feb 05, 2008

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 shareholders." For more information, visit
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