02.05.2005 22:06:00

Thornburg Mortgage Hires Correspondent Sales Respresentative for the M

Thornburg Mortgage Hires Correspondent Sales Respresentative for the Midwest Region


    Business Editors

    SANTA FE, N.M.--(BUSINESS WIRE)--May 2, 2005--Thornburg Mortgage (NYSE: TMA) announced today that Shelly Schwieso has been appointed the Midwest regional sales manager for Thornburg Mortgage Inc.'s mortgage lending division.
    She joins Thornburg Mortgage from Piper Jaffray Co., where she was a principal in their institutional equity sales group covering large institutional investment accounts, as well as federal and state chartered banks. Schwieso's career encompasses 15 years of experience in mortgage sales, marketing, underwriting and operations. She has worked for a number of notable companies including Norwest Private Mortgage Bank and Chase Manhattan Bank.
    In her new role, Schwieso will be responsible for the business development effort of Thornburg Mortgage's correspondent origination channel in the Midwest region of the United States, which is comprised of Illinois, Wisconsin, Iowa, Minnesota, North and South Dakota, Montana, Wyoming and Idaho.
    Commenting on the appointment, Ron Chicaferro, executive vice president, said, "Shelly's senior level contacts with institutional investment accounts and banks should provide inroads into a region that has remained largely underserved by us until now. We're ecstatic she has joined our team."
    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 $30.9 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.
    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.
    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.

    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 and the annual report on Form 10-K.

--30--SIG/ix*

CONTACT: Thornburg Mortgage Inc., Santa Fe Leanne L. Gallagher, 505-989-1900 ir@thornburgmortgage.com

KEYWORD: NEW HAMPSHIRE INDUSTRY KEYWORD: BANKING REAL ESTATE BUILDING/CONSTRUCTION MANAGEMENT CHANGES SOURCE: Thornburg Mortgage Inc.

Copyright Business Wire 2005

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