NEW YORK (AP) — Thornburg Mortgage Inc., a mortgage lender, said Thursday it has been the subject of margin calls on a portfolio of securities backed by alt-A mortgages.

Alt-A mortgages are loans given to customers with minor credit problems or who cannot document their income or assets to get a traditional, prime mortgage. Margin calls force borrowers to repay loans or put up more collateral to secure them.

Shares of Thornburg (TMA) fell $3.09, or 26.8%, to $8.45 in premarket trading Thursday. Shares have traded between $7.49 and $28.40 during the past year.

Thornburg said in a regulatory filing it is facing margin calls because the value of the alt-A mortgage-backed securities has plummeted between 10% and 15% since …
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