Larry A. Goldstone

LARRY A. GOLDSTONE, President and Chief Operating Officer of Thornburg
Mortgage, Inc., is a founder of the company and oversees all of its day-
to-day operations, from mortgage portfolio management to marketing.
Before joining Thornburg, Mr. Goldstone was 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, Mr.
Goldstone held a variety of increasingly responsible positions at Great
America Bank, including Senior Vice President, and manager in the
Treasury Department and in the Mortgage Portfolio Management Department.
Mr. Goldstone has extensive experience in all facets of mortgage
finance, interest rate risk management and hedging. He holds a BA in
Economics form New Mexico State University and an MBA from the
University of Arizona.