There are so many great deals on solid US companies in todays market (and I suspect the deals will continue to get better over the next 6-18mo) but TMA is not one of these deals. This company has been beaten to death due to their bad earnings. The stock is not undervalued, if anything it still has a lot of room to fall. $0.30.... $0.20...
Don't try to catch this falling knife, you're just going to get cut.
TMA - Thornburg Mortgage, Inc. - Google Finance
TMA @ $0.44/sh
F P/E 10.85