United Development Funding IV fka UDFI

[Phaedrus77]

Thank you to the poster that replied to my previous message. I'm not a member of Ihub, so I can't respond privately.

On an unrelated note, I read through the damages section of Greenlaw's affidavit. In paragraph 249, Greenlaw states:

Defendants' actions caused UDF's reduced access to credit and caused UDF to lose profits on and/or equity in loans that UDF sold, liquidated or that borrowers repaid...

He then goes on to mention a loan from UDFLOF to Centurion that was divested at a loss. The only other mention of a loan loss is Buffington, which doesn't really affect IV.

I'd guess that if there were other major losses on loans sold, repaid, etc then they would have also been mentioned. So I guess that's a good sign that they're not.

I'm curious how you guys think UDF goes about getting its reputation back, or if it's even possible. Once you're branded as a Ponzi scheme, and the FBI raids your office, it seems to me that, even if you're completely innocent, you're going to have a hard time getting people to trust you again.

I'm thinking a liquidation would be the best result here. Most of the assets should be liquid by now, so it shouldn't take long. I don't know if Greenlaw would go for that though...he might want to limp along and keep earning fees.