United Development Funding IV fka UDFI

[Phaedrus77]

Thanks for the link.

The average loan was $5 million at 9/15. Assuming that stayed somewhat constant, the loan portfolio would be $300 million now, or slightly less than 1/2 of what it was.

Take away 1/2 of the interest & non-interest income from the 9/30/15 income stmt and UDF would still be profitable. Of course, I’m sure UDF has incurred a hefty amount of professional fees the last 3 yrs.

Another way to look at it would be to assume that all the loans with large unfunded balances were repaid (since there were legitimate questions as to whether UDF would be able to fund those balances). I haven’t done that analysis.