United Development Funding IV fka UDFI

[Jh5142]

Can't argue with your position.

I think the underlying collateral value continues to rise and the longer they wait to show financials the better they will look.

I believe there is some reason for the delay other than getting the audit done. Maybe they are wanting to get through the appeal of the Bass lawsuit, which I think is early May. Showing portfolio losses will give Bass facts to use and maybe they want to avoid that until the appeal process is over.

Maybe they are just watching land values increase and want to show the best value possible.

or maybe there are a lot more loans like the Buffington ones that showed massive losses. If there are then the SEC should have figured that out before settling.

I'm not happy UDF isn't sharing financial info- they can release some portfolio info if they wanted to. There's a middle ground between nothing and fully audited financials.

There are also more recent activity of partial lien releases on UDF loans. If UDF is releasing collateral then they are probably receiving some level of repayment.

Hoping for the best.