Replies to post #1633 on United Development Funding IV fka UDFI

[Phaedrus77]

The link related to the following loans:

UDF I - $34 million. All but 450k was written off.
UDF III - $122.5 million. All but 450k was written off.
UDF IV - $180k loan. Nothing written off.

It’s quite remarkable that UDF had ~$157 million loaned against 6 residential lots and 4.56 acres of land. No wonder 99% of the loans were written off.

You’re probably right about the UDF IV writeoff. I remembered the UDF III 8-k related to Buffington (which is what I linked to), but don’t recall an 8-k for IV. Maybe they deemed it immaterial or it happened after the stock was deregistered?

[Phaedrus77]

The $68 UDF IV balance and $40 liquidation proceeds were mentioned in one of Greenlaw’s affidavits in the Bass case, so you were correct.