Hayman’s latest presentation analyzes how the circumstances surrounding a recent default do not seem to square with how UDF IV described its financial position.
Hayman’s latest presentation outlines another case study that highlights numerous recurring red flags regarding UDF loans and the nature of the financial relationship between UDF and its largest borrower.
Hayman’s case study of Northpointe Crossing examines how UDF was lending on real estate in tertiary markets leading up to the financial crisis in late 2007.
Hayman’s case study on the problematic nature of a development which UDF financed, foreclosed upon and then financed again through multiple successive funds, leading up to, and subsequent to, the great financial crisis.
Hayman’s overview of IRS case law, restrictions placed on REITs, debt versus equity issues and the potential implications for UDF IV.
Hayman’s case study presentation shows how UDF IV public shareholder capital helped fund payments to an affiliated UDF fund which had previously lost millions.