Hayman’s research raises questions about Alpha Ranch, a UDF-funded residential development project, and examines the relevant debt versus equity considerations, which could create significant tax consequences.
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 latest research examines UDF’s problematic past (and present) in its case study of Northpointe Crossing, a residential real estate development in Anna, Texas.
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.
UDF’s Ponzi-like real estate scheme continues to unravel as it tries to create liquidity through the dissipation of collateral to repay various creditors or to satisfy other financial obligations.
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.