Coverage continues to roll in, helping to shed light on UDF’s Ponzi-like real estate scheme. Writing for FORTUNE, Jen Wieczner provides an overview of the position highlighting Kyle Bass’s experience with real estate investments.
Hayman’s Case Study presentation demonstrates how loans to UDF’s largest borrower regularly do not generate any cash (principle or interest), are extended without fees and accrue larger and larger balances for years.
Download and read Hayman's multi-page overview of UDF's scheme.
The attached analysis shows that the CEO of UDF, Hollis Greenlaw, and the CEO of UDF’s largest borrower, Mehrdad Moayedi, co-own a private jet.
Hayman's official UDF presentation lays out the full anatomy of this House of Cards.
Hayman's case study presentation breaks down how the UDF scheme works.