Schedule Of Recourse Obligations, Related Party [Table Text Block] |
The Secured Notes (including related guaranties discussed below) are secured by an assignment of the distributions on the Class C units and Class D units of limited partnership interest of UMT Holdings held by each originating company. Name | | Initial principal amount | | Balance at March 31, 2014 | | Promissory Note principal amount (2) | | | Units/ indemnification pledged as security | | C Units distributed during 2014 | | Units/ indemnification remaining | | Estimated Collateral Value (3) | | CRG | | $ | 2,725,442 | | $ | 4,504,544 | | $ | 4,300,000 | | | 4,984 Class C and 2,710 Class D | | | - | | 2,399 Class C and 2,710 Class D | | $ | 4,786,000 | | RAFC | | $ | 3,243,369 | | $ | 10,324,266 | | $ | 7,100,000 | | | 11,228 Class C & 6,659 Class D | | | - | | 8,694 Class C & 6,659 Class D | | $ | 10,465,000 | | SCMI | | $ | 3,295,422 | | $ | 3,448,002 | | $ | 3,488,643 | | | 4,545 Class C and 3,000 Class D | | | - | | 985 Class C and 3,000 Class D | | $ | 3,872,481 | | RAFC / Wonder(1) | | $ | 1,348,464 | | $ | 1,971,536 | | $ | 1,400,000 | | | 1,657 Class C | | | - | | 1,482 Class C | | $ | 1,482,000 | | Wonder Indemnification (1) | | | n/a | | | n/a | | | n/a | | | $1,134,000 | | | - | | n/a | | $ | 822,000 | | Totals | | $ | 10,612,697 | | $ | 20,248,348 | | $ | 16,288,643 | | | | | | | | | | $ | 21,427,000 | | | (1) | Wonder is collateralized by an indemnification agreement from RMC in the original amount of $1,134,000, of which $822,000 remains, and the pledge of 3,870 C Units. 2,213 of the pledged C Units also cross-collateralize the RAFC obligation. | | (2) | The CRG, RAFC and Wonder balances at March 31, 2014 exceeded the stated principal amount per their variable Secured Notes by approximately $205,000, $3,224,000 and $572,000, respectively. Per the terms of the Secured Notes, the unpaid principal balance may be greater or less than the initial principal amount of the note and is not considered an event of default. The rapid rate of liquidation of the remaining portfolio of properties caused a more rapid increase in the Unpaid Principal Balance (“UPB”) than we originally anticipated and outpaced the minimum principal reductions scheduled for the loans. | | (3) | Estimated collateral value reflects the pledge of D units of limited partnership interest of UMTH held by WLL, Ltd., RAFC and KLA, Ltd. UMTH D units represent equity interests in UMT Holdings, LP. Pledge of the UMTH D units entitles the beneficiary to a pro-rata share of UMTH partnership D unit cash distributions | |
Schedule Of Affiliate Lines Of Credit Receivable [Table Text Block] |
The following table summarizes the related party lines of credit receivable as of March 31, 2014 and December 31, 2013: | | 2014 | | 2013 | | UDF I | | $ | 7,739,000 | | $ | 7,739,000 | | UDF III Economic Interest Participation Agreement | | | 70,835,000 | | | 70,835,000 | | UMTH LC | | | 7,577,000 | | | 7,577,000 | | Balance, end of period | | $ | 86,151,000 | | $ | 86,151,000 | | |
Schedule of Related Party Transactions [Table Text Block] |
The table below summarizes the approximate payments associated with related parties for the three months ended March 31, 2014 and 2013: Related Party Payments: | | | | | | | | | | | | | | | | | | | For Three Months Ended | | Payee | | Purpose | | March 31, 2014 | | | | March 31, 2013 | | UMTHGS | | Trust administration fees | | $ | 250,000 | | 88 | % | | $ | 319,000 | | 94 | % | UMTHGS | | General & administrative - shareholder relations | | | 34,000 | | 12 | % | | | 19,000 | | 6 | % | | | | | $ | 284,000 | | 100 | % | | $ | 338,000 | | 100 | % | | | | | | | | | | | | | | | | PSC | | Loan servicing fee | | $ | - | | - | | | $ | 2,000 | | 100 | % | | | | | | | | | | | | | | | | UDF III | | Credit enhancement fees | | $ | 18,000 | | 100 | % | | $ | 21,000 | | 100 | % | | | | | | | | | | | | | | | | UDF IV | | Participation Interest Paid | | $ | 1,058,000 | | 100 | % | | $ | 342,000 | | 100 | % | | | | | | | | | | | | | | | | UMTH LD | | Admin and origination fees paid | | $ | 92,000 | | 100 | % | | $ | 91,000 | | 100 | % | |
Schedule Of General and Administrative Expense Related Party [Table Text Block] |
The table below summarizes the approximate expenses associated with related parties for the three months ended March 31, 2014 and 2013: Related Party Expenses: | | | | | | | | | | For Three Months Ended | | Payee | | Purpose | | March 31, 2014 | | | March, 31, 2013 | | UMTHGS | | Trust administration fees | | $ | 250,000 | | 93 | % | | $ | 250,000 | | 93 | % | UMTHGS | | General & administrative - shareholder relations | | | 19,000 | | 7 | % | | | 19,000 | | 7 | % | | | | | $ | 269,000 | | 100 | % | | $ | 269,000 | | 100 | % | | | | | | | | | | | | | | | | PSC | | Loan servicing fee | | $ | - | | - | | | $ | 2,000 | | 100 | % | PSC | | General & administrative Misc | | $ | 3,000 | | 100 | % | | | - | | - | | | | | | $ | 3,000 | | 100 | % | | $ | 2,000 | | 100 | % | | | | | | | | | | | | | | | | UMTH | | Debt placement fees | | $ | 20,000 | | 100 | % | | $ | 8,000 | | 100 | % | | | | | | | | | | | | | | | | UDF III | | Credit enhancement fees | | $ | 22,000 | | 100 | % | | $ | 20,000 | | 100 | % | |