v2.4.0.6
Related Party Transactions (Details) (USD $)
Mar. 31, 2014
Dec. 31, 2013
Mar. 31, 2014
CRG [Member]
Mar. 31, 2014
CRG [Member]
C Units [Member]
Mar. 31, 2014
CRG [Member]
Class C [Member]
Mar. 31, 2014
CRG [Member]
Class D [Member]
Oct. 01, 2007
CRG [Member]
Class D [Member]
Mar. 31, 2014
RAFC [Member]
Mar. 31, 2014
RAFC [Member]
C Units [Member]
Mar. 31, 2014
RAFC [Member]
Class C [Member]
Mar. 31, 2014
RAFC [Member]
Class D [Member]
Mar. 31, 2014
SCMI [Member]
Mar. 31, 2014
SCMI [Member]
C Units [Member]
Mar. 31, 2014
SCMI [Member]
Class C [Member]
Mar. 31, 2014
SCMI [Member]
Class D [Member]
Mar. 31, 2014
RAFC Wonder [Member]
Mar. 31, 2014
RAFC Wonder [Member]
C Units [Member]
Mar. 31, 2014
RAFC Wonder [Member]
Class C [Member]
Mar. 31, 2014
Wonder Indemnification [Member]
Mar. 31, 2014
Wonder Indemnification [Member]
C Units [Member]
Initial principal amount $ 10,612,697   $ 2,725,442         $ 3,243,369       $ 3,295,422       $ 1,348,464 [1]     $ 0 [1]  
Balance 20,248,348 20,094,279 4,504,544         10,324,266       3,448,002       1,971,536 [1]     0 [1]  
Promissory Note principal amount 16,288,643 [2]   4,300,000 [2]         7,100,000 [2]       3,488,643 [2]       1,400,000 [1],[2]     0 [1],[2]  
Units/ indemnification pledged as security (in shares)         4,984 2,710 1,355     11,228 6,659     4,545 3,000     1,657 [1] 1,134,000 [1]  
C Units distributed       0         0       0       0 [1]     0 [1]
Units/indemnification remaining (in shares)         2,399 2,710       8,694 6,659     985 3,000     1,482 [1]    
Estimated Collateral Value $ 21,427,000 [3]   $ 4,786,000 [3]         $ 10,465,000 [3]       $ 3,872,481 [3]       $ 1,482,000 [1],[3]     $ 822,000 [1],[3]  
[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