United Mortgage Trust

ITEM 1. BUSINESS GENERAL United Mortgage Trust (which we refer to in this report as "we,", "us", "our" and the "Company") is a Maryland real estate investment trust formed on July 12, 1996. We acquire mortgage investments from several sources, including from related parties of our Advisor, UMTH General Services, L.P., a Delaware limited partnership ("Advisor" or "UMTHGS"). The amount of mortgage investments acquired from such sources depends upon the mortgage investments that are available f...