Re: hope https://www.dallasnews.com/business/real-estate/2021/01/08/d-fw-land-rush-takes-off-as-builders-struggle-to-meet-demand/ These are collateralised loans. If Centurion defaults, which will cross default across the full pool of UDF, UDF will sell off the collateral. If I would go by hope, Centurion defaulting might be a good thing to get cash back, from an IRR perspective, depending obviously where you got in.