I've been reviewing the Denton County website for activity related to UDF entities.
The Denton County Recorders office has an easy to use site.
There's quite a bit of partial and full lien releases on UDF IV loans to various parties.
Typically, a partial lien release would occur when a builder buys lots.
If UDF IV is giving a partial release then they are receiving compensation for doing so. The compensation received is a hard data point for UDF to value the loan.
This could be an indication that the loans have not required a write down because UDF has not disclosed a material write down, and also the SEC didn't flag these loans as problematic in their charges.
I assume the SEC reviewed this recent activity as they assessed whether the loans were marked properly.
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