Here is an interesting sentence where the Defendants could be acknowledging that they came to the wrong conclusion about UDF, but did not do so knowingly or recklessly:
"But there is simply no clear and specific evidence in the record to suggest that Defendants’ conclusions, reasonably understood, were false, nor is there any evidence to suggest that, even if Defendants somehow had come to a wrong conclusion despite months of careful research, they did so knowingly or recklessly."
that is a link to Bexar County official records search.
You can do searches for anything recorded against properties (lien releases, etc).
UDF IV had several loans on deals in Bexar County. You can find a lot of activity on these deals indicating that normal business operations is continuing at UDFI.
Most of the activity is related to partial lien releases as builders buy lots. There are some other recordings that indicate the develop brought in a new senior lender and UDF subordinated to that new senior lender. Presumably, the senior lender was brought in to finance development. At any rate, everything that I've run across on this link suggests the loans are performing. Although, we don't know if there have been impairments, or reserves.
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