In every town, city, and state across our country community lenders play a vital part in the mortgage economy. Their pivotal role has been highlighted yet again in 2020 as they help families and businesses face the unique challenges this year has presented to all Americans. While they exist in every community, no two community lenders are the same. For that reason, no two mortgage portfolios are exactly alike.
Less than four months into the Twenties of the 21st Century, uncertainty has hit our world and our economy in ways that can aptly be described as unprecedented. Our country and our industry face challenges on a scale that would have been hard to imagine only a few short months ago. When I first sat down to write this, I intended to focus on blanket insurance concepts and how they might be of assistance to community lenders as they strive to be more efficient and better protected.
Any lender who serves military customers is familiar with the unique financial challenges and advantages that such customers face as they serve our country. As a young Army infantry platoon leader in Hawaii I witnessed firsthand many of these scenarios: