Systemic shocks and borrower confidence
External disruptions to lending programs, such as delays in USDA loans during the government shutdown, offer a sobering reminder of how vulnerable some borrowers are to forces beyond their control. For many rural homebuyers, these loans represent their only viable option. When funding stalls or underwriting is frozen, confidence can quickly deteriorate.
“It’s heartbreaking,” Rickert said. “For some, USDA was their only option. Now, their leases are ending, and they can’t close. They’re stuck.”
Moments like these amplify the need for proactive, human-centered communication from lenders. When consumers already feel anxious or unsupported, systemic delays only deepen the mistrust.
Rickert believes transparency and guidance are not just customer service best practices, they’re essential to borrower confidence. “We can’t control everything, but we can explain what’s happening,” he said. “And when we do that well, that’s where trust begins to rebuild.”