D.F.C. Chairman: D.F.C. Has Never Defaulted on Any of Its Loans

Henry Anderson

Anderson explained that since May of 2021, the demand for mortgage loans have increased by forty-three percent. Concerns from the public came about as a result of the number of mortgage loans that end up in delinquency and on auction. But Anderson said the D.F.C.’s record of repayment has been unquestionable over its lifetime.

Over the phone: Henry Anderson, Chairman, D.F.C Board of Directors

“Let’s look at the facts. D.F.C. is fifty-nine years old and it has never defaulted on any of its debt obligations to any entity. So the D.F.C. always repays what it owes. That’s the first thing. The second thing, when you’re in a business that you lend, you will have some loans, especially when you have COVID times, as we have had in the past, where things don’t work out the way that the borrower intended and we have done a lot of forbearance for that, but that’s a small minority of the overall portfolio. The residential loans are one of the better performing areas actually, for the D.F.C. And when you look at the overall portfolio where we have productive loans, residential, education – the productive loans, which the majority goes to the agriculture sector. The agriculture sector, when you have climate change events that things like that, there are some risks so what the residential portfolio does for the D.F.C., it actually stabilizes the health of our portfolio because most of the residential loans get paid back, and in the times when we have to sell – because we look at the quality of the assets that we have and we do our due diligence the right way and we sell it the right way – then we recoup our funds. And that is how the D.F.C. has been able to pay every entity that it has ever borrowed from.”