High Risk Series:

Farmers Home Administration's Farm Loan Programs

HR-93-1: Published: Dec 1, 1992. Publicly Released: Dec 1, 1992.

Contact:

Office of Public Affairs
(202) 512-4800
youngc1@gao.gov

GAO provided information on the Farmers Home Administration's (FmHA) management of direct and guaranteed farm loan programs and federal farm properties, focusing on FmHA failure to comply with loan and property management standards and program policies which contribute to financial risks.

GAO found that: (1) FmHA attempted to provide high-risk farmers with temporary credit until they were able to secure commercial credit and protect the taxpayers' investment; (2) 70 percent of the $20 billion in outstanding FmHA loans were either delinquent or restructured to prevent delinquency; (3) FmHA reduced $7.6 billion in delinquent debt due to loan defaults; (4) repeated loan servicing worsened borrowers' financial conditions by increasing their debt and reducing equity; (5) FmHA field offices often failed to follow their own standards for making loans, servicing loans, and managing property; (6) FmHA and congressional loan making, loan-servicing, and inventory management policies increased FmHA and taxpayers' vulnerability to losses; and (7) FmHA and Congress need to establish a system to ensure that FmHA field offices follow loan standards and enact policy and program changes to reduce the loan programs' exposure to risk.

Below are the reports in this series:

High Risk Series: Farmers Home Administration's Farm Loan Programs HR-93-1, Dec 1, 1992

High Risk Series: Guaranteed Student Loans HR-93-2, Dec 1, 1992

High Risk Series: Bank Insurance Fund HR-93-3, Dec 1, 1992

High Risk Series: Resolution Trust Corporation HR-93-4, Dec 1, 1992

High Risk Series: Pension Benefit Guaranty Corporation HR-93-5, Dec 1, 1992

High Risk Series: Medicare Claims HR-93-6, Dec 1, 1992

High Risk Series: Defense Weapons Systems Acquisition HR-93-7, Dec 1, 1992

High Risk Series: Defense Contract Pricing HR-93-8, Dec 1, 1992

High Risk Series: Department of Energy Contract Management HR-93-9, Dec 1, 1992

High Risk Series: Superfund Program Management HR-93-10, Dec 1, 1992

High Risk Series: NASA Contract Management HR-93-11, Dec 1, 1992

High Risk Series: Defense Inventory Management HR-93-12, Dec 1, 1992

High Risk Series: Internal Revenue Service Receivables HR-93-13, Dec 1, 1992

High Risk Series: Managing the Customs Service HR-93-14, Dec 1, 1992

High Risk Series: Management of Overseas Real Property HR-93-15, Dec 1, 1992

High Risk Series: Federal Transit Administration Grant Management HR-93-16, Dec 1, 1992

High Risk Series: Asset Forfeiture Programs HR-93-17, Dec 1, 1992

Jul 29, 2014

Apr 30, 2014

Mar 26, 2014

Mar 5, 2014

Oct 17, 2013

Sep 4, 2013

Aug 30, 2013

Aug 29, 2013

Jul 29, 2013

Jun 27, 2013

Looking for more? Browse all our products here