Housing Assistance: An Inventory of Fiscal Year 2010 Programs, Tax Expenditures, and Other Activities

U.S. Government Accountability Office

Ensure the timely payment of principal and interest on insured Farm Credit System debt obligations purchased by investors.

Administering Agency/Entity Farm Credit System Insurance Corporation
Short Description The Farm Credit System Insurance Corporation (Corporation) is a government-controlled corporation that collects insurance premiums from member banks to pay its administrative expenses and fund insurance reserves. The Corporation ensures the timely payment of principal and interest on insured Farm Credit System debt obligations purchased by investors.
Primary Purpose Increase availability of mortgage loans
Type of Housing Supported Homeownership
Type of Assistance Other
Fiscal Year 2010 Obligations Obligations for the Farm Credit System Insurance Corporation in fiscal year 2010 were $209 million; some amount of obligations may be attributable to activities related to lending for rural housing. The Corporation derives its revenues from insurance premiums collected from insured Farm Credit System banks and from the investment income earned on its investment portfolio.

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