Farm Finance:
Secondary Markets for Agricultural Real Estate Loans
RCED-87-149BR: Published: Jul 17, 1987. Publicly Released: Jul 17, 1987.
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Pursuant to a congressional request, GAO provided information on: (1) secondary investment markets; (2) existing agricultural real estate secondary markets; (3) legislative proposals for a national secondary market for agricultural real estate loans; and (4) the potential effects of a national secondary market.
GAO found that: (1) generally, a secondary market transaction occurs when an original lender sells a loan to an investor, usually for a fraction of its face value; (2) the stock exchanges and the home mortgage secondary market are the most widely recognized and best-developed secondary markets; (3) there is no organized national secondary market for agricultural real estate loans; (4) there are several organized regional secondary markets, operating primarily in heavily agricultural states; and (5) the Farm Credit System (FCS) performs some secondary market functions, but is usually a primary lender. GAO also found that: (1) 9 bills have been introduced in the 100th Congress that would create a national secondary market for farm real estate loans; (2) the proposals would all require government involvement, ranging from the creation of a federal chartered corporation either within or independent of FCS, to vesting the Secretary of Agriculture with the responsibility for creating a secondary market; and (3) the proposals would cause the government to incur liability ranging from providing initial funding for the market to loan and mortgage guarantees. In addition, GAO found that key issues surrounding the creation of a national secondary market include: (1) the necessary degree of federal involvement; (2) the impact of the market on FCS and other lenders; (3) whether FCS should be empowered as the secondary market; (4) whether a national secondary market could coexist with FCS; and (5) the loans that should be eligible for trading in a secondary market.
Jan 15, 2021
Farmworkers:
Additional Information Needed to Better Protect Workers from Pesticide ExposureGAO-21-63: Published: Jan 15, 2021. Publicly Released: Jan 15, 2021.
Nov 20, 2020
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Food Safety:
CDC Could Further Strengthen Its Efforts to Identify and Respond to Foodborne IllnessesGAO-21-23: Published: Oct 21, 2020. Publicly Released: Nov 20, 2020.
Nov 16, 2020
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Farm Programs:
USDA Has Improved Its Completion of Eligibility Compliance Reviews, but Additional Oversight Is NeededGAO-21-95: Published: Oct 30, 2020. Publicly Released: Nov 16, 2020.
Sep 16, 2020
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Agriculture Spending:
Opportunities Exist for USDA to Identify Successes and Challenges of the Farmers to Families Food Box Program to Inform Future EffortsGAO-20-711R: Published: Sep 16, 2020. Publicly Released: Sep 16, 2020.
Sep 14, 2020
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USDA Market Facilitation Program:
Information on Payments for 2019GAO-20-700R: Published: Aug 21, 2020. Publicly Released: Sep 14, 2020.
Aug 10, 2020
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National Bio and Agro-defense Facility:
DHS and USDA Are Working to Transfer Ownership and Prepare for Operations, but Critical Steps RemainGAO-20-331: Published: Jul 10, 2020. Publicly Released: Aug 10, 2020.
May 7, 2020
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Food Safety:
FDA and USDA Could Strengthen Existing Efforts to Prepare for Oversight of Cell-Cultured MeatGAO-20-325: Published: Apr 7, 2020. Publicly Released: May 7, 2020.
Apr 13, 2020
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Priority Open Recommendations:
U.S. Department of AgricultureGAO-20-288PR: Published: Apr 6, 2020. Publicly Released: Apr 13, 2020.
Dec 23, 2019
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Nutrition Assistance Programs:
Agencies Could Do More to Help Address the Nutritional Needs of Older AdultsGAO-20-18: Published: Nov 21, 2019. Publicly Released: Dec 23, 2019.
Dec 6, 2019
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Imported Seafood Safety:
Actions Needed to Improve FDA Oversight of Import Alert Removal DecisionsGAO-20-62: Published: Nov 6, 2019. Publicly Released: Dec 6, 2019.
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