Federal Agricultural Mortgage Corporation: Underwriting Standards Issues Facing the New Secondary Market
RCED-89-106BR
Published: May 05, 1989. Publicly Released: May 05, 1989.
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Highlights
In response to a congressional request, GAO reviewed the Federal Agricultural Mortgage Corporation (FAMC), focusing on: (1) underwriting standards for secondary markets; (2) provisions of the Agricultural Credit Act of 1987 relating to FAMC underwriting standards; and (3) key issues FAMC faces in developing underwriting standards.
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Topics
Agricultural programsBank managementFarm credit banksFarm income stabilization programsFederal corporationsGovernment guaranteed loansMortgage loansStandards evaluationSecondary marketsUnderwriting standards