U.S. Department of Agriculture:
Centralized Servicing for FmHA Single-Family Housing Loans
T-RCED-94-121: Published: Feb 9, 1994. Publicly Released: Feb 9, 1994.
- Full Report:
GAO discussed a proposal to centralize servicing for the Farmers Home Administration's (FmHA) single-family housing loans. GAO noted that: (1) although many studies support centralized servicing, no action has been taken; (2) the benefits of centralized servicing outweigh the disadvantages; and (3) three basic options for moving forward with centralization include in-house loan servicing by FmHA, private-sector contracting, or a combination of the two that allows the public and private sectors to compete for FmHA loan servicing.