Farm Loans:

Actions Needed to Safeguard Taxpayers' Interests

T-RCED-95-147: Published: Mar 31, 1995. Publicly Released: Mar 31, 1995.

Additional Materials:

Contact:

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

Pursuant to a congressional request, GAO discussed the risks associated with the Farmers Home Administration's (FmHA) farm loan programs. GAO noted that: (1) FmHA farm loan programs have resulted in $12.5 billion in losses of taxpayer dollars; (2) about 98 percent of these losses have occurred in the direct loan program; (3) the FmHA loan portfolio totalled $18 billion as of September 1994; (4) 26 percent of the FmHA portfolio is at risk because it is held by delinquent borrowers; (5) the direct farm loan program is financially vulnerable due to inconsistent standards in FmHA field offices, certain loan policies that expose the program to losses, and conflicting program objectives; and (6) although FmHA and Congress have taken actions to address these problems, loan policies need to be strengthened and the basic mission of FmHA needs to be clarified.

Jan 15, 2021

Nov 20, 2020

Nov 16, 2020

Sep 16, 2020

Sep 14, 2020

Aug 10, 2020

May 7, 2020

Apr 13, 2020

Dec 23, 2019

Dec 6, 2019

Looking for more? Browse all our products here