United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office Resources, Community, and Economic Development Division author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 1995-07-14 monographic deposited born digital 94 p. GA 1.13:RCED-95-223FS https://www.govinfo.gov/app/details/GAOREPORTS-RCED-95-223FS P0b002ee1803923f0 f:rc95223f DGPO 2010-08-12 2011-03-28 GAOREPORTS-RCED-95-223FS machine generated eng fdlp REPORT GAOREPORTS-RCED-95-223FS RCED-95-223FS Loan defaults Direct loans Government guaranteed loans Delinquent loans Farm credit Losses Loan repayments Risk management Farm income stabilization programs FmHA Direct Farm Loan Program FmHA Guaranteed Farm Loan Program Other Written Product RCED Pursuant to a congressional request, GAO provided information on the Department of Agriculture's direct and guaranteed farm loan programs, focusing on: (1) the levels of outstanding debt on active loans and amounts owed by delinquent borrowers as of March 31, 1995; (2) losses on farm loans from fiscal year (FY) 1989 through March 31, 1995; and (3) new loans to borrowers who were delinquent or whose past defaults resulted in losses.<p/>GAO found that: (1) as of March 31, 1995, the Consolidated Farm Service Agency's (CFSA) outstanding principal for active farm loans totalled $11.9 billion in the direct loan program and $5.9 billion in the guaranteed loan program; (2) 47 percent of the outstanding principal in the direct loan program and 4 percent of the outstanding principal in the guaranteed program was held by delinquent borrowers; (3) farm ownership loans accounted for $4.7 billion in outstanding principal owed and emergency disaster assistance loans accounted for $3.2 billion in outstanding principal; (4) 34 percent of borrowers who owed less than $200,000 were delinquent, while 93 percent of borrowers who owed over $1 million were delinquent; (5) CFSA incurred $12.4 billion in losses on direct loans and $300 million in losses on guaranteed loans from FY 1989 through March 31, 1995; (6) the highest losses within the direct loan program occurred with emergency disaster assistance loans; (7) CFSA made about $234 million in new direct loans and $214 million in new guaranteed loans to borrowers after it had incurred losses on their previous farm loans; and (8) CFSA made an additional $130 million in loans from FY 1989 to March 31, 1995 under a policy allowing delinquent borrowers to obtain new loans for operating expenses. https://www.govinfo.gov/content/pkg/GAOREPORTS-RCED-95-223FS/html/GAOREPORTS-RCED-95-223FS.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-RCED-95-223FS/pdf/GAOREPORTS-RCED-95-223FS.pdf GAO/RCED-95-223FS https://www.govinfo.gov/app/details/GAOREPORTS-RCED-95-223FS Other Written Product GAO/RCED-95-223FS; Consolidated Farm Service Agency: Update on the Farm Loan Portfolio; Loan defaults Direct loans Government guaranteed loans Delinquent loans Farm credit Losses Loan repayments Risk management Farm income stabilization programs FmHA Direct Farm Loan Program FmHA Guaranteed Farm Loan Program Public Law 100-71 Public Law 100-233