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Farm Service Agency: Status of the Farm Loan Portfolio and the Use of Three Contracting Provisions for Loan Servicing

RCED-98-141 Published: May 05, 1998. Publicly Released: May 19, 1998.
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Highlights

Pursuant to a congressional request, GAO provided information on: (1) the levels of outstanding principal on active direct farm loans at the end of fiscal years (FY) 1995 through 1997, including the amounts owed by delinquent borrowers and the amount of debt written off by the Farm Service Agency (FSA) through the debt settlement process in each of these fiscal years; and (2) FSA's use of three statutory provisions enacted in the mid-1990s that authorize FSA to contract with the private sector to resolve delinquent loans.

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Agricultural programsDebt collectionDelinquent loansDirect loansLoan defaultsLoan repaymentsPrivatizationBorrower indebtednessFarm loansFarming