ABA's FSA loan loss survey results - the proof is in the pudding

Terry Hague, Keith Leggett and John Blanchfield

American Bankers Association, 2002, vol. 15, issue 3

Abstract: Anyone who has had the experience of suffering a loss on a guaranteed loan knows that one of the most unique quirks about the USDA's Farm Service Agency (FSA) program is that FSA does not pay a loss claim until the originating bank liquidates all of the pledged assets of the borrower, accounts for all proceeds and reports, in detail, to the local FSA office. According to a recent survey, 8 or 10 lenders thought their claims were settled satisfactorily, with slightly less than 3 of 4 lenders recovering what they expected from FSA. The fairly high satisfaction rate of lenders was a good indication that the guaranteed loan programs are working well.

Keywords: Agricultural; Finance (search for similar items in EconPapers)
Date: 2002
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