FmHA plans to issue 1150 loan delinquency notices
Ronald Caldwell, FmHA Wisconsin director, announced plans to mail 1,150 delinquency notices in January to Wisconsin farmers. They must respond within 30 days or face foreclosure, as the agency seeks to resolve delinquencies amid prior court restrictions and a 5.8 billion loan balance. Eastern Wisconsin shows fewer delinquencies, with the problem concentrated from Wausau to Janesville.
MENTIONED IN THIS ARTICLE
Fmha
Farmers Home Administration
Ronald Caldwell
Wisconsin
Mr. Caldwell
Caldwell
Wausau
Eau Claire
la Crosse
Prairie du Chien
Janesville
Farm Credit Losses Seen Rising for System
Farm Credit Administration officials told Wisconsin Farm Bureau members that unpaid loans are mounting and earnings could drop sharply. Loss projections over the next two years total up to six billion dollars, eroding reserves and prompting calls for stronger regulatory powers and potential financial assistance from Congress. The FCA seeks to directly examine land bank and production credit associations and to establish a capital corporation funded by member banks to absorb bad loans. The plan includes a five billion dollar revolving line of credit, contingent on the system first using its own resources.
MENTIONED IN THIS ARTICLE
The
Farm Credit Administration
C. Edward Harshbarger
FCA
Donald Wilkinson
Wisconsin Farm Bureau Federation
Farm Credit
Farm Credit System
Capital Corporation
Conferees Link Farm Programs to Conservation
Congress negotiators approved soil conservation language tying farm program benefits to crop insurance and land care for erosion prone fields. The measure would deny subsidies and loans to producers tilling high erosion risk land unless conservation practices are used, with rental payments to idle land under long term contracts. Debate continues on overall commodity subsidies and how much land to idle, with figures from 25 to 40 million acres discussed.
MENTIONED IN THIS ARTICLE
House
Senate
Farm Credit bailout moves fast in Senate action
The Senate approved a rescue package for the Farm Credit System on a 57 to 34 vote. The House Agricultural Committee backed similar measures to authorise use of System resources, revamp the Farm Credit Administration, and permit Treasury backstop funding if needed. The plan aims to centralize finances and bolster confidence for nearly 1 million borrowers amid a severe economic decline.
MENTIONED IN THIS ARTICLE
U.S. Senate
House Agricultural Committee
Congress
Also Mentioned on This Page
North Dakota
Algoma
Future Farmers of America
Washington
Reagan
Farm Bureau
Harshbarger
Kevin Hagen
Roy and
Irene Sloper
Highway 35
Milltown
Polk County
Washington, D.C
Peter C. Myers
Agriculture Secretary
Natural Resources
Soil Conservation Service
Daniel Weiss
Sierra Club
Federal Soil Conservation
FCS
Secretary of the Treasury
Farm Credit System Capital Corporation
Robert Dole
Sen. Dole
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