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New Farmers Home Administration Act reorganizes rural lending
The act abolishes the Farm Security Administration and creates the Farmers Home Administration to oversee family farm loans insured or direct. It authorizes long term loans up to 40 years at 3.5 percent, plus 1 percent government servicing. Veterans exemptions apply. Three county loan committees speed applications while private banks retain limited mortgage involvement.
MENTIONED IN THIS ARTICLE
Howard Dobson
James Marlow
Washington
Secretary of Agriculture
Farmers’ Home Administration
Farm Security Administration
Resettlement Administration
FSA
Farm Credit Administration
Congress
Department
FHA
Senate
FCA