Farmers Home Administration Guaranteed Loan Improvements Act of 1987

Summary

Farmers Home Administration Guaranteed Loan Improvements Act of 1987 - Amends the Consolidated Farm and Rural Development Act to permit leaders and subsequent loan holders to sell the guaranteed portion of certain Farmers Home Administration (FmHA) loans provided that: (1) all related fees due the Secretary of Agriculture are fully paid; and (2) the loan has been fully disbursed to the borrower. Authorizes the issuing of pool certificates representing ownership of the guaranteed portion of such FmHA loans. Directs the Secretary to: (1) provide for the central collection of registration information; (2) provide for specified seller-buyer disclosure; (3) regulate market makers in pool certificates; (4) require market makers to service all pools and provide the Secretary with payment and default information; and (5) report annually to the appropriate congressional committees regarding secondary market operations.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 27 April 1987

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.