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

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  • Hague, Terry
  • Leggett, Keith
  • Blanchfield, John

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.

Suggested Citation

  • Hague, Terry & Leggett, Keith & Blanchfield, John, 2002. "ABA's FSA loan loss survey results - the proof is in the pudding," American Bankers Association, American Bankers Association > Journal of Agricultural Lending, vol. 15(3).
    • Handle: RePEc:ags:abajal:336634
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    File URL: https://ageconsearch.umn.edu/record/336634/files/ers2022-23-0592.pdf
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