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HR 2179 100th Congress House Agriculture and Food Agricultural credit Agricultural economics Agriculture and Rural Affairs Federally-guaranteed loans

Farmers Home Administration Guaranteed Loan Improvements Act of 1987

Introduced: April 27, 1987 See on congress.gov
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 Everywhere this bill has been 6 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 28, 1987
Unfavorable Executive Comment Received From USDA.
Jul 28, 1987
See H.R.3030.
May 18, 1987
Referred to Subcommittee on Conservation Credit and Rural Development.
May 18, 1987
Executive Comment Requested from USDA.
Apr 27, 1987
Referred to House Committee on Agriculture.
Apr 27, 1987
Introduced in House
 Plain-English summary Congressional Research Service

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.

What's happening now September 28, 1987

Unfavorable Executive Comment Received From USDA.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Democratic 1