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S 2589 99th Congress Senate Agriculture and Food Agricultural credit Agriculture and Rural Affairs Economics and Public Finance Federally-guaranteed loans Government trust funds Mortgage loans Revolving funds Secondary mortgage market

Farm Mortgage Guarantee Act of 1986

Introduced: June 24, 1986 See on congress.gov
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 Everywhere this bill has been 5 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 14, 1986
Committee on Agriculture received executive comment from Agriculture Department. Unfavorable.
Jul 1, 1986
Committee on Agriculture requested executive comment from Agriculture Department.
Jul 1, 1986
Referred to Subcommittee on Agricultural Credit.
Jun 24, 1986
Read twice and referred to the Committee on Agriculture.
Jun 24, 1986
Introduced in Senate
 Plain-English summary Congressional Research Service

Farm Mortgage Guarantee Act of 1986 - Amends the Consolidated Farm and Rural Development Act to authorize the Secretary of Agriculture to purchase or repurchase specified farm real estate loans.

Directs the Secretary to guarantee such loans on terms that will assure them of an adequate secondary market. Authorizes the Secretary to similarly guarantee farm real estate loans held by the Farmers Home Administration (FmHA) or other qualifying institution. Authorizes the Secretary to offer for sale such guaranteed FmHA-held loans.

Establishes: the (1) Farm Mortgage Revolving Fund; and (2) the Farm Real Estate Insurance Fund.

Terminates loan guarantee authority under this Act as of December 31, 1991.

What's happening now October 14, 1986

Committee on Agriculture received executive comment from Agriculture Department. Unfavorable.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Republican 1