The Secretary may purchase, on such terms and conditions as the Secretary deems appropriate, the guaranteed portion of any loan guaranteed under this chapter: , That the Secretary may not pay for any such guaranteed portion of a loan in excess of an amount equal to the unpaid principal balance and accrued interest on the guaranteed portion of the loan. The Secretary may use for such purchases funds from the Rural Development Insurance Fund with respect to rural development loans as defined in and funds from the Agricultural Credit Insurance Fund with respect to all other loans under this chapter. This authority may be exercised only if the Secretary determines that an adequate secondary market is not available in the private sector.
Structure US Code
CHAPTER 50— AGRICULTURAL CREDIT
SUBCHAPTER I— REAL ESTATE LOANS
§ 1922. Persons eligible for real estate loans
§ 1924. Conservation loan and loan guarantee program
§ 1925. Limitations on amount of farm ownership loans
§ 1926. Water and waste facility loans and grants
§ 1926a. Emergency and imminent community water assistance grant program
§ 1926c. Water and waste facility loans and grants to alleviate health risks
§ 1926d. Water systems for rural and Native villages in Alaska
§ 1926e. Rural decentralized water systems
§ 1926f. Contracts with not-for-profit third parties
§ 1927. Repayment requirements
§ 1929. Agricultural Credit Insurance Fund
§ 1929–1. Level of loan programs under Agricultural Credit Insurance Fund
§ 1929a. Rural Development Insurance Fund
§ 1929b. Purchase of guaranteed portions of loans; terms and conditions; exercise of authorities
§ 1932. Assistance for rural entities
§ 1933. Guaranteed rural housing loans; Hawaiian home lands
§ 1934. Low-income farm ownership loan program; eligibility; repayment requirements
§ 1935. Down payment loan program
§ 1936a. Use of rural development loans and grants for other purposes
§ 1936b. Intermediary relending program
§ 1936c. Relending program to resolve ownership and succession on farmland