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12 U.S.C. § 861 to 864 — Repealed. Pub. L. 92–181, title V, § 5.26(a), Dec. 10, 1971, 85 Stat. 624
Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
Section 801, acts July 17, 1916, ch. 245, title I, § 15, 39 Stat. 373; Ex. Ord. No. 6084, Mar. 27, 1933; Aug. 18, 1959, Pub. L. 86–168, title I, § 104(h), 73 Stat. 387, authorized loans by Federal land banks through agents. See [section 2020 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2020&num=0&edition=prelim).
Section 802, acts July 17, 1916, ch. 245, title I, § 15, 39 Stat. 373; Aug. 18, 1959, Pub. L. 86–168, title I, § 104(h), 73 Stat. 387, covered manner of making loan through agents. See [section 2020 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2020&num=0&edition=prelim).
Section 803, act July 17, 1916, ch. 245, title I, § 15, 39 Stat. 373, placed limits on who could be employed as agent. See [section 2020 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2020&num=0&edition=prelim).
Section 804, act July 17, 1916, ch. 245, title I, § 15, 39 Stat. 373, covered expenses of and commissions to agents. See [section 2020 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2020&num=0&edition=prelim).
Section 805, act July 17, 1916, ch. 245, title I, § 15, 39 Stat. 373, provided for addition of expenses of agents to loans. See [section 2020 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2020&num=0&edition=prelim).
Section 806, act July 17, 1916, ch. 245, title I, § 15, 39 Stat. 373, covered collection of loan payments. See [section 2020 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2020&num=0&edition=prelim).
Section 807, act July 17, 1916, ch. 245, title I, § 15, 39 Stat. 373, covered i
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Source file: Laws/federal/codes/united-states-code/title-12/section-861-to-864-12-u-s-c-861-to-864-repealed-pub-l-92181-title-v-5-26-a-dec-10-1971-85-s--181d47516d.md
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Source location: Title 12, Chapter 7, § 861 to 864; chapter-007-farm-credit-administration.md
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### Statutory Notes
Section 801, acts July 17, 1916, ch. 245, title I, § 15, 39 Stat. 373; Ex. Ord. No. 6084, Mar. 27, 1933; Aug. 18, 1959, Pub. L. 86–168, title I, § 104(h), 73 Stat. 387, authorized loans by Federal land banks through agents. See [section 2020 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2020&num=0&edition=prelim).
Section 802, acts July 17, 1916, ch. 245, title I, § 15, 39 Stat. 373; Aug. 18, 1959, Pub. L. 86–168, title I, § 104(h), 73 Stat. 387, covered manner of making loan through agents. See [section 2020 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2020&num=0&edition=prelim).
Section 803, act July 17, 1916, ch. 245, title I, § 15, 39 Stat. 373, placed limits on who could be employed as agent. See [section 2020 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2020&num=0&edition=prelim).
Section 804, act July 17, 1916, ch. 245, title I, § 15, 39 Stat. 373, covered expenses of and commissions to agents. See [section 2020 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2020&num=0&edition=prelim).
Section 805, act July 17, 1916, ch. 245, title I, § 15, 39 Stat. 373, provided for addition of expenses of agents to loans. See [section 2020 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2020&num=0&edition=prelim).
Section 806, act July 17, 1916, ch. 245, title I, § 15, 39 Stat. 373, covered collection of loan payments. See [section 2020 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2020&num=0&edition=prelim).
Section 807, act July 17, 1916, ch. 245, title I, § 15, 39 Stat. 373, covered indorsement of loans and liability thereon. See [section 2020 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2020&num=0&edition=prelim).
Section 808, acts July 17, 1916, ch. 245, title I, § 15, 39 Stat. 373; Ex. Ord. No. 6084, Mar. 27, 1933; Aug. 18, 1959, Pub. L. 86–168, title I, § 104(h), 73 Stat. 387, provided when loans were to cease. See [section 2020 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2020&num=0&edition=prelim).
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Real estate loans**
(1) **Maximum level of loans**
(A) *In general* — Real estate mortgage loans originated by a Farm Credit Bank, or in which a Farm Credit Bank participates in with a lender that is not a System institution, shall not exceed 85 percent of the appraised value of the real estate security, except as provided for in subparagraphs (C) and (D).
(B) *Regulation* — The Farm Credit Administration may, by regulation, require that loans not exceed 75 percent of the appraised value of the real estate security.
(C) *Guaranteed loans* — If the loan is guaranteed by Federal, State, or other governmental agencies, the loan may not exceed 97 percent of the appraised value of the real estate security, as may be authorized under regulations of the Farm Credit Administration.
(D) *Private mortgage insurance* — A loan on which private mortgage insurance is obtained may exceed 85 percent of the appraised value of the real estate security to the extent that the loan amount in excess of such 85 percent is covered by the insurance.
(2) **Security** — All loans originated or participated in by a bank under this section shall be secured by first liens on interests in real estate of such classes as may be prescribed by regulations of the Farm Credit Administration.
(3) **Value of security** — To adequately secure the loan, the value of security shall be determined by appraisal under standards prescribed by the bank in accordance with regulations of the Farm Credit Administration.
(4) **Additional security** — Additional security for any loan may be required by the bank to supplement real estate security. Credit factors, other than the ratio between the amount of the loan and the security value, shall be given due consideration.
**(b) Intermediate credit** L
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