The Veterans Farm and Home Board (VFHB) was created to assist veterans in procuring homes and farms. This performance evaluation ascertained the effectiveness of the loan program’s administration and reviewed the conformity of the program with legislative intent.
Although a correlation existed between counties receiving a high percentage of loans and counties having representation on the VFHB, it was a result of increased publicity in the counties in which the board members live. VFHB loans should have been distributed more widely among the eighty-two counties, however.
The VFHB computerized its operations, reduced delinquent accounts, and imposed late fees. The insurance policies held by the veterans were up-to-date. However, refunds from excess premium payments in 1950-1968 were used to make other loan commitments instead of being used to give the veterans a premium holiday or to offset heavy claims experience.
Money paid to the VFHB should be transferred to the State Treasury twice a month to reduce the time that the money was idle. Legislation to allow the VFHB to use savings accounts instead of checking accounts was recommended.
The report concluded that the staff of the VFHB was doing a good job of administering the loan program.
For a paper copy of this report, contact PEER by telephone at 601-359-1226 or by e-mail at reports@peer.ms.gov.