To amend the Consolidated Farm and Rural Development Act to require borrower good faith with respect to Farmers Home Administration loans; to improve the management of such delinquent loans, including limiting the write-down of such loans, and for other purposes.

[AI summary unavailable — showing source text] Amends the Consolidated Farm and Rural Development Act with regard to Farmers Home Administration loans to repeal the requirement that the Secretary of Agriculture sell inventory farmland to family farmers at a price reflective of the land's anticipated average income. Requires borrower good faith with regard to loan eligibility or farmland purchase. Authorizes the Secretary to consider all the assets of a borrower in calculating a restructured loan's value. Limits: (1) each borrower to one write-down; and (2) the total amount of any such write-down. Extends deadlines for loan service applications and application processing.…