Federal Agricultural Mortgage Corporation
AGM-PE
New York Stock Exchange20.52
USD
-0.23
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Federal Agricultural Mortgage Corporation
AGM-PE
(New York Stock Exchange)
Recent
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20.52
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- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Federal Agricultural Mortgage Corporation, known commonly as Farmer Mac, provides a robust secondary market for loans extended to borrowers throughout rural America. The federally chartered entity operates across several core business areas designed to enhance liquidity and credit availability. These encompass Agricultural Real Estate, USDA Guaranteed Loan Programs, Rural Infrastructure Finance, and Lender and Institutional Solutions. The Agricultural Real Estate segment involves acquiring and holding eligible mortgage loans secured by first liens on agricultural properties, including farms and ranches. It also facilitates the securitization of these loans, providing assurances for the timely payment of principal and interest on the resulting securities, and issues long-term standby purchase commitments for designated eligible mortgages. The USDA Guaranteed Loan Programs segment specifically purchases portions of agricultural and rural development loans that are backed by guarantees from the United States Department of Agriculture, offering lenders a pathway for capital relief and liquidity. The Rural Infrastructure Finance segment focuses on supporting essential services by acquiring and guaranteeing securities tied to loans for power, utilities, broadband infrastructure, and renewable energy facilities, primarily from lenders organized as cooperatives. This segment also directly purchases eligible rural utility loans and offers standby purchase commitments for pools of these financing vehicles. Finally, the Lender and Institutional Solutions segment provides capital and risk management for financial institutions serving rural communities. This includes offering wholesale financing and credit protection through the guarantee and purchase of general obligations from lenders, backed by pools of loans that qualify under Farmer Mac's agricultural real estate, USDA guarantee, or rural infrastructure offerings. Established in 1987, Federal Agricultural Mortgage Corporation maintains its headquarters in Washington, District of Columbia, having recently unveiled new office space in August 2024.