AGM

Federal Agricultural Mortgage Corp., commonly known as Farmer Mac, is a stockholder-owned, federally chartered corporation that provides a secondary market for agricultural real estate and rural housing mortgage loans. The company purchases, guarantees, and securitizes loans secured by agricultural real estate, rural residential properties, and certain agricultural assets, providing liquidity to agricultural lenders including commercial banks, Farm Credit System institutions, and other financial entities. Farmer Mac's mission is to increase the availability and affordability of credit for America's farmers, ranchers, and rural communities. The company operates under federal charter with an implicit government backstop, though it is not a government agency. Farmer Mac generates revenue through net interest income, guarantee and commitment fees, and gains on financial instruments. Founded in 1988 and headquartered in Washington, D.C., Farmer Mac plays a critical role in agricultural finance infrastructure. The company benefits from stable agricultural lending demand, its unique charter, and portfolio diversification across crops, livestock, and permanent plantings while managing credit risk, interest rate risk, and agricultural commodity exposure.