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Stockholder-owned, publicly traded company
- The Federal Agricultural Mortgage Corporation, also known as Farmer Mac, is a stockholder-owned, publicly traded company that was chartered by the United States federal government in 1988 to serve as a secondary market in agricultural loans such as mortgages for agricultural real estate and rural housing.
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The Federal Agricultural Mortgage Corporation, also known as Farmer Mac, is a stockholder-owned, publicly traded company that was chartered by the United States federal government in 1988 to serve as a secondary market in agricultural loans such as mortgages for agricultural real estate and rural housing.
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- What Is The Federal Agricultural Mortgage Corporation (Famc)?
- Understanding The Federal Agricultural Mortgage Corporation
- Federal Agricultural Mortgage Corporation (FAMC) Functionality
- Special Considerations
The Federal Agricultural Mortgage Corporation (FAMC)—also known as Farmer Mac—was founded by an act of Congress in 1987 in response to the farm crisis in the United States. The crisis caused thousands of farmers to default on their loans and also resulted in the failure of many agricultural banks. Congress established the Federal Agricultural Mortg...
The creation of the Federal Agricultural Mortgage Corporation (FAMC) was a result of a combination of decreased farm incomeand increased interest rates. These two pressures led to a crisis among agricultural borrowers. In 1987, Congress responded to the emergency by approving the Agricultural Credit Act, which created Farmer Mac. In the years that ...
Farmer Mac operates its secondary market activities through four lines of business: Farm & Ranch, USDA Guarantees, Rural Utilities, and Institutional Credit. Farmer Mac’s function within the marketplace is similar to that of other government-sponsored enterprises (GSEs), such as Fannie Mae and Freddie Mac. It purchases retail loans and then repacka...
Like other GSEs, Farmer Mac facilitates the borrowing process and costs for agricultural borrowers. This loan activity creates significant risk for the agency, especially in times of financial crisis. Widespread mortgage defaults put stress on Farmer Mac’s ability to guarantee loans. Higher interest rates may also lead to higher repayment risk and ...
- Elizabeth Blessing
Apr 13, 2022 · Created in 1988, the Federal Agricultural Mortgage Corporation, or Farmer Mac, provides a secondary market for agricultural real estate mortgage loans, rural housing loans, and rural cooperative loans.
Farmer Mac is driven by its mission to increase the accessibility of financing for American agriculture and rural infrastructure. As a secondary market for our nation’s agricultural and rural infrastructure credit, we provide financial solutions to a broad spectrum of customers supporting rural America, including agricultural lenders ...
Under Farmer Mac’s congressional charter, its official name is the Federal Agricultural Mortgage Corporation. However, the Board of Directors has authorized the corporation to conduct business as Farmer Mac.
Farmer Mac oversight. Through the Office of Secondary Market Oversight, the Farm Credit Administration regulates, supervises, and examines the Federal Agricultural Mortgage Corporation or Farmer Mac. We ensure that Farmer Mac remains financially sound, fulfills its mission, and complies with all laws and regulations that apply.