Federal Agricultural Mortgage Corporation (NYSE: AGM), commonly known as Farmer Mac, is a publicly traded stockholder-owned instrumentality of the United States chartered by Congress in 1988 under the Agricultural Credit Act. The company was established to foster a secondary market for agricultural real estate mortgage loans and rural utilities loans, providing a reliable source of funding for agricultural producers, rural homeowners and agribusinesses. By purchasing loans and issuing guaranteed securities, Farmer Mac enhances the availability of long-term credit to its customers.
Farmer Mac’s primary business activities include purchasing agricultural real estate loans, rural housing loans and certain types of agribusiness loans, and then securitizing them into guaranteed mortgage-backed securities (MBS). It offers two core guarantee programs: one for traditional agricultural real estate loans and another for rural utility cooperatives with loans secured by electric, telecommunications or water facilities. Both programs carry an explicit guarantee of timely payment on principal and interest, supported by Farmer Mac’s capital and reserves.
Operating across all 50 states of the United States, Farmer Mac serves a diverse customer base of banks, Farm Credit System associations and other agricultural lenders. The company’s nationwide footprint enables consistent underwriting standards and robust risk management practices, ensuring liquidity and stability in the agricultural finance market. Through ongoing innovation in product offerings, technology platforms and risk management tools, Farmer Mac seeks to address emerging financing needs within the rural economy.
Led by President and Chief Executive Officer Michael J. Heinz, Farmer Mac maintains a governance structure focused on sound financial stewardship and regulatory compliance. The company’s board of directors and executive leadership team bring extensive experience in agricultural finance, capital markets and risk oversight. With a mission to strengthen rural America by improving access to affordable credit, Farmer Mac continues to play a pivotal role in supporting the long-term sustainability of the nation’s agricultural sector.
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