Federal Agricultural Mortgage Corporation, doing business as Farmer Mac (NYSE: AGM.A), is a congressionally chartered, stockholder-owned company established to provide a secondary market for agricultural real estate and rural housing mortgage loans. As a government-sponsored enterprise, Farmer Mac facilitates liquidity and lending capacity for agricultural communities across the United States by purchasing and guaranteeing loans originated by agricultural lenders. The company’s mission is to broaden credit availability, support rural economic development, and help stabilize the agricultural mortgage market.
Farmer Mac’s core activities include purchasing guaranteed agricultural mortgage loans and issuing securities backed by those loans. The company offers a range of products, such as guaranteed loan purchase programs, guaranteed agricultural mortgage-backed securities, and rural utilities and cooperative finance certificates. By standardizing mortgage documentation and risk management practices, Farmer Mac enables lenders—such as Farm Credit institutions, commercial banks, and community banks—to free up capital for new lending opportunities while managing interest-rate and credit risks.
Created under the Agricultural Credit Act of 1987, Farmer Mac began operations in 1988 with the aim of strengthening the agricultural credit infrastructure. Headquartered in Washington, D.C., the company operates nationwide, serving lenders and borrowers in all 50 states and selected U.S. territories. Over its history, Farmer Mac has expanded its offerings to include loan guaranty options for small rural housing projects and essential rural utilities, adapting to evolving market needs and regulatory developments.
Farmer Mac is governed by a board of directors composed of individuals with expertise in agriculture, finance, and risk management, and supported by a professional executive management team. The leadership’s collective experience in farm lending, capital markets, and regulatory affairs guides the company’s strategic initiatives, ensuring that Farmer Mac remains a reliable partner for agricultural lenders and rural communities seeking long-term financing solutions.
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