Website: N/A
Stock Symbol: NYSE: AGM
Market Value: N/A (in millions)
The Federal Agricultural Mortgage Corporation (“Farmer Mac” or the
“Corporation”) was chartered by the U.S. Congress in the Agricultural Credit Act
of 1987 (12 U.S.C. §§ 2279aa et seq.), which amended the Farm Credit Act of 1971
(collectively, as amended, the “Act”). Farmer Mac is a stockholder-owned
instrumentality of the United States that was created to establish a secondary
market for agricultural real estate and rural housing mortgage loans and to
increase the availability of long-term credit at stable interest rates to
American farmers, ranchers and rural homeowners. Farmer Mac conducts these
activities through two programs—Farmer Mac I and Farmer Mac II. As of December
31, 2007, total volume in these two programs was $8.5 billion.