Lender Access	Farm and Ranch Mortgage Loans	Farmer Mac III Options	Loan Delivery	Products	Portfolio Programs
Farmer Mac I Cash Window Farmer Mac uses the “Cash Window” to purchase mortgage loans directly from Sellers. At the Cash Window, Sellers obtain loan credit approvals, lock-in interest rates and deliver the loans within the rate lock period. Types of loans purchased Farm loans: commercial farm and ranch loans of all types Cash Window sale Seller assembles “Preliminary Loan Package” and submits it using Farmer Mac's Ag Power® LOS (Loan Origination System) for credit approval. Submitting the appraisal at this stage is optional. If the loan qualifies, Farmer Mac gives the Seller preliminary loan approval, with the loan then eligible for rate lock. The Seller locks the interest rate through Farmer Mac and completes title, appraisal and closing documents. The Seller closes the loan, submits final loan documents and appraisal to Farmer Mac for final review. After final review, Farmer Mac purchases the loan. At the Sellers request, Farmer Mac can table fund the loan. Table funding is the process by which Farmer Mac wires loan purchase funds directly into the loan closing process, with the Seller executing a simultaneous assignment document. Under this mechanism, institutions may close loans without advancing funds of their own. Information needed to approve a loan Farmer Mac has a “Preliminary Approval Checklist” to guide Sellers in assembling a loan package. Farm loans may be submitted on the Sellers’ loan forms or on ones available through Farmer Mac. Cash Window rates Indicative rates are published daily in the “Approved Seller Information” section of Farmer Mac’s website. Actual rates are set at the time of a specific rate lock request. Standard rate lock periods are for 1 week, 4 weeks and 8 weeks. The Seller selects the appropriate commitment/delivery period based on the work that needs to be completed before closing, such as appraisal and title work. Farm rates are quoted as the “Servicing Released Net Yield,” which is the rate to the Seller and includes all fees except the field servicing fee which is determined by the Seller and added to the Net Yield to determine the loan rate. Farm loan servicing responsibilities Field servicing is the responsibility of the Seller and primarily consists of monitoring taxes and insurance. Inspecting collateral and requesting annual financial may be necessary in certain cases. In the case of default, work closely with the borrower to resolve loan delinquencies. Central servicing is performed by an institution under contract to Farmer Mac. The central servicers are responsible for billing and collecting installment payments, accounting and reporting to the pool trustee and handling collection and foreclosure issues if needed. Accessing Farmer Mac Farm lenders can access Farmer Mac I programs either by becoming a Farmer Mac Seller or by becoming a third-party originator for an approved Seller.