The Federal Agricultural Mortgage Corporation
The Federal Agricultural Mortgage Corporation, commonly known as Farmer Mac, was created by Congress to establish a secondary market for agricultural mortgage and rural utilities loans to increase the availability of long-term credit at stable interest rates to segments of rural America. As a stockholder-owned, publicly-traded corporation, Farmer Mac, along with its subsidiary Farmer Mac II, LLC., conducts these activities through four programs - - Farm & Ranch, USDA Guarantees, Rural Utilities, and Institutional Credit. Farmer Mac is not a direct lender, instead working with lenders that work directly with borrowers throughout the United States. The Corporation’s headquarters are in Washington, D.C.; it has an underwriting office in Johnston, IA.