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 Farmer Mac |
The Federal Agricultural Mortgage Corporation
(Farmer Mac) provides secondary marketing arrangements, certifies marketing facilities in order to promote a secondary market for agricultural and rural home mortgage loans that meet certain underwriting standards, and is authorized to be a direct pooler of farm mortgage loans.
The board of directors of Farmer Mac has 15 members, five of whom are elected from the System.
Farmer Mac is regulated by the FCA and is designated by statute as a System entity.
However, the financial information of Farmer Mac is not included in the combined financial statements of the System.
Other than the contractual obligations arising from certain business transactions between Farmer Mac and certain System institutions, Farmer Mac is not liable for any debt or obligation of any other System institution, and no System institution other than Farmer Mac is liable for any debt or obligation of Farmer Mac.
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