Federal Agricultural Mortgage Corporation


Federal Agricultural Mortgage Corporation (Farmer Mac)

A federal agency chartered in 1988 to provide a secondary market for farm mortgage loans.

Farmer Mac

Informal for Federal Agricultural Mortgage Corporation. A publicly-traded company chartered by the U.S. Congress to provide a secondary market for mortgages granted for agricultural real estate and rural housing. In order to do this, it buys mortgages and repackages them, selling them as mortgage-backed securities. Farmer Mac was established to make real estate easier to purchase for farmers, ranchers, and rural citizens. It was established in 1988. See also: Farm Credit System, Fannie Mae, Freddie Mac.

Federal Agricultural Mortgage Corporation (FAMC)

Commonly called Farmer Mac (www.farmermac.com), it is one of the system entities in the Farm Credit System. Its purpose is to attract new capital for the financing of agricultural real estate and to provide liquidity to agricultural lenders.