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What is Farmer Mac?

April 26, 2017farmer mac

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What is Farmer Mac?

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As provided in the Farm Credit Act, the Federal Agricultural Mortgage Corporation (Farmer Mac) was established to attract new capital for the financing of agricultural real estate and to provide liquidity to agricultural lenders. The board of directors of Farmer Mac has 15 members, five of whom are elected from the System. Farmer Mac is regulated by the Farm Credit Administration and is designated by statute as a System entity. However, the accounts of Farmer Mac are not included in the combined financial statements of the System. 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.