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WASHINGTON -- The Federal Agricultural Mortgage Corp., known informally as Farmer Mac, issued a long-term standby purchase commitment on a $479 million pool of agricultural real estate loans recently, bringing Farmer Mac's total portfolio of loans, guarantees and LTSPCs to over $6 billion, a new record for the company.
Farmer Mac's president and CEO, Henry Edelman, said in a news release that the $479 million LTSPC transaction advances the corporation's mission of improving the availability of long-term credit at stable interest rates for America's farmers, ranchers and rural homeowners. The LTSPC transaction with a Farm Credit System institution increases its ability to make additional agricultural real estate ...