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Farmer Mac Volume Exceeds $6 Billion.(Federal Agricultural Mortgage Corp.)(Brief article)

Mortgage Servicing News

| July 01, 2006 | COPYRIGHT 2006 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

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 ...

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