The Federal Agricultural Mortgage Corporation has announced that it has completed a $318.8 million securitization of agricultural mortgage loans. This is Farmer Mac's fifth transaction in the FARM series since 2021.
"We are very pleased with the execution of our fifth agricultural mortgage-backed securitization (AMBS) transaction, FARM 2024-2, as we returned to the market for a second time in 2024," said President and Chief Executive Officer, Brad Nordholm.
The mortgage pool for FARM Series 2024-2 consists of 446 agricultural mortgage loans with an aggregate outstanding principal balance of approximately $318.8 million. The loans in the pool were underwritten to Farmer Mac's industry-leading standards that focus on repayment capacity through stressed inputs. This deal included a $294.9 million senior tranche guaranteed by Farmer Mac and a $23.9 million unguaranteed subordinate tranche.
"We are once again thrilled to see such strong demand for our FARM securitization program from a broad range of investors," said Chief Financial Officer and Treasurer, Aparna Ramesh.
For more information: 
Farmer Mac
farmermac.com/