Farmer Mac Closes $308.1 Million Securitization of Agricultural Mortgage-Backed Securities (AMBS)
"We are very pleased with the execution of our fourth agricultural mortgage-backed securitization (AMBS) transaction, FARM 2024-1, as we return to the market in the new year," says President and Chief Executive Officer,
The mortgage pool for FARM Series 2024-1 consists of 443 agricultural mortgage loans with an aggregate outstanding principal balance of approximately
"We have witnessed significant volatility in the credit markets over the past year and the fact that we were able to generate more than three times the demand for this offering is a testament to Farmer Mac's reputation with institutional investors and the overall market appetite for the underlying agricultural asset class," said Chief Financial Officer & Treasurer,
About Farmer Mac
As a Government Sponsored Enterprise driven by our Congressional charter to help build a strong and vital rural America, Farmer Mac creates a secondary market that increases access to credit for the benefit of American agricultural, rural utilities, and rural communities. By offering innovative financial products, Farmer Mac enables lenders to offer flexible and competitive financing to eligible farmers, ranchers, agribusinesses, and rural infrastructure providers. Farmer Mac's customers benefit from its long-term financing, low cost of funds, low overhead costs, and high operational efficiency. More information about Farmer Mac is available on Farmer Mac's website at www.farmermac.com.
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SOURCE Farmer Mac