Company: AGM-PH
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000845877-25-000033
Chunk: 76

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 76
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2024As of December 31, 2023  (in thousands)Agricultural Finance  Farmer Mac Guaranteed Securities$426,310 $452,602 Infrastructure Finance   Farmer Mac Guaranteed Securities— — Total off-balance sheet Farmer Mac Guaranteed Securities$426,310 $452,602 Eligible loans and other eligible assets may be placed into trusts that are used as vehicles for the securitization of the transferred assets and the Farmer Mac-guaranteed beneficial interests in the trusts are sold to investors. The following table summarizes the significant cash flows received from and paid to trusts used for Farmer Mac securitizations:Table 12.3 For the Years Ended December 31,  202420232022  (in thousands)Proceeds from new securitizations$648,442 $222,188 $357,841 Guarantee fees received1,484 1,620 1,852     Farmer Mac presents a liability for its obligation to stand ready under its guarantee in "Guarantee and commitment obligation" on the consolidated balance sheets. The following table presents the liability and the weighted-average remaining maturity of all loans underlying off-balance sheet Farmer Mac Guaranteed Securities:Table 12.4As of December 31, 2024As of December 31, 2023(dollars in thousands)Guarantee and commitment obligation$5,595 $5,969 Weighted average remaining maturity:  Farmer Mac Guaranteed Securities21.2 years21.9 years

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Long-Term Standby Purchase CommitmentsFarmer Mac has recorded a liability for its obligation to stand ready under the commitment in the guarantee and commitment obligation on the consolidated balance sheets. The following table presents the liability, the maximum principal amount of potential undiscounted future payments that Farmer Mac could be requested to make under all LTSPCs, not including offsets provided by any recourse provisions, recoveries from third parties, or collateral for the underlying loans, as well as the weighted-average remaining maturity of all loans underlying LTSPCs:Table 12.5As of December 31, 2024As of December 31, 2023(dollars in thousands)Guarantee and commitment obligation(1)$42,731 $41,594 Maximum principal amount4,029,019 3,680,333 Weighted-average remaining maturity14.5 years14.5 years