Company: AGM-PH
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000845877-25-000033
Chunk: 215

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 215
---
 period occurred in 2009 at approximately 2%, which coincided with increased delinquencies in loans within Farmer Mac's ethanol loan portfolio.

88

The following table presents historical information about Farmer Mac's 90-day delinquencies in the Agricultural Finance mortgage loan portfolio compared to the unpaid principal balance of all Agricultural Finance mortgage loans to which Farmer Mac has direct credit exposure:

Table 23Agricultural Finance Mortgage Loans90-DayDelinquenciesPercentage (dollars in thousands)As of:   December 31, 2024$12,369,477 $108,944 0.88 %September 30, 202411,466,670 144,407 1.26 %June 30, 202411,409,396 62,063 0.54 %March 31, 202411,184,817 76,825 0.69 %December 31, 202311,223,276 34,677 0.31 %September 30, 202311,014,678 42,443 0.39 %June 30, 202310,826,201 45,368 0.42 %March 31, 202310,680,419 70,646 0.66 %December 31, 202210,719,571 43,498 0.41 %

Across all of Farmer Mac's lines of business, 90-day delinquencies represented 0.37% of total outstanding business volume as of December 31, 2024, compared to 0.12% as of December 31, 2023 and 0.17% as of December 31, 2022.

The following table presents outstanding Agricultural Finance mortgage loans and 90-day delinquencies as of December 31, 2024 by year of origination, geographic region, commodity/collateral type, original loan-to-value ratio, and range in the size of borrower exposure:

89

Table 24

Agricultural Finance Mortgage Loans 90-Day Delinquencies as of December 31, 2024 Distribution of Agricultural LoansAgricultural Loans90-Day Delinquencies(1)Percentage (dollars in thousands)By year of origination:    2014 and prior7 %$815,515 $2,697 0.33 %20152 %274,556 789 0