Company: AGM-PH
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000845877-25-000033
Chunk: 110

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1
Chunk 110
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curitization transactions1XLoan servicingXOther Farmer Mac Guaranteed Securities1X

1 These categories comprise "Farmer Mac Guaranteed Securities."

The loans (and interests in those loans) eligible for Farmer Mac's secondary market activities in each of Farmer Mac's lines of business include: 

•mortgage loans secured by first liens on real estate used in agricultural production or processing, including part-time farms and rural housing loans, as well as agricultural and rural development loans guaranteed by the United States Department of Agriculture ("USDA") in the Agricultural Finance line of business; and

•loans by lenders organized as cooperatives to finance electrification and telecommunications systems and renewable energy providers or projects in rural areas in the Infrastructure Finance line of business.

As of December 31, 2024, the total outstanding business volume in Farmer Mac's two lines of business (Agricultural Finance and Infrastructure Finance) was $29.5 billion. The following table presents the outstanding balances under Farmer Mac's two lines of business as of December 31, 2024 and 2023:

8

Lines of Business - Outstanding Business VolumeOn or Off Balance SheetAs of December 31, 2024As of December 31, 2023(in thousands)Agricultural Finance:Farm & Ranch:LoansOn-balance sheet$5,414,732 $5,133,450 Loans held in consolidated trusts:Beneficial interests owned by third-party investors (single-class)(1)On-balance sheet885,295 870,912 Beneficial interests owned by third-party investors (structured)(1)On-balance sheet1,152,988 561,349 IO-FMGS(2)On-balance sheet8,710 9,409 USDA SecuritiesOn-balance sheet2,402,423 2,368,872 AgVantage Securities(1)On-balance sheet4,720,000 5,835,000 LTSPCs and unfunded loan commitmentsOff-balance sheet3,070,554 2,999,943 Other Farmer Mac Guaranteed Securities(3)Off-balance sheet426,310 452,602 Loans serviced for othersOff-balance sheet525,956 577,264 Total Farm & Ranch$18,606,968 $18,808,801 Corporate AgFinance:LoansOn-balance sheet$1,381,674 $1,259,723 AgVantage Securities(