Company: AGM-PH
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000845877-25-000204
Chunk: 109

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 109
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 on the average 90-day delinquency rate as a percentage of the Agricultural Finance mortgage loan portfolio over the last 15 years. In the near-term, our delinquency rate may continue to be near or exceed our historical average due to the current agricultural cycle or changes in the general economy or unforeseen and idiosyncratic events like adverse weather events. The 

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highest 90-day delinquency rate observed during the last 15 years occurred in 2009 at approximately 2%, which coincided with increased delinquencies in loans within Farmer Mac's ethanol loan portfolio.

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:   June 30, 2025$12,836,478 $125,868 0.98 %March 31, 202512,389,478 159,977 1.29 %December 31, 202412,369,477 108,944 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 %

Across all of Farmer Mac's lines of business, 90-day delinquencies represented 0.41% of total outstanding business volume as of June 30, 2025, compared to 0.37% as of December 31, 2024 and 0.22% as of June 30, 2024.

The following table presents outstanding Agricultural Finance mortgage loans and 90-day delinquencies as of June 30, 2025 by year of origination, geographic region, commodity/collateral type, original loan-to-value ratio, and range in the size of borrower exposure:

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Table