Company: AGM-PH
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000845877-25-000152
Chunk: 99

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 99
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 first quarter 2025 was 51%, compared to 49% for loans purchased during first quarter 2024. The weighted-average original loan-to-value ratio for Farm & Ranch mortgage loans and loans underlying off-balance sheet Farmer Mac Guaranteed Securities and LTSPCs was 52% as of both March 31, 2025 and December 31, 2024. The weighted-average original loan-to-value ratio for all 90-day delinquencies was 54% and 53% as of March 31, 2025 and December 31, 2024, respectively.

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The weighted-average current loan-to-value ratio (the loan to-value ratio based on original appraised value and current outstanding loan amount adjusted to reflect amortization) for Agricultural Finance mortgage loans and loans underlying off-balance sheet Farmer Mac Guaranteed Securities and LTSPCs was 47% and 46% as of March 31, 2025 and December 31, 2024, respectively.

The following table presents the current loan-to-value ratios for the Agricultural Finance mortgage loans to which Farmer Mac has direct credit exposure, as disaggregated by internally assigned risk ratings:

Table 25Agricultural Finance Mortgage Loans current loan-to-value ratio by internally assigned risk rating as of March 31, 2025AcceptableSpecial MentionSubstandardTotal(in thousands)Current loan-to-value ratio(1):0.00% to 40.00%$3,355,879 $88,301 $75,984 $3,520,164 40.01% to 50.00%2,790,050 170,028 84,074 3,044,152 50.01% to 60.00%2,765,964 107,074 158,490 3,031,528 60.01% to 70.00%1,530,094 109,631 56,717 1,696,442 70.01% to 80.00%133,382 28,947 51,449 213,778 80.01% and greater22,204 36,111 14,710 73,025 Enterprise Value(2)785,863 — 24,526 810,389 Total$11,383,436 $540,092 $465,950 $12,389,478 

(1)The current loan-to-value ratio is based on original