Company: AGM-PH
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0000845877-25-000252
Chunk: 298

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 2
Chunk 298
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, 2025AcceptableSpecial MentionSubstandardTotal(in thousands)Current loan-to-value ratio:Less than 40.00%$3,488,935 $94,948 $113,298 $3,697,181 40.00% to 60.00%5,708,288 275,962 204,208 6,188,458 60.01% to 80.00%1,860,162 190,352 125,312 2,175,826 80.01% to 100%39,190 12,161 23,569 74,920 Greater than 100%35,557 31,434 27,670 94,661 Enterprise Value(1)845,536 19,038 27,058 891,632 Total$11,977,668 $623,895 $521,115 $13,122,678 

(1)"Enterprise Value" loans are generally secured by all business assets and common stock (in addition to first lien mortgages) of the borrower and the value of the borrowing entity depends on its ability to generate recurring positive cash flow. Enterprise Value is the estimated value of the borrower as a going concern, which is estimated using one or more valuation techniques such as discounted cash flow, cash flow multiples, asset liquidation, or other valuation techniques. 

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The following table presents Farmer Mac's cumulative net credit losses relative to the cumulative original balance for all Agricultural Finance mortgage loans as of September 30, 2025 by year of origination, geographic region, and commodity/collateral type. The purpose of this table is to present information about realized credit losses relative to original Farm & Ranch purchases, guarantees, and commitments.

Table 24Agricultural Finance Mortgage Loans Credit Losses Relative to CumulativeOriginal Loans, Guarantees, and LTSPCs as of September 30, 2025Cumulative Original Loans, Guarantees and LTSPCs Cumulative Net Credit Losses/(Recoveries) Cumulative Loss Rate (dollars in thousands)By year of origination:   2015 and prior$21,199,787 $33,270 0.16 %20161,643,272 971 0.06 %20171,758,614 4,310 0.25 %20181,496,049