Company: AGM-PH
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000845877-25-000152
Chunk: 100

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 100
---
 appraised value (or most recently obtained valuation, if available) and current outstanding loan amount adjusted to reflect loan amortization.

(2)"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. 

83

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 March 31, 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 26Agricultural Finance Mortgage Loans Credit Losses Relative to CumulativeOriginal Loans, Guarantees, and LTSPCs as of March 31, 2025Cumulative Original Loans, Guarantees and LTSPCs Cumulative Net Credit Losses/(Recoveries) Cumulative Loss Rate (dollars in thousands)By year of origination:   2015 and prior$21,180,781 $33,270 0.16 %20161,629,118 971 0.06 %20171,742,187 4,311 0.25 %20181,468,333 — — %20191,678,396 — — %20203,099,319 — — %20213,458,308 297 0.01 %20222,076,840 455 0.02 %20231,469,420 3,859 0.26 %20241,879,692 — — %2025541,503 — %Total$40,223,897 $43,163 0.11 %By geographic region(1):   Northwest$4,925,008 $12,162 0.25 %Southwest13,065,658 12,401 0.09 %Mid-North9,952,099 17,165 0.17 %Mid-South