Company: AGM-PH
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0000845877-25-000252
Chunk: 54

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 54
---
Available-for-sale:AgVantage5,522,712 675,000 (560,643)100 102,036 13,180 5,752,385 Farmer Mac Guaranteed Securities9,767 — (523)— — 62 9,306 Total available-for-sale5,532,479 675,000 (561,166)100 102,036 13,242 5,761,691 USDA Securities:Trading1,241 — (414)— 15 — 842 Total USDA Securities1,241 — (414)— 15 — 842 Guarantee and commitment obligations:Guarantee Asset5,831 — (256)— (19)— 5,556 Total Guarantee and commitment obligations5,831 — (256)— (19)— 5,556 Total Assets at fair value$5,558,633 $675,000 $(561,836)$102 $102,032 $13,636 $5,787,567 

46

The following tables present additional information about the significant unobservable inputs, such as discount rates and constant prepayment rates ("CPR"), used in the fair value measurements categorized in Level 3 of the fair value hierarchy as of September 30, 2025 and December 31, 2024:Table 9.3As of September 30, 2025Financial InstrumentsFair ValueValuation TechniqueUnobservable InputRange             (Weighted-Average)(in thousands)Assets:Investment securities:Floating rate auction-rate certificates backed by Government guaranteed student loans$19,482 Indicative bidsRange of broker quotes99.0% - 99.0% (99.0%)Farmer Mac Guaranteed Securities:AgVantage$5,845,642 Discounted cash flowDiscount rate4.4% - 5.1% (4.6%)Farmer Mac Guaranteed Securities$8,456 Discounted cash flowDiscount rate4.5%CPR3%USDA Securities$456 Discounted cash flowDiscount rate4.9% - 5.1% (4.9%)CPR11% - 13% (12%)Guarantee Asset$5,049 Discounted cash flowDiscount rate4.5%CPR3%As of December 31, 2024Financial InstrumentsFair ValueValuation TechniqueUnobservable InputRange