The Federal Agricultural Mortgage Corporation, commonly known as Farmer Mac, was founded in 1987 as a government-sponsored enterprise with the goal of providing a secondary market for agricultural real estate and rural housing mortgage loans [42d21c71]. Despite facing skepticism in its early years, Farmer Mac proved its critics wrong by successfully navigating through the turbulent times of the agricultural sector. It expanded its product offerings, diversified its portfolio, and improved its risk management practices. Farmer Mac also embraced technology, innovation, and sustainability, becoming a recognized leader in the agricultural finance industry [42d21c71].
Today, Farmer Mac plays a vital role in supporting the growth and development of the agricultural sector by providing farmers and rural communities with access to affordable financing. It has evolved and adapted to meet the changing needs of the industry, becoming a trusted source of funding for farmers and rural communities [42d21c71].