Farmer Mac / AGM
A farmer and his agricultural loan officer look over the final details of his Farmer Mac loan. (Photo: Courtesy of company.)
About Farmer Mac
1133 21st St. NW, Washington, D.C. 20036
www.farmermac.com
| 202-872-7700
| Founded: 1988
Industry: Financial Services | Category: Top 100 Companies
Farmer Mac's special advantages, including lower capital requirements and a backup line of credit to the U.S. Treasury, have come under question in recent years from critics, including competitors, who said the corporation had an unfair competitive advantage. The Farm Credit Administration, which regulates Farmer Mac, responded by proposing new rules that raise the corporation's capital requirements. One new regulation became effective on Sept. 30.
In a November conference call, Farmer Mac chief executive Henry D. Edelman said the corporation's new business with agricultural mortgage lenders was being hampered by, among other things, high levels of capital and liquidity by these lenders and increased competition in the secondary market.
Farmer Mac's loan portfolio and guarantees reached $5.8 billion in January 2006, up from $5.5 billion at the end of 2004.
President and CEO: Henry D. Edelman
President and CEO: Henry D. Edelman
2007 Financial Data
Total employees: 46 | Local employees: 41Company Leadership
| Henry D. Edelman | President and CEO |
| Nancy E. Corsiglia | VP, Finance and CFO |
| Tom D. Stenson | VP, Agricultural Finance |
| Michael P. Morris | VP, agricultural credit |
| Timothy L. Buzby | VP, Controller |
Source: Compensation data provided by Equilar, Inc..
Did You Know
Farmer Mac, formally known as the Federal Agricultural Mortgage Corp., is a government-sponsored, stockholder-owned enterprise that buys farm mortgages from lenders and holds them in its portfolio or sells them to investors. Created by Congress in 1987, its primary mission is to ensure that banks and independent associations that make up the Farm Credit System have cash for farm mortgages.
