Is Farmer Mac a government agency?

Farmer Mac is an independent agency in the executive branch of the U.S. government and is regulated by the Farm Credit Administration (FCA). What Are Farmer Mac's Business Segments? Farmer Mac has four business segments, which are Farm & Ranch, USDA Guarantees, Rural Utilities, and Institutional Credit.

What is the federal Agricultural Mortgage Corporation (FAMC)?

The Federal Agricultural Mortgage Corporation (FAMC)—also known as Farmer Mac—was founded by an act of Congress in response to the U.S. farm crisis of the 1980s. The combination of increased interest rates and a decline in the demand for agricultural products caused many American farmers to default on their loans and declare bankruptcy.

Why was the federal Agricultural Mortgage Corporation created?

The creation of the Federal Agricultural Mortgage Corporation (FAMC) was a result of a combination of decreased farm income and increased interest rates. These two pressures led to a crisis among agricultural borrowers. In 1987, Congress responded to the emergency by approving the Agricultural Credit Act, which created Farmer Mac.