BNET Industries
Last Fiscal Year Sales:$324.8M
- Public
- US
Dow Jones Description
The Federal Agricultural Mortgage Corporation, commonly known as Farmer Mac, is a stockholder-owned, federally chartered instrumentality of the United States. Farmer Mac was created by Congress in 1988 to establish a secondary market for agricultural real estate and rural housing mortgage loans and to increase the availability of long-term credit at stable interest rates to American farmers, ranchers and rural homeowners. The Farmer Mac secondary market for agricultural mortgage loans accomplishes that public policy mission by providing liquidity and lending capacity to agricultural mortgage lenders by: - purchasing newly originated and pre-existing ("seasoned") eligible mortgage loans directly from lenders through its "cash window" and seasoned eligible mortgage loans from lenders and other third parties in negotiated transactions; - issuing long-term standby purchase commitments ("LTSPCs") for newly originated and seasoned eligible mortgage loans; - exchanging newly issued agricultural mortgage-backed securities guaranteed by Farmer Mac ("Farmer Mac Guaranteed Securities") for newly originated and seasoned eligible mortgage loans that back those securities in "swap" transactions; and - purchasing and guaranteeing mortgage backed bonds secured by eligible mortgage loans, which are referred to as AgVantage bonds.
Interim President & Chief Executive Officer
Michael A. GerberNumber of Employees 42
Contact Information
1133 21st St NW Ste 600
Washington, District of Columbia 20036
(202) 872-7700
Peer Companies
NAICS Code Real Estate Credit: 522292
Recent Events
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Federal Agricultural Mortgage AGM Posts Q3 EPS of $1.74, Better Y/Y
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Disaster recovery news briefs: SteelEye supports disaster recovery and business continuity for Windows Server 2008...
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Farmer Mac Reports Second Quarter Results --GAAP Earnings of $25 Million Grow Capital Surplus to...
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Farmer Mac Declares Quarterly Dividends on Common and Preferred Stock
News & Analysis
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federal agricultural mortgage corp. - All News and Analysis
Federal Agricultural Mortgage Corporation Q4 2008 Earnings Call Transcript
Question-and-Answer SessionOperator Thank you. Ladies and gentlemen, we will now be conducting a question and answer session. Operator instructions. Mr. Gerber, it appears we have no questions coming in from the phones at this time. Michael Gerber Well, if there are no questions, then thank you all for participating...
Federal Agricultural Mortgage Corp. Q3 2008 Earnings Call Transcript
Question-and-Answer Session Operator Thank you, ladies and gentlemen, we’ll now be conduction the question and answer session. Operator Instructions. Our first question is coming from George Mahger of Private Investor (ph 00:15:07). Please state your question. [George Mahger – Private Investor] My...
Will three times be the charm for Farmer Mac? A 1996 revamp adjusted deficiencies in powers and structure left by the 1987 blueprint. Now new efforts, including a partnership with ABA, promise to bring more banks into the fold.(Federal Agricultural Mortga
Most people celebrate anniversaries. But to Henry Edelman, Farmer Mac president and CEO since the agency's beginning, the upcoming 20th anniversary of the concept of Farmer Mac isn't the date to celebrate. For that matter, he says in a recent interview, neither is the 1989 launch...
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Decision Makers
| Name (plus bio) | Position |
|---|---|
| Michael A. Gerber | Interim President & Chief Executive Officer |
| Paul A. Debriyn | President and CEO, Agstar Financial Services, Aca |
| Brian J O'Keane | Senior Vice President and Cfo, Agribank, Fcb |
| Nancy E. Corsiglia | Executive Vice President, Finance, Chief Financial Officer |
| Tom D. Stenson | Executive Vice President, Agricultural Finance, Chief Operating Officer |
| Ernest M. Hodges | Executive Vice President, Farm Credit West, Aca |
| Jerome G. Oslick | Vice President, General Counsel, Corporate Secretary |
| Mary K. Waters | Vice President, Corporate Relations |
| Paul N. Peiffer | Vice President, Agricultural Credit |
| Timothy L. Buzby | Vice President, Controller |
| Julia Bartling | Owner and Operator, Bartling Feed, Grain and Trucking |
| James R Engebretsen | MBA Director and Assistant Dean, Marriott School of Management |
| Grace T. Daniel | Principal, Golden State Marketing Services, Sacramento, California |
| J Dan Raines Jr | Director |
Board of Directors
| Name (plus bio) | Position |
|---|---|
| Lowell L. Junkins | Acting Chairman |
| Brian P. Jackson | Board of Directors |
| Clark Maxwell | Board of Directors |
| Dennis A. Everson | Board of Directors |
| Dennis L. Brack | Board of Directors |
| Glen O. Klippenstein | Board of Directors |
| Grace Trujillo Daniel | Board of Directors |
| John Dan Raines | Board of Directors |
| John G. Nelson | Board of Directors |
| Kenneth E. Graff | Board of Directors |
| Mitchell A. Johnson | Board of Directors |
| Timothy Kenny | Board of Directors |
| Organization | Position | Status |
|---|---|---|
| Federal Agricultural Mortgage Corporation | Interim President & Chief Executive Officer | Current |
| Financial Partners, Inc. | Director | Current |
| Federal Agricultural Mortgage Corporation | Board of Directors | Current |
| Gcedc | Gcedc Board Member | Current |
| Farm Credit Co | Chief Executive Officer | Former |
| Farm Credit Co | President | Former |
| The Ohio State University | Bachelor's Degree In Agriculture | Former |
| Organization | Position | Status |
|---|---|---|
| Federal Agricultural Mortgage Corporation | President and CEO, Agstar Financial Services, Aca | Current |
| Federal Agricultural Mortgage Corporation | Board of Directors | Current |
| Organization | Position | Status |
|---|---|---|
| Federal Agricultural Mortgage Corporation | Senior Vice President and Cfo, Agribank, Fcb | Current |
| Federal Agricultural Mortgage Corporation | Board of Directors | Current |
| Organization | Position | Status |
|---|---|---|
| Federal Agricultural Mortgage Corporation | Executive Vice President, Finance, Chief Financial Officer | Current |
| Federal Agricultural Mortgage Corporation | Finance Executive | Current |
| Organization | Position | Status |
|---|---|---|
| Federal Agricultural Mortgage Corporation | Executive Vice President, Agricultural Finance, Chief Operating Officer | Current |
| Organization | Position | Status |
|---|---|---|
| Federal Agricultural Mortgage Corporation | Executive Vice President, Farm Credit West, Aca | Current |
| Federal Agricultural Mortgage Corporation | Board of Directors | Current |
| Organization | Position | Status |
|---|---|---|
| Federal Agricultural Mortgage Corporation | Vice President, General Counsel, Corporate Secretary | Current |
| Organization | Position | Status |
|---|---|---|
| Federal Agricultural Mortgage Corporation | Vice President, Corporate Relations | Current |
| Organization | Position | Status |
|---|---|---|
| Federal Agricultural Mortgage Corporation | Vice President, Agricultural Credit | Current |
| Organization | Position | Status |
|---|---|---|
| Federal Agricultural Mortgage Corporation | Vice President, Controller | Current |
| Organization | Position | Status |
|---|---|---|
| Federal Agricultural Mortgage Corporation | Owner and Operator, Bartling Feed, Grain and Trucking | Current |
| Federal Agricultural Mortgage Corporation | Board of Directors | Current |
| Organization | Position | Status |
|---|---|---|
| Federal Agricultural Mortgage Corporation | MBA Director and Assistant Dean, Marriott School of Management | Current |
| Federal Agricultural Mortgage Corporation | Board of Directors | Current |
| Organization | Position | Status |
|---|---|---|
| Federal Agricultural Mortgage Corporation | Principal, Golden State Marketing Services, Sacramento, California | Current |
| Federal Agricultural Mortgage Corporation | Board of Directors | Current |
| Organization | Position | Status |
|---|---|---|
| Federal Agricultural Mortgage Corporation | Acting Chairman | Current |
Prior to joining CoBank in 2000, Jackson was treasurer and senior vice president of finance and administrative services for New Century Energies (NCE), Inc., in Denver.
| Organization | Position | Status |
|---|---|---|
| Cobank | Executive Vice President and Chief Financial and Administrative Officer | Current |
| American Institute of Certified Public Accountants | Board of Directors | Current |
| Federal Agricultural Mortgage Corporation | Board of Directors | Current |
| American Institute of Certified Public Accountants | Member | Current |
| Ncea | Chief Financial Officer | Former |
| Mile High United Way | Board of Directors | Former |
| Big Brothers Big Sisters | Board of Directors | Former |
| Organization | Position | Status |
|---|---|---|
| Federal Agricultural Mortgage Corporation | Board of Directors | Current |
| Organization | Position | Status |
|---|---|---|
| Federal Agricultural Mortgage Corporation | Board of Directors | Current |
| Organization | Position | Status |
|---|---|---|
| Federal Agricultural Mortgage Corporation | Board of Directors | Current |
| Organization | Position | Status |
|---|---|---|
| Federal Agricultural Mortgage Corporation | Board of Directors | Current |
| Organization | Position | Status |
|---|---|---|
| Federal Agricultural Mortgage Corporation | Board of Directors | Current |
J. Dan Raines, Jr. is a beef producer from Ashburn, Georgia. His operations include commercial beef cattle, registered Angus cattle and timber. He serves as a director on the boards of AgGeorgia Farm Credit, ACA and the Federal Agricultural Mortgage Corporation (Farmer Mac). Mr. Raines serves as a member of the Board Compensation Committee.
| Organization | Position | Status |
|---|---|---|
| Federal Agricultural Mortgage Corporation | Director | Current |
| Agfirst | Board of Directors | Current |
| Organization | Position | Status |
|---|---|---|
| Federal Agricultural Mortgage Corporation | Board of Directors | Current |
| Organization | Position | Status |
|---|---|---|
| Federal Agricultural Mortgage Corporation | Board of Directors | Current |
| Organization | Position | Status |
|---|---|---|
| Federal Agricultural Mortgage Corporation | Board of Directors | Current |
| Organization | Position | Status |
|---|---|---|
| Federal Agricultural Mortgage Corporation | Board of Directors | Current |
Timothy Kenny became Freddie Mac’s senior vice president and general auditor in July 2008. He reports directly to the audit committee of Freddie Mac’s board of directors and administratively to CEO David M. Moffett. In this position, Kenny supervises the Internal Audit Department, which is responsible for all internal audit activities and coordinating audit practices and procedures with Freddie Mac’s external auditor. Prior to this, Kenny served as the company’s vice president and interim general auditor. He joined Freddie Mac in September 2007. From 2001 to 2007, Kenny was a managing director with BearingPoint (formerly KPMG Consulting) where he directed a large team of financial professionals on a variety of financial risk management consulting projects with Ginnie Mae, the Federal Housing Administration, private sector mortgage bankers, the Treasury Department and other federal credit agencies. He was appointed a member of the BearingPoint 401(k) Plan Committee. He joined KPMG, the predecessor organization to KPMG Consulting, in 1986, was promoted to a KPMG audit partner in 1997, and served in that position until the separation of KPMG Consulting from KPMG in 2001. Kenny is a Certified Public Accountant and a member of the American Institute of Certified Public Accountants. He holds a B.S. in accounting from the University of Utah. He was a member of the board of directors of Farmer Mac serving on its audit and corporate governance committees. He also served on the board of directors of the Mortgage Bankers Association of Metropolitan Washington.
| Organization | Position | Status |
|---|---|---|
| Freddie Mac | Senior Vice President & General Auditor | Current |
| Federal Agricultural Mortgage Corporation | Board of Directors | Current |
| American Institute of Certified Public Accountants | Member | Current |
| BearingPoint, Inc. | Managing Director | Former |
| KPMG LLP | Audit Partner | Former |
| Freddie Mac | Interim General Auditor | Former |
| Mortgage Bankers Association | Board of Directors, Metropolitan Washington | Former |
| University of Utah | B.S., Accounting | Former |
Executive News
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Cooperatives' Record Weighed in Health-Care Debate: Some Herald Them as Cure for Health Care; Others Question Their Power, Costs
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Cooperatives' Record Is Up for Debate
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Farmer Mac Reports Second Quarter Results --GAAP Earnings of $25 Million Grow Capital Surplus to $100 Million--Core Earnings Remain Steady at $4.7 Million
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Farmer Mac Reports Second Quarter Results
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