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. Gerber
Number of Employees 42
Contact Information

1133 21st St NW Ste 600

Washington, District of Columbia 20036

www.farmermac.c...

(202) 872-7700

NAICS Code Real Estate Credit: 522292

Recent Events

  • Federal Agricultural Mortgage AGM Posts Q3 EPS of $1.74, Better Y/Y

    11/10/09 - Financial Announcement - View Story

  • Disaster recovery news briefs: SteelEye supports disaster recovery and business continuity for Windows Server 2008...

    10/28/09 - Licensing / Contract - View Story

  • Farmer Mac Reports Second Quarter Results --GAAP Earnings of $25 Million Grow Capital Surplus to...

    8/10/09 - Financial Announcement - View Story

  • Farmer Mac Declares Quarterly Dividends on Common and Preferred Stock

    8/07/09 - Stock Split / Dividend - View Story

News & Analysis

federal agricultural mortgage corp. - All News and Analysis

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

  • Cooperatives' Record Weighed in Health-Care Debate: Some Herald Them as Cure for Health Care; Others Question Their Power, Costs

    Washington Post - 8/28/09 - View Story

  • Cooperatives' Record Is Up for Debate

    Washington Post - 8/26/09 - View Story

  • 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

    CNBC - 8/10/09 - View Story

  • Farmer Mac Reports Second Quarter Results

    Reuters - 8/10/09 - View Story

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