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FARMER MAC LENDERS IN ILLINOIS FULL

Farmer Mac generally purchases the loan at origination at par, while the lender maintains its field servicing relationship with the borrower. Under this program Farmer Mac’s subsidiary, Farmer Mac 2, purchases in the secondary market, the USDA-guaranteed portion of private sector loans from an originating lender.

We purchase loans and loan participations that are secured by first lien mortgages on eligible agricultural or rural utility assets, which include production agriculture and many agribusinesses.

The lender applies to be an Approved Lender under the Farmer Mac program and is provided access to our daily rates as well as Farmer Mac’s proprietary and easy to use loan underwriting platform, “AgPower”.

This solution also helps rural lenders preserve capital, manage interest rate risk and minimize credit risk, all while still maintaining the customer relationship. Together, we support more than 500,000 farmers, ranchers, agricultural producers, rural infrastructure providers and rural homebuyers in all 50 states and Puerto Rico. These figures are comparable to lenders’ profitability expectations from the 20 surveys.

Dairy, grains, and cattle were the sectors that concerned lenders the most, while lenders reported less concern for the swine, poultry, and vegetable sectors. Our 70 independent Farm Credit institutions are governed by the customers they serve. Lenders expect that 56 of their borrowers will remain profitable through 2020.

FARMER MAC LENDERS IN ILLINOIS FULL

Farmer Mac enables lenders to offer more favorable terms, a full suite of products including long-term fixed rate loans that many banks don’t offer. A NATIONWIDE NETWORK OF CUSTOMER-OWNED COOPERATIVES. Farmer Mac’s Farm & Ranch Loan Purchase solution helps rural lenders be more competitive in serving their customers and communities.