Farmer Mac, Utilities Co-op Close $365M Deal

The Federal Agricultural Mortgage Corp., commonly known as Farmer Mac, has announced the purchase of mortgage-backed securities representing beneficial ownership interests in $365 million of distribution cooperative mortgage loans sold by the National Rural Utilities Cooperative Finance Corp.The asset sale should improve loan pricing to the cooperative members of National Rural Utilities Cooperative Finance Corp. and it "advances Farmer Mac's role in financing rural America," said Farmer Mac, a government-sponsored enterprise that provides a secondary market for agricultural real estate and rural housing mortgage loans. The organizations can be found on the Web at http://www.farmermac.com and http://www.nrucfc.coop.