Farmer Mac closes $318.8M agricultural mortgage securitization (FARM 2024-2)

FEDERAL AGRICULTURAL MORTGAGE CORP

Fifth FARM series securitization since 2021; pool of 446 agricultural loans.
Senior tranche of $294.9M guaranteed by Farmer Mac, in three classes (A, A1, A2).
Unguaranteed subordinate tranche of $23.9M; total deal $318.8M.
Joint bookrunners: BofA Securities and Oppenheimer; selling group: CastleOak and Seaport Global.
Management cites strong investor demand and commitment to growing AMBS program.

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