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Farmer Mac |
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More loan options for farmers--The American Bankers Association and Federal Agricultural Mortgage Corporation have entered into an exclusive agreement to bring ABA members special pricing discounts on selected Farmer Mac products and new AgPower customized loan packaging services. 1362(d)(3)(F), as amended by AJCA Section 237(a), modifies the definition of passive income to exclude interest income earned by banks and bank holding companies, as well as dividend income earned from assets required, for regulatory purposes, to be held by banks or their holding companies (including stock in the Federal Home Loan Bank, Federal Reserve Bank and Federal Agricultural Mortgage Bank, or participation certificates issued by a Federal Intermediate Credit Bank) . By law, Reserve Banks act as fiscal agents for the following GSEs and international organizations: Fannie Mae; the Federal Home Loan Mortgage Corporation; entities of the Federal Home Loan Bank System; the Farm Credit System; the Federal Agricultural Mortgage Corporation; the Student Loan Marketing Association; the Financing Corporation; the Resolution Funding Corporation; the World Bank; the Inter-American Development Bank; the Asian Development Bank; and the African Development Bank. |
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Federal Agricultural Mortgage