Farmer mac reports third quarter 2021 results

Washington, nov. 8, 2021 /prnewswire/ -- the federal agricultural mortgage corporation (farmer mac; nyse: agm and agm.a), the nation's secondary market provider that increases the availability and affordability of credit for the benefit of rural america, today announced its results for the fiscal quarter ended september 30, 2021. third quarter 2021 and recent highlights added $2.5 billion of gross business volume, resulting in net growth of $921.6 million net income of $24.3 million compared to $18.7 million in third quarter 2020 core earnings1 of $27.6 million compared to $27.7 million in the same period last year on august 18, 2021, completed a strategic acquisition that expanded the internal loan servicing function and acquired the loan servicing rights for a sizeable portion of our farm & ranch loan and usda guaranteed securities portfolios on october 14, 2021, farmer mac closed a $302.7 million securitization of agricultural mortgage-backed securities "we delivered another quarter of strong earnings and net effective spread, reflecting the consistency of our fundamental business model," said president & chief executive officer, brad nordholm.
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