Full Committee hearing will review the nominations of Glenn Klippenstein, Julia Bartling and Lowell Junkins to the Farmer Mac Board of Directors.
(The Federal Agricultural Mortgage Corporation, also known as Farmer Mac, provides a secondary market for agricultural real estate and rural housing mortgages. It guarantees prompt payment of principal and interest on securities representing interests in, or obligations backed by, mortgage loans secured by first liens on agricultural real estate or rural housing. It also guarantees securities backed by the "guaranteed portions" of farm ownership and operating loans, rural business and community development loans, and certain other loans guaranteed by the U.S. Department of Agriculture. Farmer Mac also purchases or commits to purchase qualified loans or securities backed by qualified loans directly from lenders.)