WASHINGTON – The American Bankers Association – through its subsidiary the Corporation for American Banking – and Federal Agricultural Mortgage Corporation have renewed their agreement to assist member banks with the sale of their agricultural loans into the secondary market.
Under the agreement, ABA member banks will enjoy special advantaged pricing on select, fixed-rate farm and ranch loans. ABA members will also benefit from customized learning tools, support and communications as well as dedicated assistance through a special email account.
“With this agreement, our members will continue to have better access to Farmer Mac and the benefits that the secondary market for agricultural mortgages can bring to their customers,” said Bill Kroll, executive vice president of ABA’s Corporation for American Banking. “Our Alliance with Farmer Mac not only provides our member banks with preferred rates on long-term fixed-rate farm and ranch loans, it also enables banks to shift the credit and interest rate risk away from the bank, and provides them with increased lending capacity and greater liquidity.”
“Our alliance has proven to be a mutually beneficial platform that brings the benefits of our product offerings to bankers across the country,” said Tim Buzby, Farmer Mac president and CEO. “Our list of active banker-participants has grown every year as we begin the 10-year anniversary of our alliance with ABA. These participating bankers are telling us they’re very pleased with our products and the pricing advantages these products bring to their banks.”
ABA members that participate in the alliance can choose from a variety of products including 15-year fixed rate mortgage, or 7/1 and 10/1 adjustable rate mortgages.
For more information on this and more ABA endorsed mortgage lending solutions, visit www.aba.com/mortgage
or call 1-800-BANKERS.
About American Bankers AssociationThe American Bankers Association is the voice of the nation’s $14 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $11 trillion in deposits and extend nearly $8 trillion in loans. Learn more at aba.com.
About Corporation for American BankingABA endorsed solutions help banks make money, save money, diversify income and improve efficiency. Backed by our comprehensive due-diligence process, these select solutions are analyzed by industry experts, field-tested by bankers and meet stringent quality and customer-service standards. From compliance and insurance to payments and mortgage lending, you’ll find products and services to enhance your bank’s bottom line. Learn more at aba.com/endorsed.
About Farmer MacFarmer Mac is the stockholder-owned company created to deliver capital and increase lender competition for the benefit of American agriculture and rural communities. Additional information about Farmer Mac is available at www.farmermac.com.