A House panel plans to take a critical look at Farmer Mac, formerly known as the Federal Agricultural Mortgage Corporation.
Panel Chairman Richard Baker, R-La., said last week that a General Accounting Office report raises concerns about Farmer Mac's relation to other government-sponsored enterprises.
"A determination of the net benefits generated by Farmer Mac and the extent to which its mission activities compete with or complement other GSEs [government-sponsored enterprises] must be reconsidered," Baker said.
Farmer Mac is involved in some rural residential securitizations as well as the secondary market for agricultural loans. - ES