The Real Deal Miami

Other fed-backed lenders persevere

September 10, 2008 09:35AM

The recent federal bailout of Freddie Mac and Fannie Mae has brought to wider attention the performance of other government-backed U.S. lenders, and not all of them have suffered the full impact of the credit crisis. The Federal Agricultural Mortgage Corporation, or Farmer Mac, which buys mortgages on farmland from agricultural lenders, has seen profits increase and stock price rise 153 percent this year. The fully government-owned Government National Mortgage Association, or Ginnie Mae, which provides guarantees on mortgage-backed securities, has seen sales of government-guaranteed debt reach its highest point since 2003.