Farmer Mac is a federally chartered, stockholder-owned government-sponsored enterprise that operates a secondary market for agricultural and rural infrastructure loans across America. The company purchases eligible loans and loan participations directly from lenders, guarantees and purchases securities backed by pools of these loans, and provides servicing and long-term purchase commitments; it serves agricultural banks, credit unions, Farm Credit System institutions, and other lenders by providing liquidity, portfolio diversification, and access to long-term fixed-rate financing. The company generates revenue primarily through net interest income on its loan and securities portfolio and through guarantee fees, commitment fees, and servicing fees on its secondary market activities.