Zions Agricultural Finance, a division of Zions First National Bank, has been deemed the nation's top originator of secondary market agricultural real estate mortgage loans through the Federal Agricultural Mortgage Corp., also known as "Farmer Mac."
Since 1996, Zions has sold 626 loans, totaling more than $280 million, to the Farmer Mac cash window. Zions Bank is a subsidiary of Zions Bancorp.
Zions Bank has been a participant in the Farmer Mac program for nearly 10 years, helping launch the Farmer Mac II program in 1991. Zions Bank Executive Vice President David Hemingway is a member of the Farmer Mac board of directors. Since 1996, Zions has held a primary contract with Farmer Mac to underwrite and provide national servicing for farm and ranch loans sold on the secondary market to Farmer Mac.
Farmer Mac is the federally chartered corporation created by Congress to establish a secondary market for agricultural real estate and rural housing mortgage loans and to facilitate capital market funding for U.S. Department of Agriculture-guaranteed farm program and rural development loans.