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90-day delinquencies were 0.37% of total outstanding business volume as of March 31, 2020.Net effective spread, a non-GAAP measure, increased 14% from the prior-year period to $44.2 million.
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In the primary market, a primary lender writes up a mortgage. For those unfamiliar, all three are considered GSE's ( Government-Sponsored Enterprises).īasically GSE's act as secondary markets for mortgages and loans. Farmer Mac - hereon referred to as AGM for the sake of abbreviation - is to the agricultural industry what Fannie Mae and Freddie Mac are to the home mortgage industry.