Federal Agricultural Mortgage Corporation operates through four segments, providing a secondary market for various loans made to borrowers in the United States. Its Farm & Ranch segment purchases and retains eligible mortgage loans, securitizes eligible mortgage loans, and issues long-term standby purchase commitments on designated eligible mortgage loans. Additionally, the Corporation purchases portions of certain agricultural and rural development loans guaranteed by the USDA, guarantees securities backed by loans for electric or telecommunications facilities, and also guarantees and purchases general obligations of lenders and other financial institutions that are secured by pools of eligible loans.