Federal Agricultural Mortgage Corporation (Farmer Mac) provides a secondary market for a range of loans made to borrowers in rural America. Farmer Mac operates through four lines of business: Farm & Ranch, the United States Department of Agriculture (USDA) Guarantees, Rural Utilities and Institutional Credit. Under the Farm & Ranch line of business, Farmer Mac purchases mortgage loans on agricultural real estate and rural housing. Under the USDA Guarantees business, Farmer Mac II LLC, a subsidiary of Farmer Mac, purchases agricultural, rural development, business and industry, and community facilities loans guaranteed by the USDA. Under the Rural Utilities business, Farmer Mac purchases and guarantees securities backed by rural utilities loans. Under the Institutional Credit line of business, Farmer Mac purchases or guarantees general obligations of institutions approved by Farmer Mac. The Company markets its guarantees of securities under the AgVantage brand name.