More loan options for farmers.* More loan options for farmers--The American Bankers Association The American Bankers Association (ABA) is comprised of banks and other financial institutions. It seeks to promote the strength and profitability of the banking industry by Lobbying federal and state governments, building industry consensus on key issues, and providing products and and Federal Agricultural Mortgage Corporation Federal Agricultural Mortgage Corporation (Farmer Mac) A federal agency chartered in 1988 to provide a secondary market for farm mortgage loans. have entered into an exclusive agreement to bring ABA Aba (ä`bä), city (1991 est. pop. 264,000), SE Nigeria. It is an important regional market, a road and rail hub, and a manufacturing center for cement, textiles, pharmaceuticals, processed palm oil, shoes, plastics, soap, and beer. members special pricing discounts on selected Farmer Mac products and new AgPower customized loan packaging services. ABA members will also benefit from a streamlined process through which they may access Farmer Mac for a variety of products for their farm customers, including: competitively-priced long-term fixed rate farm loans, up to 20 years; adjustable-rate mortgages Adjustable-rate mortgage (ARM) A mortgage that features predetermined adjustments of the loan interest rate at regular intervals based on an established index. The interest rate is adjusted at each interval to a rate equivalent to the index value plus a predetermined spread, or (ARMs), including those with reset periods of one, three and five years; and long-term fixed rates featuring both open and partial open prepayment options. |
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