Off-Balance Sheet Guarantees and Long Term Standby Purchase Commitments - (Tables)

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies Disclosure [Abstract]

Schedule of Guarantee Obligations Activity [Table Text Block]

The following table presents changes in Farmer Mac's guarantee and commitment obligations in the consolidated balance sheets for the years ended December 31, 2014, 2013, and 2012:

Table 12.1

	For the Year Ended December 31,
	2014			2013			2012
	(in thousands)
Beginning balance, January 1	$	39,667		$	37,803		$	27,440
Additions to the guarantee and commitment obligation (1)	4,966			8,414			15,134
Amortization of the guarantee and commitment obligation	(6,708		)	(6,550		)	(4,771		)
Ending balance, December 31	$	37,925		$	39,667		$	37,803

(1) Represents the fair value of the guarantee and commitment obligation at inception

Schedule of Guarantor Obligations [Table Text Block]

The following table presents the maximum principal amount of potential undiscounted future payments that Farmer Mac could be required to make under all off-balance sheet Farmer Mac Guaranteed Securities as of December 31, 2014 and 2013, not including offsets provided by any recourse provisions, recoveries from third parties, or collateral for the underlying loans:

Table 12.2

Outstanding Balance of Off-Balance Sheet Farmer Mac Guaranteed Securities
	As of December 31, 2014		As of December 31, 2013
	(in thousands)
Farm & Ranch:
Guaranteed Securities	$	636,086	$	765,751
USDA Guarantees:
Farmer Mac Guaranteed USDA Securities	13,978		20,222
Institutional Credit:
AgVantage Securities	986,528		981,009
Total off-balance sheet Farmer Mac Guaranteed Securities	$	1,636,592	$	1,766,982

If Farmer Mac repurchases a loan that is collateral for a Farmer Mac Guaranteed Security, Farmer Mac would have the right to enforce the terms of the loan, and in the event of a default, would have access to the underlying collateral.  Farmer Mac typically recovers its investment in the defaulted loans purchased either through borrower payments, loan payoffs, payments by third parties, or foreclosure and sale of the property securing the loans.

Schedule of Cash Flows Related To Transfer of Securitizations [Table Text Block]

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Eligible loans and other eligible assets may be placed into trusts that are used as vehicles for the securitization of the transferred assets and the Farmer Mac-guaranteed beneficial interests in the trusts are sold to investors.  The following table summarizes the significant cash flows received from and paid to trusts used for Farmer Mac securitizations:

Table 12.3

	For the Year Ended December 31,
	2014		2013			2012
	(in thousands)
Proceeds from new securitizations	$	175,754	$	150,417		$	38,063
Guarantee fees received	4,612		5,182			5,197
Purchases of assets from the trusts	—		(6,667		)	(8,933		)

Farmer Mac has recorded a liability for its obligation to stand ready under the guarantee in the guarantee and commitment obligation on the consolidated balance sheets.  This liability approximated $11.1 million as of December 31, 2014 and $13.4 million as of December 31, 2013. As of December 31, 2014 and 2013, the weighted-average remaining maturity of all loans underlying off-balance sheet Farmer Mac Guaranteed Securities, excluding AgVantage securities, was 12.0 years and 12.8 years, respectively.  As of December 31, 2014 and December 31, 2013, the weighted-average remaining maturity of the off-balance sheet AgVantage securities was 2.4 years and 3.4 years, respectively.

Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]

 The future minimum lease payments under Farmer Mac's non-cancellable leases for its office space and other contractual obligations are as follows:

Table 12.4

	Future Minimum Lease Payments		Other Contractual Obligations
	(in thousands)
2015	$	1,375	$	773
2016	1,378		209
2017	1,400		88
2018	1,388		—
2019	1,389		—
Thereafter	6,951		—
Total	$	13,881	$	1,070

Other contractual obligations in the table above include minimum amounts due under non-cancellable agreements to purchase goods or services that are enforceable and legally binding and specify all significant terms.  These agreements include agreements for the provision of consulting services, information technology support, equipment maintenance, and financial analysis software and services.  The amounts actually paid under these agreements will likely be higher due to the variable components of some of these agreements under which the ultimate obligation owed is determined by reference to actual usage or hours worked.