§ 2279aa-1. Federal Agricultural Mortgage Corporation
(a)
Establishment
(1)
In general
There is hereby established a corporation to be known as the Federal Agricultural Mortgage Corporation, which shall be a federally chartered instrumentality of the United States.
(2)
Institution within Farm Credit System
The Corporation shall be an institution of the Farm Credit System.
(b)
Duties
The Corporation shall—
(1)
in consultation with originators, develop uniform underwriting, security appraisal, and repayment standards for qualified loans;
(2)
determine the eligibility of agricultural mortgage marketing facilities to contract with the Corporation for the provision of guarantees for specific mortgage pools;