DES MOINES, Iowa, August 19, 2021 — Conterra Ag Capital and The Federal Agricultural Mortgage Corporation (“Farmer Mac”) have reached an agreement on the purchase of a segment of Conterra’s agricultural loan servicing assets. Under the agreement, Farmer Mac has acquired Conterra’s loan servicing rights for the loans owned by Farmer Mac that were previously serviced by Conterra.
“The acquisition of loan servicing assets by Farmer Mac is a testament to the exceptional client servicing experience we have created,” said Conterra President and CEO, Paul Erickson. “We value our continued relationship with Farmer Mac and are committed to the seamless transition of services.”
Conterra has built a world class asset management platform for agricultural debt. “This asset sale allows Conterra to enhance our product line up and aggressively build our asset management platform, as well as continue to grow originations at a faster pace,” Erickson said.
Conterra will continue to originate and manage loans for a variety of institutional investors, including Farmer Mac. The completed sale of its Farmer Mac loan servicing rights supports Conterra’s long term plans for strategic growth, development of additional loan portfolios, and enhancement of its asset management capabilities.
“Conterra’s team of ag lending experts will continue to provide and develop ag financing options that fill the needs of American agriculture,” Erickson continued. “Our loan products, both traditional and alternative, will continue to expand and improve as we support farmers and ranchers nationwide.”
In connection with the purchase of servicing assets, Farmer Mac has hired a number of Conterra’s servicing employees. Conterra has retained key people within the company’s loan accounting, closing and servicing groups to maintain the same level of customer service to its clients.
Erickson concluded, “We are also using this opportunity to expand Conterra’s boots on the ground regional coverage by adding relationship managers in key agricultural areas.”
About Conterra Ag Capital
Conterra Ag Capital focuses exclusively on agriculture, providing traditional farm and ranch loans, development and alternative lending to America’s farmers, ranchers and agribusinesses. Conterra also offers its loan products as well as asset management to institutional investors, banks, and other agricultural lenders throughout the United States.
Conterra has loan products to help meet the challenges of today’s agricultural environment:
• Long-term fixed rate loans • Flexibility through revolving lines of credit
• Restructuring debt to improve cash flow
Conterra’s staff of experienced ag lending professionals will quickly respond to your inquiry. To learn more, contact Conterra by phone at 855-381-3451 or by email at email@example.com.