Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

     Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

         Date of Report (Date of earliest event reported): June 26, 2002

                    Federal Agricultural Mortgage Corporation
             (Exact name of registrant as specified in its charter)

    Federally chartered
    instrumentality of
    the United States                    0-17440                 52-1578738
-------------------------------        ------------            --------------
(State or other jurisdiction of        (Commission            (I.R.S. Employer
 incorporation or organization)        File Number)          Identification No.)

1133 Twenty-First Street, N.W., Suite 600, Washington, D.C.            20036
-----------------------------------------------------------         ------------
      (Address of principal executive offices)                       (Zip Code)

       Registrant's telephone number, including area code: (202) 872-7700

                                    No change
          (Former name or former address, if changed since last report)

Item 7.  Financial Statements and Exhibits.

      (a)   Not applicable.

      (b)   Not applicable.

      (c)   Exhibits:

                  99.1  Press release dated June 26, 2002.

Item 9.  Regulation FD Disclosure.

     On June 26, 2002,  the  Registrant  issued a press release in response to a
Senate  Agriculture  Committee  request that the U.S. General  Accounting Office
conduct  an  independent  analysis  of  a  number  of  issues  relating  to  the
Registrant.  The press release is filed as Exhibit 99.1 hereto and  incorporated
herein by reference.


     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                                    FEDERAL AGRICULTURAL MORTGAGE CORPORATION

                                    By:   /s/ Jerome G. Oslick
                                        Name:   Jerome G. Oslick
                                        Title:  Vice President - General Counsel

Dated:      June 26, 2002

                                  EXHIBIT INDEX

Exhibit No.                   Description                           Page No.
-----------                   -----------                           --------

99.1                         Press Release Dated June 26, 2002          5

                                                                   Exhibit 99.1
                                   FARMER MAC

FOR IMMEDIATE RELEASE                                       CONTACT
June 26, 2002                                               Jerome Oslick

                        Farmer Mac Welcomes GAO Analysis

     Washington,  D.C. -- The Federal Agricultural  Mortgage Corporation (Farmer
Mac, NYSE: AGM and AGMA), the  stockholder-owned  instrumentality  of the United
States  chartered by Congress to establish a secondary  market for  agricultural
real  estate and rural  housing  mortgage  loans,  has  learned  that the Senate
Committee on  Agriculture,  Nutrition,  and Forestry has requested that the U.S.
General  Accounting Office (GAO) conduct an independent  analysis of a number of
issues  relating to Farmer Mac.  The  Committee  made this request of the GAO in
response to recent misleading  reports and speculation about Farmer Mac produced
by certain Wall Street stock traders,  known as "short sellers," who are seeking
to  depress  the price of Farmer  Mac stock for their own gain,  and by  related
articles in the New York Times.  Farmer Mac has made it clear that those reports
are flawed and unfounded and welcomes this independent analysis by the GAO as an
opportunity  to confirm  that  Farmer  Mac's  mission  continues  to be met in a
financially sound manner.

     Farmer Mac is confident  that the GAO analysis  will confirm the  integrity
and  financial  stability of the Company,  as presented in its public  financial
disclosures.  Farmer  Mac  expects  the  report  will show that the  Company  is
appropriately   and   effectively   fulfilling   its  mission  to  increase  the
availability of borrower credit, lender liquidity and capital markets funding in
the agricultural sector of the U.S. economy for the benefit of farmers, ranchers
and rural  homeowners,  lenders  participating  in Farmer Mac  programs  and the
investing public.

     The GAO report  was  requested  by the  Committee  specifically  to address
Farmer Mac's financial stability;  corporate governance;  compensation policies;
investment  practices;  the  non-voting  status of Farmer  Mac's  Class C common
stock; and the fulfillment of Farmer Mac's Congressionally-established  mission.
A copy of the  Committee's  letter was  attached  as an exhibit to Farmer  Mac's
Current Report on Form 8-K filed earlier today with the SEC.

     Farmer Mac looks forward to the GAO report as an  opportunity to remove the
confusion  that has been  cast over the  Company,  so that it may  continue  its
Congressional mission in a safe and sound manner.

Forward-Looking Statements

     This release includes forward-looking  statements that reflect management's
current  expectations  for  Farmer  Mac's  future  financial  results,  business
prospects and business developments.  Management's expectations for Farmer Mac's
future necessarily  involve  assumptions,  estimates and the evaluation of risks
and  uncertainties.  Various  factors  could cause  actual  events or results to
differ  materially from those  expectations.  Some of the important factors that
could cause Farmer Mac's actual results to differ  materially from  management's
expectations include uncertainties  regarding: (1) the rate and direction of the
development of the secondary  market for  agricultural  mortgage loans;  (2) the
agricultural  economy resulting from low commodity prices,  weak demand for U.S.
agricultural products and crop damage from natural disasters;  (3) the effect on
the  agricultural  economy of federal  assistance to farmers provided for in the
recently-passed  farm bill;  and (4) the possible  establishment  of  additional
statutory or  regulatory  restrictions  on Farmer Mac, such as  restrictions  on
Farmer Mac's  investment  authority.  These and other  factors are  discussed in
Farmer Mac's Annual Report on Form 10-K for the year ended December 31, 2001, as
filed with the  Securities  and Exchange  Commission  on March 27, 2002,  and in
Farmer Mac's Quarterly Report on Form 10-Q for the quarter ended March 31, 2002,
as filed with the SEC on May 15, 2002. The forward-looking  statements contained
herein  represent  management's  expectations  as of the  date of this  release.
Farmer Mac  undertakes  no  obligation  to release  publicly  the results of any
revisions to the forward-looking statements included herein to reflect events or
circumstances after today, or to reflect the occurrence of unanticipated events.
Additional  information about Farmer Mac is available on Farmer Mac's website at

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