_____________________________________________
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported)
July 25, 1996
Farmer Mac Mortgage Securities Corporation
______________________________________________________
(Exact Name of Registrant as Specified in its Charter)
Delaware 333-6325 52-1779791
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
919 18th Street, N.W. 20006
Washington, D.C. (Zip Code)
(Address of Principal
Executive Offices)
Registrant's telephone number, including area code (202) 872-7700
No Change
_____________________________________________________________
(Former Name or Former Address, if Changed Since Last Report)
<PAGE>
Item 7. Financial Statements; Pro Forma Financial
Information and Exhibits
(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
20.1 Farmer Mac Mortgage Securities Corporation,
Agricultural Mortgage-Backed Securities, Series
6/27/96, Statement to Certificateholders,
dated 7/25/96.
<PAGE>
SIGNATURES
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.
FARMER MAC MORTGAGE SECURITIES
CORPORATION
By: /s/ Christopher Dunn
Name: Christopher Dunn
Title: Vice President
Dated: August 7, 1996
<PAGE>
EXHIBIT INDEX
Exhibit No. Description Page No.
20.1 Statement to Certificateholders
EXHIBIT 20.1
STATEMENT TO CERTIFICATE HOLDERS
<PAGE>
<TABLE>
Pool CUSIP Pmt Issue Balance Pool Prior Yld Maint Unsched Curr Curr Curr
Number Date Date Factor Balance Coupon Coupon Prem Fact Prin Fact WAC WAM Date WARAT Dt
- ------ --------- -------- -------- --------- ------------ ------- ------- --------- --------- ----- -------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
BA1001 31316GAA6 00000000 06011996 100000000 000478245000 0000000 0692100 000000000 000000000 08091 01012003 01012011
BQ1001 31316LAA5 07251996 06011996 098780636 000302454553 0641700 0641700 000000000 000000000 08153 04012003 01012009
BS1001 31316MAA3 07251996 06011996 099536478 000498080536 0698800 0698900 000000000 000000000 08288 07012003 07012009
AQ1001 31316DAA3 07251996 06011996 099760511 001817150278 0732500 0732500 000000000 000000000 08631 01012011 10012015
AS1001 31316EAA1 07251996 06011996 099696072 001601623378 0723700 0723800 000000000 000000000 08566 07012011 07012017
AS2001 31316FAA8 00000000 06011996 100000000 000867290000 0000000 0696200 000000000 000000000 08367 04012010 04012015
AA1001 31316AAA9 00000000 06011996 100000000 003254007400 0000000 0706600 000000000 000000000 08385 01012011 01012018
AA2001 31316BAA7 00000000 06011996 100000000 001494380000 0000000 0696900 000000000 000000000 08313 04012010 04012017
AA3001 31316PAA6 07251996 06011996 100000000 000445505200 0747600 0747600 000000000 000000000 08828 07012010 07012016
AA4001 31316CAA5 00000000 06011996 100000000 001297160300 0000000 0702200 000000000 000000000 08298 10012010 10012015
</TABLE>
<PAGE>
<TABLE>
Pool CUSIP Pmt Issue WALA Ln Orig 1st Final Original F C Issue Issue Issue Iss Iss
Number Date Date Count Coupon Pmt Date Pmt Date Pool Bal WAC WAM Date WARAT Dt WALA LnCt
- ------ --------- -------- -------- --- ----- ------- -------- -------- ------------ - - ----- -------- -------- --- -----
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
BA1001 31316GAA6 00000000 06011996 002 00013 0692100 01251997 01252003 000478245000 A 1 08091 01012003 01012011 002 00013
BQ1001 31316LAA5 07251996 06011996 005 00006 0641700 07251996 04252003 000306188100 Q 1 08151 04012003 04012009 004 00006
BS1001 31316MAA3 07251996 06011996 004 00012 0698800 07251996 07252003 000500400000 S 1 08288 01012003 07012009 003 00012
AQ1001 31316DAA3 07251996 06011996 004 00024 0732500 07251996 07252011 001821512600 Q 1 08631 01012011 01012016 003 00024
AS1001 31316EAA1 07251996 06011996 003 00039 0723700 07251996 07252011 001606506000 S 1 08565 01012011 07012017 002 00039
AS2001 31316FAA8 00000000 06011996 004 00013 0696200 10251996 10252011 000867290000 S 2 08367 04012010 04012015 004 00013
AA1001 31316AAA9 00000000 06011996 003 00085 0706600 01251997 01252012 003254007400 A 1 08385 01012011 01012018 003 00085
AA2001 31316BAA7 00000000 06011996 003 00036 0696900 04251997 04252011 001494380000 A 2 08313 04012010 04012017 003 00036
AA3001 31316PAA6 07251996 06011996 002 00011 0747600 07251996 07252011 000445505200 A 3 08828 07012010 07012016 001 00011
AA4001 31316CAA5 00000000 06011996 006 00026 0702200 10251996 10252011 001297160300 A 4 08298 10012010 10012015 006 00026
</TABLE>
