WASHINGTON, D.C. 20549

                                   FORM 8-K/A

                                 CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported)         April 4, 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          (IRS  Employer
       Incorporation                      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 4.           Changes in Registrant's Certifying Accountant

     On March 28,  2002,  the Federal  Agricultural  Mortgage  Corporation  (the
"Registrant")  determined  not to re-engage  its  independent  auditors,  Arthur
Andersen LLP ("AA"),  and selected Deloitte & Touche LLP ("Deloitte") as its new
independent  auditors.  The decision to retain  Deloitte and not to re-engage AA
was  recommended by the Audit  Committee of the Board of Directors and was based
upon proposals received from four major national accounting firms, including AA.
The selection of Deloitte is subject to the  completion of Deloitte's  customary
new client acceptance  procedures and to the ratification by the stockholders at
the Registrant's Annual Meeting to be held on June 6, 2002.

     The reports of AA on the financial statements of the Registrant for each of
the two fiscal years in the period  ended  December 31, 2001 did not contain any
adverse  opinion or  disclaimer of opinion and were not qualified or modified as
to uncertainty,  audit scope or accounting principles,  except to make reference
to the adoption of SFAS No. 133, which became effective  January 1, 2001. During
each of the two fiscal years in the period  ended  December 31, 2001 and through
the  date of this  Form  8-K/A,  there  has  been no  disagreement  between  the
Registrant and AA on any matter of accounting principles or practices, financial
statements or disclosure, or auditing scope of procedure, which disagreement(s),
if not resolved to the  satisfaction  of AA, would have caused the Registrant to
make reference to the subject matter of the  disagreement(s)  in connection with
this report.

     The  Registrant  did not,  during its two most recent  fiscal years consult
Deloitte regarding either:  (i)(a) the application of accounting principles to a
specific  transaction,  either  completed or proposed,  or (b) the type of audit
opinion that might be rendered on the Registrant's financial statements; or (ii)
any  matter  that  was  either  the  subject  of a  disagreement  with  AA  or a
"reportable event" (as defined in SEC regulations).

     The client-auditor  relationship  between the Registrant and AA ceased upon
the filing of the Registrant's report on Form 10-K for the period ended December
31, 2001, together with AA's report thereon.

Item 7.           Financial Statements and Exhibits

(a)   Not applicable.

(b)   Not applicable.

(c)   Exhibits:

            16    Letter, dated  April 4, 2002, from  Arthur Andersen LLP to the
                  Securities and Exchange Commission.


      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 thereunto duly authorized.


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

Date: April 4, 2002

                                  EXHIBIT INDEX

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

16                      Letter, dated April 4, 2002,
                        from Arthur Andersen LLP to
                        the Securities and Exchange Commission.

                                                                    EXHIBIT 16

April 4, 2002


Office of the Chief Accountant
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549

Dear Sir/Madam:

We have read Item 4 included  in the Form 8-K/A  dated  April 4, 2002 of Federal
Agricultural  Mortgage  Corporation  filed  with  the  Securities  and  Exchange
Commission and are in agreement with the statements contained therein.

Very truly yours,


Randall B. Johnston