<PAGE>
                       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)
                                  June 26, 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.                                
                Washington, D.C.                                   20006
             ----------------------                              ----------
             (Address of Principal                               (Zip Code)
               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 5.  Other Events
                  ------------

         Attached as Exhibit 99.1 to this Current  Report are certain  materials
(the "Computational  Materials")  furnished to the Registrant by Bear, Stearns &
Co.   Inc.   (the   "Underwriter")   in  respect  of   Guaranteed   Agricultural
Mortgage-Backed Securities Series 6/27/96 (the "Certificates"). The Certificates
are being offered pursuant to a Prospectus Supplement,  dated June 26, 1996, and
a  Prospectus,  dated June 26, 1996,  which are being filed with the  Commission
pursuant  to Rule  424(b)  under the  Securities  Act of 1933,  as amended  (the
"Act").  The  Certificates  have  been  registered  pursuant  to the Act under a
Registration   Statement  on  Form  S-3  (No.   333-6325)   (the   "Registration
Statement").  The  Computational  Materials are incorporated by reference in the
Registration Statement.

         The  Computational  Materials were prepared solely by the  Underwriter,
and the  Registrant  did not prepare or  participate  (other than  providing the
background  information  concerning the underlying pool of assets upon which the
Computational  Materials are based to the Underwriter) in the preparation of the
Computational Materials.

         Any statements or information contained in the Computational  Materials
shall be deemed to be modified or superseded  for purposes of the Prospectus and
the  Registration  Statement  by  statements  or  information  contained  in the
Prospectus.


                                        2

<PAGE>


          Item 7. Financial  Statements;  Pro Forma  Financial  Information  and
                  --------------------------------------------------------------
Exhibits
- --------

         (a)      Not applicable.

         (b)      Not applicable.

         (c)      Exhibits:

                           99.1     Computational Materials






                                        3

<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:  July 2, 1996





























<PAGE>





                                  EXHIBIT INDEX



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

99.1                        Computational Materials





<PAGE>
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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)
                                  June 26, 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.                                
                Washington, D.C.                                   20006
             ----------------------                              ----------
             (Address of Principal                               (Zip Code)
               Executive Offices)

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

                                    No Change
           -----------------------------------------------------------
          (Former Name or Former Address, if Changed Since Last Report)
         ---------------------------------------------------------------
Item 5.  Other Events
                  ------------

         Attached as Exhibit 99.1 to this Current  Report are certain  materials
(the "Computational  Materials")  furnished to the Registrant by Bear, Stearns &
Co.   Inc.   (the   "Underwriter")   in  respect  of   Guaranteed   Agricultural
Mortgage-Backed Securities Series 6/27/96 (the "Certificates"). The Certificates
are being offered pursuant to a Prospectus Supplement,  dated June 26, 1996, and
a  Prospectus,  dated June 26, 1996,  which are being filed with the  Commission
pursuant  to Rule  424(b)  under the  Securities  Act of 1933,  as amended  (the
"Act").  The  Certificates  have  been  registered  pursuant  to the Act under a
Registration   Statement  on  Form  S-3  (No.   333-6325)   (the   "Registration
Statement").  The  Computational  Materials are incorporated by reference in the
Registration Statement.

         The  Computational  Materials were prepared solely by the  Underwriter,
and the  Registrant  did not prepare or  participate  (other than  providing the
background  information  concerning the underlying pool of assets upon which the
Computational  Materials are based to the Underwriter) in the preparation of the
Computational Materials.

         Any statements or information contained in the Computational  Materials
shall be deemed to be modified or superseded  for purposes of the Prospectus and
the  Registration  Statement  by  statements  or  information  contained  in the
Prospectus.

                                        2
Item 7. Financial  Statements;  Pro Forma  Financial  Information  and
                  --------------------------------------------------------------
Exhibits
- --------

         (a)      Not applicable.

         (b)      Not applicable.

         (c)      Exhibits:

                           99.1     Computational Materials

                                        3
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:  July 2, 1996
EXHIBIT INDEX

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

99.1                        Computational Materials