18 U.S.C. § 27 — Mortgage lending business defined

submitted 17 years ago by Pub. L. 111-21 to r/title-18-CRIMES-AND-CRIMINAL-PROCEDURE · 42 words · no verdicts yet

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In this title, "mortgage lending business" means an organization that finances or refinances debt secured by real estate. This includes private mortgage companies and their subsidiaries. The organization's activities must affect interstate or foreign commerce.

This section is one undivided definition, used elsewhere in this title. "Mortgage lending business" means an organization that finances or refinances any debt that's secured by an interest in real estate. This definition includes private mortgage companies, along with any subsidiaries — related companies — of those organizations. To count under this definition, the organization's activities must affect interstate or foreign commerce (business across state or national lines).

the actual law source: uscode.house.gov ↗public domain

In this title, the term “mortgage lending business” means an organization which finances or refinances any debt secured by an interest in real estate, including private mortgage companies and any subsidiaries of such organizations, and whose activities affect interstate or foreign commerce.

Source credit: (Added Pub. L. 111–21, § 2(b)(1), May 20, 2009, 123 Stat. 1617.)

history & why it existsrecord from the source credit

2009Enacted · Pub. L. 111-21 · 123 Stat. 1617

A history note hasn’t been published yet. The record shows enactment by Pub. L. 111-21 on 2009-05-20.

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