12 U.S.C. § 1715z–22a — Definitions

For this subtitle: (1) “Multifamily housing” means principally residential accommodations on mortgaged property meeting the Secretary's standards and containing at least five rental units on one site; the units may be detached, semidetached, row-house, or multifamily structures. (2) “Qualified housing finance agency” means a State or local agency with a “top tier” or equivalent rating, an “A” general-obligation-bond rating, or otherwise demonstrated sound and experienced capacity based on the listed financing, financial, administrative, and governmental-support factors. (3) “Reinsurance agreement” means a contract under which the Secretary, for compensation, assumes a specified part of a lender's or other party's previously assumed loss risk on a multifamily mortgage. (4) “Secretary” means the Secretary of Housing and Urban Development. (5) “Qualified participating entity” means an entity approved for the pilot program, which may include the Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, State housing-finance and mortgage-insurance agencies, and Federal Housing Finance Board.