r/title-12-BANKS-AND-BANKING wiki — defined terms
The statute’s own glossary: every term Title 12 defines, in section order.
“qualified mortgage” applies in that section
The term “qualified mortgage” means a mortgage on a 1- to 4-family home that is insured under title II of the National Housing Act [ 12 U.S.C. 1707 et seq.].;
“rental housing counseling” applies in that section
the term “rental housing counseling” means counseling related to rental of residential property, which may include counseling regarding future homeownership opportunities and providing referrals for renters and prospective renters to entities providing counseling and shall include counseling related to such topics that is provided pursuant to— (i) section 105(a)(20) of the Housing and Community Development Act of 1974 ( 42 U.S.C. 5305(a)(20) ); (ii) in the United States Housing Act of 1937— (I) section 9(e) ( 42 U.S.C. 1437g(e) ); (II) section 18(a)(4)(D) ( 42 U.S.C. 1437p(a)(4)(D) ); (III) section 23(c)(4) 1 ( 42 U.S.C. 1437u(c)(4) ); (IV) section 32(e)(4) ( 42 U.S.C.
“residential property” applies in that section
The term “residential property” means a 1-family residence, including a 1-family unit in a condominium project, a membership interest and occupancy agreement in a cooperative housing project, and a manufactured home and the lot on which the home is situated. (7) Regulations The Secretary shall issue any regulations that are necessary to carry out this subsection. (8) Authorization of appropriations There are authorized to be appropriated to carry out this section $7,000,000 for fiscal year 1993 and $7,294,000 for fiscal year 1994, of which amounts $1,000,000 shall be available in each such fiscal year to carry out paragraph (5)(D).
“Secretary” applies in that section
The term “Secretary” means the Secretary of Housing and Urban Development.;
“single parent” applies in that section
The term “single parent” means an individual who— (i) is unmarried or legally separated from a spouse; and (ii) (I) has 1 or more minor children for whom the individual has custody or joint custody; or (II) is pregnant. (10) Regulations The Secretary may issue any regulations necessary to carry out this subsection. (11) Authorization of appropriations There are authorized to be appropriated to carry out this subsection $365,000 for fiscal year 1993 and $380,330 for fiscal year 1994. (12) Termination The demonstration program under this subsection shall terminate at the end of fiscal year 1994.
“State” applies in that section
The term “State” means each of the several States, the Commonwealth of Puerto Rico, the District of Columbia, the Commonwealth of the Northern Mariana Islands, Guam, the Virgin Islands, American Samoa, the Trust Territories of the Pacific, or any other possession of the United States. (3) Unit of general local government
“State housing finance agency” applies in that section
The term “State housing finance agency” means any public body, agency, or instrumentality specifically created under State statute that is authorised to finance activities designed to provide housing and related facilities throughout an entire State through land acquisition, construction, or rehabilitation.
“unit of general local government” applies in that section
The term “unit of general local government” means any city, county, parish, town, township, borough, village, or other general purpose political subdivision of a State. (4) HUD-approved counseling agency
“applicable individual” applies in that section
the term “applicable individual” means an individual who— (A) is— (i) employed by the organization in a permanent or temporary capacity; (ii) contracted or retained by the organization; or (iii) acting on behalf of, or with the express or apparent authority of, the organization; and (B) has been convicted for a violation under Federal law relating to an election for Federal office. (f) Authorization of appropriations There are authorized to be appropriated to the Secretary $35,000,000 for each of fiscal years 2011 through 2012 for grants under this section.
“formerly subsidized project” applies in that section
The term “formerly subsidized project” means a multifamily housing project owned by the Secretary that was a subsidized project immediately prior to its acquisition by the Secretary. (4) Unsubsidized project
“market area” applies in that section
The term “market area” means a market area determined by the Secretary. (9) Secretary
“multifamily housing project” applies in that section
The term “multifamily housing project” means any multifamily rental housing project which is, or prior to acquisition by the Secretary was, assisted or insured under the National Housing Act [ 12 U.S.C. 1701 et seq.], or was subject to a loan under section 1701q of this title . (2) Subsidized project
“preexisting tenant” applies in that section
The term “preexisting tenant” means, with respect to a multifamily housing project acquired pursuant to this section by a purchaser other than the Secretary at foreclosure or after sale by the Secretary, a family that resides in a unit in the project immediately before the acquisition of the project by the purchaser. (8) Market area
“Secretary” applies in that section
The term “Secretary” means the Secretary of Housing and Urban Development. (c) Disposition of property (1) Disposition to purchasers In carrying out this section, the Secretary may dispose of a multifamily housing project owned by the Secretary on a negotiated, competitive bid, or other basis, on such terms as the Secretary deems appropriate considering the low-income character of the project and consistent with the goals in subsection (a), only to a purchaser determined by the Secretary to be capable of— (A) satisfying the conditions of the disposition plan developed under paragraph (2) for the project; (B) implementing a sound financial and physical management program that is designed to …
“subsidized project” applies in that section
The term “subsidized project” means a multifamily housing project that, immediately prior to the assignment of the mortgage on such project to, or the acquisition of such mortgage by, the Secretary, was receiving any of the following types of assistance: (A) Below market interest rate mortgage insurance under the proviso of section 221(d)(5) of the National Housing Act [ 12 U.S.C. 1715 l (d)(5)]. (B) Interest reduction payments made in connection with mortgages insured under section 236 of the National Housing Act [ 12 U.S.C. 1715z–1 ]. (C) Direct loans made under section 1701q of this title .
“unsubsidized project” applies in that section
The term “unsubsidized project” means a multifamily housing project owned by the Secretary that is not a subsidized project or a formerly subsidized project. (5) Affordable A unit shall be considered affordable if— (A) for units occupied— (i) by very low-income families, the rent does not exceed 30 percent of 50 percent of the area median income, as determined by the Secretary, with adjustments for smaller and larger families; and (ii) by low-income families other than very low-income families, the rent does not exceed 30 percent of 80 percent of the area median income, as determined by the Secretary, with adjustments for smaller and larger families; or (B) the unit, or the family residing …
“solar energy system” applies in that section
the term “solar energy system” means any addition, alteration, or improvement to an existing or new structure which is designed to utilize wind energy or solar energy either of the active type based on mechanically forced energy transfer or of the passive type based on convective, conductive, or radiant energy transfer or some combination of these types to reduce the energy requirements of that structure from other energy sources, and which is in conformity with such criteria and standards as shall be prescribed by the Secretary in consultation with the Secretary of Energy.
“base loan” applies in that section
The term “base loan” means any mortgage loan for a residential building eligible for insurance under title II of the National Housing Act [ 12 U.S.C. 1707 et seq.] or title 38 that does not include the cost of cost-effective energy improvements.;
“cost-effective” applies in that section
The term “cost-effective” means, with respect to energy efficiency improvements to a residential building, improvements that result in the total present value cost of the improvements (including any maintenance and repair expenses) being less than the total present value of the energy saved over the useful life of the improvement, when 100 percent of the cost of improvements is added to the base loan. For purposes of this paragraph, savings and cost-effectiveness shall be determined pursuant to a home energy rating report sufficient for purposes of the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation, or by other technically accurate methods.;
“energy efficient mortgage” applies in that section
The term “energy efficient mortgage” means a mortgage on a residential building that recognizes the energy savings of a home that has cost-effective energy saving construction or improvements (including solar water heaters, solar-assisted air conditioners and ventilators, super-insulation, and insulating glass and film) and that has the effect of not disqualifying a borrower who, but for the expenditures on energy saving construction or improvements, would otherwise have qualified for a base loan.;
“residential building” applies in that section
The term “residential building” means any attached or unattached single family residence. (d) Rule of construction This section may not be construed to affect any other programs of the Secretary of Housing and Urban Development for energy-efficient mortgages. The pilot program carried out under this section shall not replace or result in the termination of such other programs. (e) Regulations The Secretary shall issue any regulations necessary to carry out this section not later than the expiration of the 180-day period beginning on October 24, 1992 .
“energy efficient mortgage” applies in that section
the term “energy efficient mortgage” has the same meaning as given that term in paragraph (24) of section 12704 of title 42 . (b) Recommendations to eliminate barriers to use of energy efficient mortgages (1) In general Not later than 180 days after July 30, 2008 , the Secretary of Housing and Urban Development, in conjunction with the Secretary of Energy and the Administrator of the Environmental Protection Agency, shall consult with the residential mortgage industry and States to develop recommendations to eliminate the barriers that exist to increasing the availability, use, and purchase of energy efficient mortgages, including such barriers as— (A) the lack of reliable and accessible …
“Administrator” applies in that section
The term “Administrator” means the Administrator of the Federal Energy Administration; except that after such Administration ceases to exist, such term means any officer of the United States designated by the President for purposes of this section. (2) The term “approved”, with respect to an energy conservation measure or a renewable-resource energy measure, means any such measure which is included on a list of such measures which is published by the Administrator of the Federal Energy Administration pursuant to section 365(e)(1) of the Energy Policy and Conservation Act [ 42 U.S.C. 6325(e)(1) ].
“energy audit” applies in that section
The terms “energy audit”, “energy conservation measure”, and “renewable-resource energy measure” have the meanings given the terms in section 361(c) of the Energy Policy and Conservation Act [ 42 U.S.C. 6321(c) ]. (j) Authorization of appropriations There is authorized to be appropriated, for purposes of this section, not to exceed $200,000,000. Any amount appropriated pursuant to this subsection shall remain available until expended.
“energy conservation measure” applies in that section
The terms “energy audit”, “energy conservation measure”, and “renewable-resource energy measure” have the meanings given the terms in section 361(c) of the Energy Policy and Conservation Act [ 42 U.S.C. 6321(c) ]. (j) Authorization of appropriations There is authorized to be appropriated, for purposes of this section, not to exceed $200,000,000. Any amount appropriated pursuant to this subsection shall remain available until expended.
“renewable-resource energy measure” applies in that section
The terms “energy audit”, “energy conservation measure”, and “renewable-resource energy measure” have the meanings given the terms in section 361(c) of the Energy Policy and Conservation Act [ 42 U.S.C. 6321(c) ]. (j) Authorization of appropriations There is authorized to be appropriated, for purposes of this section, not to exceed $200,000,000. Any amount appropriated pursuant to this subsection shall remain available until expended.
“developed lot” applies in that section
the term “developed lot” includes an interest in a condominium project (including any interest in the common areas) or a share in a cooperative association; (B) a loan to finance the purchase of a manufactured home or a manufactured home and lot may also finance the purchase of a garage, patio, carport, or other comparable appurtenance; and (C) a loan to finance the purchase of a manufactured home or a manufactured home and lot shall be secured by a first lien upon such home or home and lot, its furnishings, equipment, accessories, and appurtenances.
“energy conserving improvements” applies in that section
the term “energy conserving improvements” means the purchase and installation of weatherization materials as defined in section 6862(9) of title 42 ; and 1;
“evaluation” applies in that section
the terms “evaluation”, “reduction”, and “lead-based paint hazard” have the same meanings given those terms in section 4851b of title 42 . (b) Conditions for denial of insurance (1) Except as provided in the last sentence of this paragraph, no insurance shall be granted under this section to any such financial institution with respect to any obligation representing any such loan, advance of credit, or purchase by it if the amount of such loan, advance of credit, or purchase exceeds— (A) $75,000 if made for the purpose of financing alterations, repairs, and improvements upon or in connection with an existing single-family structure, including a manufactured home; (B) $150,000 or an average …
“fire safety equipment” applies in that section
the term “fire safety equipment” means any device or facility which is designed to reduce the risk of personal injury or property damage resulting from fire and is in conformity with such criteria and standards as shall be prescribed by the Secretary;
“historic structures” applies in that section
the term “historic structures” means residential structures which are registered in the National Register of Historic Places or which are certified by the Secretary of the Interior to conform to National Register criteria; and
“lead-based paint hazard” applies in that section
the terms “evaluation”, “reduction”, and “lead-based paint hazard” have the same meanings given those terms in section 4851b of title 42 . (b) Conditions for denial of insurance (1) Except as provided in the last sentence of this paragraph, no insurance shall be granted under this section to any such financial institution with respect to any obligation representing any such loan, advance of credit, or purchase by it if the amount of such loan, advance of credit, or purchase exceeds— (A) $75,000 if made for the purpose of financing alterations, repairs, and improvements upon or in connection with an existing single-family structure, including a manufactured home; (B) $150,000 or an average …
“manufactured home” applies in that section
the term “manufactured home” includes any elder cottage housing opportunity unit that is small, freestanding, barrier-free, energy efficient, removable, and designed to be installed adjacent to an existing 1- to 4-family dwelling.
“preservation” applies in that section
the term “preservation” means restoration or rehabilitation undertaken for such purposes as are approved by the Secretary in regulations issued by him, after consulting with the Secretary of the Interior. Other than in connection with a manufactured home or a lot on which to place such a home (or both), in no case shall the insurance granted by the Secretary under this section to any such financial institution on loans, advances of credit, and purchases made by such financial institution for such purposes exceed 10 per centum of the total amount of such loans, advances of credit, and purchases.
“reduction” applies in that section
the terms “evaluation”, “reduction”, and “lead-based paint hazard” have the same meanings given those terms in section 4851b of title 42 . (b) Conditions for denial of insurance (1) Except as provided in the last sentence of this paragraph, no insurance shall be granted under this section to any such financial institution with respect to any obligation representing any such loan, advance of credit, or purchase by it if the amount of such loan, advance of credit, or purchase exceeds— (A) $75,000 if made for the purpose of financing alterations, repairs, and improvements upon or in connection with an existing single-family structure, including a manufactured home; (B) $150,000 or an average …
“solar energy system” applies in that section
the term “solar energy system” means any addition, alteration, or improvement to an existing or new structure which is designed to utilize wind energy or solar energy either of the active type based on mechanically forced energy transfer or of the passive type based on convective, conductive, or radiant energy transfer or some combination of these types to reduce the energy requirements of that structure from other energy sources, and which is in conformity with such criteria and standards as shall be prescribed by the Secretary in consultation with the Secretary of Energy. 2;
“child” applies in that section
The term “child” means, with respect to a mortgagor under such section, a son, stepson, daughter, or stepdaughter of such mortgagor.;
“family member” applies in that section
The term “family member” means, with respect to a mortgagor under such section, a child, parent, or grandparent of the mortgagor (or the mortgagor’s spouse). In determining whether any of the relationships referred to in the preceding sentence exist, a legally adopted son or daughter of an individual (and a child who is a member of an individual’s household, if placed with such individual by an authorized placement agency for legal adoption by such individual), and a foster child of an individual, shall be treated as a child of such individual by blood.;
“first mortgage” applies in that section
the term “first mortgage” means such classes of first liens as are commonly given to secure advances on, or the unpaid purchase price of, real estate, under the laws of the State, in which the real estate is located, together with the credit instruments, if any, secured thereby.;
“maturity date” applies in that section
The term “maturity date” means the date on which the mortgage indebtedness would be extinguished if paid in accordance with periodic payments provided for in the mortgage.;
“mortgage” applies in that section
The term “mortgage” means (A) a first mortgage on real estate, in fee simple, (B) a first mortgage on a leasehold on real estate (i) under a lease for not less than ninety-nine years which is renewable, or (ii) under a lease having a period of not less than ten years to run beyond the maturity date of the mortgage, or (C) a first mortgage given to secure the unpaid purchase price of a fee interest in, or long-term leasehold interest in, real estate consisting of a one-family unit in a multifamily project, including a project in which the dwelling units are attached, or are manufactured housing units, semi-detached, or detached, and an undivided interest in the common areas and facilities …
“mortgagee” applies in that section
The term “mortgagee” includes the original lender under a mortgage, and his successors and assigns approved by the Secretary; and
“mortgagor” applies in that section
the term “mortgagor” includes the original borrower under a mortgage and his successors and assigns.;
“real estate” applies in that section
The term “real estate” means land and all natural resources and structures permanently affixed to the land, including residential buildings and stationary manufactured housing. The Secretary may not require, for treatment of any land or other property as real estate for purposes of this subchapter, that such land or property be treated as real estate for purposes of State taxation.
“State” applies in that section
The term “State” includes the several States, and Puerto Rico, the District of Columbia, Guam, the Commonwealth of the Northern Mariana Islands, American Samoa, and the Virgin Islands.;
“mortgagee” applies in that section
the term “mortgagee” means— (A) a mortgagee approved under this chapter; (B) a lender or a loan correspondent approved under subchapter I of this chapter; (C) a branch office or subsidiary of the mortgagee, lender, or loan correspondent; or (D) a director, officer, employee, agent, or other person participating in the conduct of the affairs of the mortgagee, lender, or loan correspondent.
“appraised value of the property” applies in that section
The terms “appraised value of the property”, “value of the property”, and “value” include the appraised value of a dwelling unit in a cooperative housing project of the type described in subparagraph (A) where the purchase of the stock or membership involved will entitle the purchaser to the permanent occupancy of that unit; and
“area” applies in that section
the term “area” means a metropolitan statistical area as established by the Office of Management and Budget; and the median 1-family house price for an area shall be equal to the median 1-family house price of the county within the area that has the highest such median price. Notwithstanding any other provision of this paragraph, the amount which may be insured under this section may be increased by up to 20 percent if such increase is necessary to account for the increased cost of the residence due to the installation of a solar energy system (as defined in subparagraph (3) of the last paragraph of section 1703(a) of this title ) therein.
“home mortgage” applies in that section
The terms “home mortgage” and “mortgage” include a first or subordinate mortgage or lien given (in accordance with the laws of the State where the property is located and accompanied by such security and other undertakings as may be required under regulations of the Secretary) to secure a loan made to finance the purchase of stock or membership in a cooperative ownership housing corporation the permanent occupancy of the dwelling units of which is restricted to members of such corporation, where the purchase of such stock or membership will entitle the purchaser to the permanent occupancy of one of such units.;
“mortgage” applies in that section
The terms “home mortgage” and “mortgage” include a first or subordinate mortgage or lien given (in accordance with the laws of the State where the property is located and accompanied by such security and other undertakings as may be required under regulations of the Secretary) to secure a loan made to finance the purchase of stock or membership in a cooperative ownership housing corporation the permanent occupancy of the dwelling units of which is restricted to members of such corporation, where the purchase of such stock or membership will entitle the purchaser to the permanent occupancy of one of such units.;
“mortgage charge rate” applies in that section
the term “mortgage charge rate” means the amount of mortgage charges for an insured mortgage expressed as a percentage of the initial principal amount of the mortgage. (v) Use of FHA insurance with assistance under 42 U.S.C. 1437f The insurance of a mortgage under this section in connection with the assistance provided under section 1437f(y) of title 42 shall be the obligation of the Mutual Mortgage Insurance Fund. (w) Annual report The Secretary of Housing and Urban Development shall submit to the Congress an annual report on the single family mortgage insurance program under this section.
“mortgage charges” applies in that section
the term “mortgage charges” includes the interest rate, discount points, loan origination fee, and any other amount charged to a mortgagor with respect to an insured mortgage; and;
“mortgagor” applies in that section
The term “mortgagor” includes a person or persons giving a first or subordinate mortgage or lien (of the type described in subparagraph (A)) to secure a loan to finance the purchase of stock or membership in a cooperative housing corporation. (o) Repealed. Pub. L. 110–289, div. B, title I, § 2120(a)(2) , July 30, 2008 , 122 Stat. 2835 (p) Repealed. Pub. L. 110–289, div. B, title I, § 2120(a)(3) , July 30, 2008 , 122 Stat. 2835 (q) Repealed. Pub. L. 110–289, div. B, title I, § 2120(a)(4) , July 30, 2008 , 122 Stat.
“property” applies in that section
the term “property” includes a dwelling unit in such a cooperative project.;
“rehabilitation” applies in that section
the term “rehabilitation” means the improvement (including improvements designed to meet cost-effective energy conservation standards prescribed by the Secretary) or repair of a structure, or facilities in connection with a structure, and may include the provision of such sanitary or other facilities as are required by applicable codes, a community development plan, or a statewide property insurance plan to be provided by the owner or tenant of the project. The term “rehabilitation” may also include measures to evaluate and reduce lead-based paint hazards, as such terms are defined in section 4851b of title 42 .
“rehabilitation loan” applies in that section
the term “rehabilitation loan” means a loan, advance of credit, or purchase of an obligation representing a loan or advance of credit, made for the purpose of financing— (i) the rehabilitation of an existing one- to four-unit structure which will be used primarily for residential purposes; (ii) the rehabilitation of such a structure and the refinancing of the outstanding indebtedness on such structure and the real property on which the structure is located; or (iii) the rehabilitation of such a structure and the purchase of the structure and the real property on which it is located; and;
“substitute mortgagor” applies in that section
the term “substitute mortgagor” means a person who, upon the release by a mortgagee of a previous mortgagor from personal liability on the mortgage note, assumes such liability and agrees to pay the mortgage debt.
“value” applies in that section
The terms “appraised value of the property”, “value of the property”, and “value” include the appraised value of a dwelling unit in a cooperative housing project of the type described in subparagraph (A) where the purchase of the stock or membership involved will entitle the purchaser to the permanent occupancy of that unit; and
“value of the property” applies in that section
The terms “appraised value of the property”, “value of the property”, and “value” include the appraised value of a dwelling unit in a cooperative housing project of the type described in subparagraph (A) where the purchase of the stock or membership involved will entitle the purchaser to the permanent occupancy of that unit; and
“asset control area” applies in that section
The term “asset control area” means the area established by a preferred purchaser pursuant to paragraph (4)(B)(i). (B) Asset property
“asset property” applies in that section
The term “asset property” means— (i) with respect to an eligible asset that is a property, such property; and (ii) with respect to an eligible asset that is a mortgage, the property that is subject to the mortgage. (C) Eligible asset
“contract mortgagee” applies in that section
The term “contract mortgagee” means a person or entity under a contract with the Secretary that provides for the assignment of a single-family mortgage from the Secretary to the person or entity for the purpose of pursuing foreclosure. (B) the 6
“eligible asset” applies in that section
the term “eligible asset” means any of the following categories of assets of the Secretary, unless the Secretary determines at any time that the asset property is economically or otherwise infeasible to rehabilitate or that the best use of the asset property is as open space (including park land): (A) Properties Any property that— (i) is designed as a dwelling for occupancy by 1 to 4 families; (ii) is located in a revitalization area; (iii) was previously subject to a mortgage insured under the provisions of this chapter; and (iv) is owned by the Secretary pursuant to the payment of insurance benefits under this chapter.
“Indian tribe” applies in that section
The term “Indian tribe” has the same meaning as in section 1715z–13(i)(I) 5 of this title. (9) Secretary’s discretion The Secretary shall have the authority to implement and administer the program under this subsection in such manner as the Secretary may determine. The Secretary may, in the sole discretion of the Secretary, enter into contracts to provide for the proper administration of the program with such public or nonprofit entities as the Secretary determines are qualified.
“mortgage” applies in that section
term “mortgage” means a deed of trust, mortgage, deed to secure debt, security agreement, or any other form of instrument under which any interest in property, real, personal, or mixed, or any interest in property, including leaseholds, life estates, reversionary interests, and any other estates under applicable State law, is conveyed in trust, mortgaged, encumbered, pledged, or otherwise rendered subject to a lien, for the purpose of securing the payment of money or the performance of an obligation.;
“nonprofit organization” applies in that section
The term “nonprofit organization” means a private organization that— (i) is organized under State or local laws; (ii) has no part of its net earnings inuring to the benefit of any member, shareholder, founder, contributor, or individual; and (iii) complies with standards of financial responsibility that the Secretary may require. (E) Preferred purchaser
“preferred purchaser” applies in that section
The term “preferred purchaser” means a purchaser described in paragraph (4). (F) Unit of general local government
“Secretary-held single family mortgage” applies in that section
The term “Secretary-held single family mortgage” means a single-family mortgage held by the Secretary or by a contract mortgagee at the time of initiation of foreclosure that— (i) was formerly insured by the Secretary under any section of this subchapter; or (ii) was taken by the Secretary as a purchase money mortgage in connection with the sale or other transfer of Secretary-owned property under any section of this subchapter.;
“single-family mortgage” applies in that section
the term “single-family mortgage” means a mortgage that covers property on which is located a 1-to-4 family residence.
“State” applies in that section
The term “State” means any State of the United States, the District of Columbia, the Commonwealth of Puerto Rico, Guam, American Samoa, the Virgin Islands, the Northern Mariana Islands, or any agency or instrumentality thereof that is established pursuant to legislation and designated by the chief executive officer to act on behalf of the State with regard to provisions of this subjection. 4 (H) Indian tribe
“unit of general local government” applies in that section
The term “unit of general local government” means any city, town, township, county, parish, village, or other general purpose political subdivision of a State, and any agency or instrumentality thereof that is established pursuant to legislation and designated by the chief executive officer to act on behalf of the jurisdiction with regard to the provisions of this subsection. (G) State
“capital” applies in that section
The term “capital” means the economic net worth of the Mutual Mortgage Insurance Fund, as determined by the Secretary under the annual audit required under section 1735f–16 of this title .;
“capital ratio” applies in that section
The term “capital ratio” means the ratio of capital to unamortized insurance-in-force.;
“economic net worth” applies in that section
The term “economic net worth” means the current cash available to the Fund, plus the net present value of all future cash inflows and outflows expected to result from the outstanding mortgages in the Fund.;
“unamortized insurance-in-force” applies in that section
The term “unamortized insurance-in-force” means the remaining obligation on outstanding mortgages which are obligations of the Mutual Mortgage Insurance Fund, as estimated by the Secretary.
“first mortgage” applies in that section
the term “first mortgage” means such classes of first liens as are commonly given to secure advances (including but not being limited to advances during construction) on, or the unpaid purchase price of, real estate under the laws of the State, in which the real estate is located, together with the credit instrument or instruments, if any, secured thereby, and may be in the form of trust mortgages or mortgage indentures or deeds of trust securing notes, bonds, or other credit instruments.;
“maturity date” applies in that section
The term “maturity date” means the date on which the mortgage indebtedness would be extinguished if paid in accordance with the periodic payments provided for in the mortgage.;
“mortgage” applies in that section
The term “mortgage” means a first mortgage on real estate in fee simple, or on the interest of either the lessor or lessee thereof (A) under a lease for not less than ninety-nine years which is renewable or (B) under a lease having a period of not less than fifty years to run from the date the mortgage was executed, upon which there is located or upon which there is to be constructed a building or buildings designed principally for residential use, or upon which there is located or to be constructed facilities for manufactured homes, and
“mortgagee” applies in that section
The term “mortgagee” means the original lender under a mortgage, and its successors and assigns, and includes the holders of credit instruments issued under a trust mortgage or deed of trust pursuant to which such holders act by and through a trustee therein named.;
“mortgagor” applies in that section
The term “mortgagor” means the original borrower under a mortgage and its successors and assigns.;
“rental housing” applies in that section
The term “rental housing” means housing, the occupancy of which is permitted by the owner thereof in consideration of the payment of agreed charges, whether or not, by the terms of the agreement, such payment over a period of time will entitle the occupant to the ownership of the premises or space in a manufactured home court or park properly arranged and equipped to accommodate manufactured homes.;
“slum or blighted area” applies in that section
The term “slum or blighted area” means any area where dwellings predominate which, by reason of dilapidation, overcrowding, faulty arrangement or design, lack of ventilation, light or sanitation facilities, or any combination of these factors, are detrimental to safety, health, or morals.;
“State” applies in that section
The term “State” includes the several States, and Puerto Rico, the District of Columbia, Guam, the Trust Territory of the Pacific Islands, American Samoa, and the Virgin Islands. (b) Insurance of additional mortgages In addition to mortgages insured under section 1709 of this title , the Secretary is authorized to insure mortgages as defined in this section (including advances on such mortgages during construction) which cover property held by— (1) Federal or State instrumentalities, municipal corporate instrumentalities of one or more States, or limited dividend or redevelopment or housing corporations restricted by Federal or State laws or regulations of State banking or insurance …
“actual cost” applies in that section
the term “actual cost” means the cost to the borrower of the improvement, including the amounts paid for labor, materials, construction contracts, off-site public utilities, streets, organization and legal expenses, such allocations of general overhead items as are acceptable to the Secretary, and other items of expense approved by the Secretary, plus a reasonable allowance for builder’s profit if the borrower is also the builder, as defined by the Secretary, and excluding the amount of any kickbacks, rebates, or trade discounts received in connection with the improvement.
“financial institution” applies in that section
the term “financial institution” means a lender approved by the Secretary as eligible for insurance under section 1703 of this title or a mortgagee approved under section 1709(b)(1) of this title . (2) To be eligible for insurance under this subsection, a home improvement loan shall— (i) not exceed the Secretary’s estimate of the cost of improvement, or $12,000 per family unit, whichever is the lesser, and be limited as required by paragraph (11): Provided , That the Secretary may, by regulation, increase such amount by not to exceed 45 per centum in any geographical area where he finds that cost levels so require; (ii) be limited to an amount which when added to any outstanding …
“home improvement loan” applies in that section
the term “home improvement loan” means a loan, advance of credit, or purchase of an obligation representing a loan or advance of credit made— (i) for the purpose of financing the improvement of an existing structure (or in connection with an existing structure) which was constructed not less than ten years prior to the making of such loan, advance of credit, or purchase, and which is used or will be used primarily for residential purposes: Provided , That a home improvement loan shall include a loan, advance, or purchase with respect to the improvement of a structure which was constructed less than ten years prior to the making of such loan, advance, or purchase if the proceeds are or will …
“improvement” applies in that section
the term “improvement” means conservation, repair, restoration, rehabilitation, conversion, alteration, enlargement, or remodeling; and;
“veteran” applies in that section
the term “veteran” means any person who served on active duty in the Armed Forces of the United States for a period of not less than ninety days (or is certified by the Secretary of Defense as having performed extrahazardous service), and who was discharged or released therefrom under conditions other than dishonorable, except that persons enlisting in the armed forces after September 7, 1980 , or entering active duty after October 16, 1981 , shall have their eligibility determined in accordance with section 5303A(d) of title 38 ; and (ii) in no case involving refinancing have a principal obligation in an amount exceeding the sum of the estimated cost of repair and rehabilitation and the …
“common areas and facilities” applies in that section
the term “common areas and facilities” includes the land and such commercial, community, and other facilities as are approved by the Secretary. (j) Conversion of insured rental projects to cooperatives; eligibility for membership; insurance of cooperative mortgages financing purchase of projects; eligibility for insurance (1) The Secretary is authorized, with respect to any rental project involving a mortgage insured under subsection (d)(3) which bears interest at the below-market interest rate prescribed in the proviso of subsection (d)(5), to permit a conversion of the ownership of such project to a cooperative approved by the Secretary.
“displaced families” applies in that section
the terms “displaced family”, “displaced families”, and “displaced person” shall mean a family or families, or a person, displaced from an urban renewal area, or as a result of governmental action, or as a result of a major disaster as determined by the President pursuant to the Disaster Relief and Emergency Assistance Act [ 42 U.S.C. 5121 et seq.].
“displaced family” applies in that section
the terms “displaced family”, “displaced families”, and “displaced person” shall mean a family or families, or a person, displaced from an urban renewal area, or as a result of governmental action, or as a result of a major disaster as determined by the President pursuant to the Disaster Relief and Emergency Assistance Act [ 42 U.S.C. 5121 et seq.].
“displaced person” applies in that section
the terms “displaced family”, “displaced families”, and “displaced person” shall mean a family or families, or a person, displaced from an urban renewal area, or as a result of governmental action, or as a result of a major disaster as determined by the President pursuant to the Disaster Relief and Emergency Assistance Act [ 42 U.S.C. 5121 et seq.].
“eligible multifamily housing” applies in that section
the term “eligible multifamily housing” means any housing financed by a loan or mortgage that is (A) insured or held by the Secretary under subsection (d)(3) and assisted under section 1701s of this title or section 8 of the United States Housing Act of 1937 [ 42 U.S.C. 1437f ]; or (B) insured or held by the Secretary and bears interest at a rate determined under the proviso of subsection (d)(5).
“individual dwelling” applies in that section
the terms “single-family dwelling”, “single-family dwellings”, “individual dwelling”, and “individual dwellings” shall mean a family unit or family units, together with the undivided interest (or interests) in the common areas and facilities. (8) For purposes of this subsection, the terms “single-family dwelling” and “single-family dwellings” (except for purposes of paragraph (7)) shall include a two-family dwelling which has been approved by the Secretary.
“individual dwellings” applies in that section
the terms “single-family dwelling”, “single-family dwellings”, “individual dwelling”, and “individual dwellings” shall mean a family unit or family units, together with the undivided interest (or interests) in the common areas and facilities. (8) For purposes of this subsection, the terms “single-family dwelling” and “single-family dwellings” (except for purposes of paragraph (7)) shall include a two-family dwelling which has been approved by the Secretary.
“single-family dwelling” applies in that section
the terms “single-family dwelling”, “single-family dwellings”, “individual dwelling”, and “individual dwellings” shall mean a family unit or family units, together with the undivided interest (or interests) in the common areas and facilities. (8) For purposes of this subsection, the terms “single-family dwelling” and “single-family dwellings” (except for purposes of paragraph (7)) shall include a two-family dwelling which has been approved by the Secretary.
“single-family dwellings” applies in that section
the terms “single-family dwelling”, “single-family dwellings”, “individual dwelling”, and “individual dwellings” shall mean a family unit or family units, together with the undivided interest (or interests) in the common areas and facilities. (8) For purposes of this subsection, the terms “single-family dwelling” and “single-family dwellings” (except for purposes of paragraph (7)) shall include a two-family dwelling which has been approved by the Secretary.
“operating loss” applies in that section
the term “operating loss” means the amount by which the sum of the taxes, interest on the mortgage debt, mortgage insurance premiums, hazard insurance premiums, and the expense of maintenance and operation of the project covered by the mortgage, exceeds the income of the project.
“approved percentage” applies in that section
The term “approved percentage” means the percentage figure which, under applicable provisions of this chapter, the Secretary is authorized to apply to his estimate of value, cost, or replacement costs, as the case may be, of the property or project in determining the maximum insurable mortgage amount; except that if the mortgage is to assist the financing of repair or rehabilitation and no part of the proceeds will be used to finance the purchase of the land or structure involved, the approved percentage shall be 100 per centum; and (3) The term “actual cost” has the following meaning: (i) in case the mortgage is to assist the financing of new construction, the term means the actual cost to …
“new or rehabilitated multifamily housing” applies in that section
The term “new or rehabilitated multifamily housing” means a project or property approved for mortgage insurance prior to the construction or the repair and rehabilitation involved and covered by a mortgage insured or to be insured (i) under section 1713 of this title , (ii) under section 1715e of this title with respect to any property or project of a corporation or trust of the character described in paragraph (1) of subsection (a) of section 1715e of this title or with respect to any property or project of a mortgagor of the character described in paragraph (3) of subsection (a) thereof, (iii) under section 1715k of this title if the mortgage meets the requirements of paragraph (3)(B) of …
“insured mortgage covering a tax credit project” applies in that section
the term “insured mortgage covering a tax credit project” means a mortgage insured under any provision of this subchapter that is executed in connection with the construction, rehabilitation, purchase, or refinancing of a multifamily housing project for which equity 1 provided through any low-income housing tax credit pursuant to section 42 of title 26 . (b) Acceptance of letters of credit In the case of an insured mortgage covering a tax credit project, the Secretary may not require the escrowing of equity provided by the sale of any low-income housing tax credits for the project pursuant to section 42 of title 26 , or any other form of security, such as a letter of credit.
“elderly person” applies in that section
the term “elderly person” means any person, married or single, who is sixty-two years of age or over; and (3) the terms “mortgage”, “mortgagee”, “mortgagor”, and “maturity date” shall have the meanings respectively set forth in section 1713 of this title . (b) Authorization The Secretary is authorized to insure any mortgage (including advances on mortgages during construction) in accordance with the provisions of this section upon such terms and conditions as he may prescribe and to make commitments for insurance of such mortgages prior to the date of their execution or disbursement thereon.
“housing” applies in that section
the term “housing” means eight or more new or rehabilitated living units, not less than 50 per centum of which are specially designed for the use and occupancy of elderly persons;
“assisted living facility” applies in that section
the term “assisted living facility” means a public facility, proprietary facility, or facility of a private nonprofit corporation that— (A) is licensed and regulated by the State (or if there is no State law providing for such licensing and regulation by the State, by the municipality or other political subdivision in which the facility is located); (B) makes available to residents supportive services to assist the residents in carrying out activities of daily living, such as bathing, dressing, eating, getting in and out of bed or chairs, walking, going outdoors, using the toilet, laundry, home management, preparing meals, shopping for personal items, obtaining and taking medication, …
“board and care home” applies in that section
the term “board and care home” means any residential facility providing room, board, and continuous protective oversight that is regulated by a State pursuant to the provisions of section 1616(e) of the Social Security Act [ 42 U.S.C. 1382e(e) ], so long as the home is located in a State that, at the time of an application is made for insurance under this section, has demonstrated to the Secretary that it is in compliance with the provisions of such section 1616(e);
“first mortgage” applies in that section
The term “first mortgage” means such classes of first liens as are commonly given to secure advances (including but not limited to advances during construction) on, or the unpaid purchase price of, real estate under the laws of the State in which the real estate is located, together with the credit instrument or instruments, if any, secured thereby, and any mortgage may be in the form of one or more trust mortgages or mortgage indentures or deeds of trust, securing notes, bonds, or other credit instruments, and, by the same instrument or by a separate instrument, may create a security interest in initial equipment, whether or not attached to the realty.
“frail elderly person” applies in that section
the term “frail elderly person” has the meaning given the term in section 8011(k) of title 42 . (c) Authorization The Secretary is authorized to insure any mortgage (including advances on such mortgage during construction) in accordance with the provisions of this section upon such terms and conditions as he may prescribe and to make commitments for insurance of such mortgage prior to the date of its execution or disbursement thereon.
“intermediate care facility” applies in that section
the term “intermediate care facility” means a proprietary facility or facility of a private nonprofit corporation or association licensed or regulated by the State (or, if there is no State law providing for such licensing and regulation by the State, by the municipality or other political subdivision in which the facility is located) for the accommodation of persons who, because of incapacitating infirmities, require minimum but continuous care but are not in need of continuous medical or nursing services; (3) the term a 1 “nursing home” or “intermediate care facility” may include such additional facilities as may be authorized by the Secretary for the nonresident care of elderly …
“mortgage” applies in that section
the term “mortgage” means a first mortgage on real estate in fee simple, or on the interest of either the lessor or lessee thereof (A) under a lease for not less than ninety-nine years which is renewable, or (B) under a lease having a period of not less than ten years to run beyond the maturity date of the mortgage.
“nursing home” applies in that section
the term “nursing home” means a public facility, proprietary facility or facility of a private nonprofit corporation or association, licensed or regulated by the State (or, if there is no State law providing for such licensing and regulation by the State, by the municipality or other political subdivision in which the facility is located), for the accommodation of convalescents or other persons who are not acutely ill and not in need of hospital care but who require skilled nursing care and related medical services, in which such nursing care and medical services are prescribed by, or are performed under the general direction of, persons licensed to provide such care or services in …
“individual dwelling” applies in that section
the terms “single-family dwelling”, “single-family dwellings”, “individual dwelling”, and “individual dwellings” shall mean a family unit or family units, together with the undivided interest (or interests) in the common areas and facilities. (6) For purposes of this subsection, the terms “single-family dwelling” and “single-family dwellings” (except for purposes of paragraph (5)) shall include a two- to three-family dwelling which has been approved by the Secretary.
“individual dwellings” applies in that section
the terms “single-family dwelling”, “single-family dwellings”, “individual dwelling”, and “individual dwellings” shall mean a family unit or family units, together with the undivided interest (or interests) in the common areas and facilities. (6) For purposes of this subsection, the terms “single-family dwelling” and “single-family dwellings” (except for purposes of paragraph (5)) shall include a two- to three-family dwelling which has been approved by the Secretary.
“net appreciation of the property” applies in that section
the term “net appreciation of the property” means any increase in the value of the property over the original purchase price, less the reasonable costs of sale, the reasonable costs of improvements made to the property, and any increase in the mortgage amount as of the time of sale over the original mortgage balance due to the mortgage being insured pursuant to section 1715z–10 1 of this title. Notwithstanding any other provision of law, any such assistance shall constitute a debt secured by the property to the extent that the Secretary may provide for such recapture.
“single-family dwelling” applies in that section
the terms “single-family dwelling”, “single-family dwellings”, “individual dwelling”, and “individual dwellings” shall mean a family unit or family units, together with the undivided interest (or interests) in the common areas and facilities. (6) For purposes of this subsection, the terms “single-family dwelling” and “single-family dwellings” (except for purposes of paragraph (5)) shall include a two- to three-family dwelling which has been approved by the Secretary.
“single-family dwellings” applies in that section
the terms “single-family dwelling”, “single-family dwellings”, “individual dwelling”, and “individual dwellings” shall mean a family unit or family units, together with the undivided interest (or interests) in the common areas and facilities. (6) For purposes of this subsection, the terms “single-family dwelling” and “single-family dwellings” (except for purposes of paragraph (5)) shall include a two- to three-family dwelling which has been approved by the Secretary.
“affiliate of the owner” applies in that section
the terms “affiliate of the owner” and “affiliate of the purchaser” means any person or entity (including, but not limited to, a general partner or managing member, or an officer of either) that controls an owner or purchaser, is controlled by an owner or purchaser, or is under common control with the owner or purchaser;
“affiliate of the purchaser” applies in that section
the terms “affiliate of the owner” and “affiliate of the purchaser” means any person or entity (including, but not limited to, a general partner or managing member, or an officer of either) that controls an owner or purchaser, is controlled by an owner or purchaser, or is under common control with the owner or purchaser;
“control” applies in that section
the term “control” means the direct or indirect power (under contract, equity ownership, the right to vote or determine a vote, or otherwise) to direct the financial, legal, beneficial or other interests of the owner or purchaser; and (E) if the project owner demonstrates to the satisfaction of the Secretary— (i) using information in a comprehensive needs assessment, that capital assistance under this subsection from a grant or loan (as appropriate) is needed for rehabilitation of the project; and (ii) that project income is not sufficient to support such rehabilitation.
“elderly families” applies in that section
the term “elderly families” means families which consist of two or more persons the head of which (or his spouse) is sixty-two years of age or over or is handicapped. Such term also means a single person who is sixty-two years of age or over or is handicapped. A person shall be considered handicapped if such person is determined, pursuant to regulations issued by the Secretary, to have an impairment which (A) is expected to be of long-continued and indefinite duration, (B) substantially impedes his ability to live independently, and (C) is of such a nature that such ability could be improved by more suitable housing conditions.
“income” applies in that section
the term “income” means income from all sources of each member of the household, as determined in accordance with criteria prescribed by the Secretary, except that any amounts not actually received by the family may not be considered as income under this subsection. In determining amounts to be excluded from income, the Secretary may, in the Secretary’s discretion, take into account the number of minor children in the household and such other factors as the Secretary may determine are appropriate. (n) Termination date for insurance of mortgages; exception No mortgage shall be insured under this section after November 30, 1983 , except pursuant to a commitment to insure before that date.
“rental” applies in that section
the terms “rental” and “rental charge” mean, with respect to members of a cooperative, the charges under the occupancy agreements between such members and the cooperative. (l) Allocation and transfer of reasonable portion of total authority to contract to make payments to Secretary of Agriculture for use in rural areas and small towns The Secretary shall from time to time allocate and transfer to the Secretary of Agriculture, for use (in accordance with the terms and conditions of this section) in rural areas and small towns, a reasonable portion of the total authority to contract to make periodic interest reduction payments as approved in appropriation Acts under subsection (i).
“rental charge” applies in that section
the terms “rental” and “rental charge” mean, with respect to members of a cooperative, the charges under the occupancy agreements between such members and the cooperative. (l) Allocation and transfer of reasonable portion of total authority to contract to make payments to Secretary of Agriculture for use in rural areas and small towns The Secretary shall from time to time allocate and transfer to the Secretary of Agriculture, for use (in accordance with the terms and conditions of this section) in rural areas and small towns, a reasonable portion of the total authority to contract to make periodic interest reduction payments as approved in appropriation Acts under subsection (i).
“rental housing project” applies in that section
the term “rental housing project” includes a cooperative housing project; and
“tenant” applies in that section
the term “tenant” includes a member of a cooperative;
“community development corporation” applies in that section
The term “community development corporation” means a nonprofit organization whose primary purpose is to promote community development by providing housing opportunities for low-income families. (B) Cost recovery basis
“cost recovery basis” applies in that section
The term “cost recovery basis” means, with respect to any sale of a residential property by the Secretary, that the purchase price paid by the purchaser is equal to or greater than the sum of: (i) the appraised value of the property, as determined in accordance with such requirements as the Secretary shall establish; and (ii) the costs incurred by the Secretary in connection with such property during the period beginning on the date on which the Secretary acquires title to the property and ending on the date on which the sale is consummated. (C) Multifamily housing project
“multifamily housing project” applies in that section
The term “multifamily housing project” has the meaning given the term in section 1701z–11 of this title . (D) Residential property
“qualified HUD property” applies in that section
the term “qualified HUD property” means any property for which, as of the date that notification of the property is first made under paragraph (3)(B), not less than 6 months have elapsed since the later of the date that the property was acquired by the Secretary or the date that the property was determined to be unoccupied or substandard, that is owned by the Secretary and is— (A) an unoccupied multifamily housing project; (B) a substandard multifamily housing project; or (C) an unoccupied single family property that— (i) has been determined by the Secretary not to be an eligible asset under section 1710(h) of this title ; or (ii) is an eligible asset under such section 1710(h) of this …
“residential property” applies in that section
The term “residential property” means a property that is a multifamily housing project or a single family property. (E) Secretary
“Secretary” applies in that section
The term “Secretary” means the Secretary of Housing and Urban Development. (F) Severe physical problems
“severe physical problems” applies in that section
The term “severe physical problems” means, with respect to a dwelling unit, that the unit— (i) lacks hot or cold piped water, a flush toilet, or both a bathtub and a shower in the unit, for the exclusive use of that unit; (ii) on not less than three separate occasions during the preceding winter months, was uncomfortably cold for a period of more than 6 consecutive hours due to a malfunction of the heating system for the unit; (iii) has no functioning electrical service, exposed wiring, any room in which there is not a functioning electrical outlet, or has experienced three or more blown fuses or tripped circuit breakers during the preceding 90-day period; (iv) is accessible through a …
“single family property” applies in that section
The term “single family property” means a 1- to 4-family residence. (H) Substandard
“substandard” applies in that section
The term “substandard” means, with respect to a multifamily housing project, that 25 percent or more of the dwelling units in the project have severe physical problems. (I) Unit of general local government
“unit of general local government” applies in that section
The term “unit of general local government” has the meaning given such term in section 5302(a) of title 42 . (J) Unoccupied
“unoccupied” applies in that section
The term “unoccupied” means, with respect to a residential property, that the unit of general local government having jurisdiction over the area in which the project is located has certified in writing that the property is not inhabited. (12) Regulations (A) Interim Not later than 30 days after December 21, 2000 , the Secretary shall issue such interim regulations as are necessary to carry out this subsection. (B) Final Not later than 60 days after December 21, 2000 , the Secretary shall issue such final regulations as are necessary to carry out this subsection.
“Hawaiian home lands” applies in that section
The term “Hawaiian home lands” means all lands given the status of Hawaiian home lands under section 204 of the Hawaiian Homes Commission Act of 1920 ( 42 Stat. 110 ), or under the corresponding provision of the Constitution of the State of Hawaii adopted under section 4 of the Act entitled “An Act to provide for the admission of the State of Hawaii into the Union”, approved March 18, 1959 ( 73 Stat. 5 ). (e) Certification of eligibility for existing lessees Possession of a lease of Hawaiian home lands issued under section 207(a) of the Hawaiian Homes Commission Act of 1920 ( 42 Stat. 110 ), shall be sufficient to certify eligibility to receive a mortgage under this section.
“native Hawaiian” applies in that section
The term “native Hawaiian” means any descendant of not less than one-half part of the blood of the races inhabiting the Hawaiian Islands before January 1, 1778 , or, in the case of an individual who is awarded an interest in a lease of Hawaiian home lands through transfer or succession, such lower percentage as may be established for such transfer or succession under section 208 or 209 of the Hawaiian Homes Commission Act of 1920 ( 42 Stat. 111 ), or under the corresponding provision of the Constitution of the State of Hawaii adopted under section 4 of the Act entitled “An Act to provide for the admission of the State of Hawaii into the Union”, approved March 18, 1959 ( 73 Stat. 5 ).
“Indian tribe” applies in that section
The term “Indian tribe” means any Indian or Alaska native tribe, band, nation, or other organized group or community of Indians or Alaska natives recognized as eligible for the services provided to Indians or Alaska natives by the Secretary of the Interior because of its status as such an entity, or that was an eligible recipient under chapter 67 of title 31, prior to the repeal of such chapter.;
“trust or otherwise restricted land” applies in that section
The term “trust or otherwise restricted land” means (A) that area of land, as defined by the Secretary of the Interior, over which an Indian tribe is recognized by the United States as having governmental jurisdiction; (B) land held in trust for the benefit of any Indian tribe or individual or held by any Indian tribe or individual subject to a restriction by the United States against alienation; or (C) land acquired by Alaska natives under the Alaska Native Claims Settlement Act [ 43 U.S.C. 1601 et seq.] or any other land acquired by Alaska natives pursuant to statute by virtue of their unique status as Alaska natives.
“family” applies in that section
The term “family” means 1 or more persons maintaining a household, as the Secretary shall by regulation provide.;
“Guarantee Fund” applies in that section
The term “Guarantee Fund” means the Indian Housing Loan Guarantee Fund established under subsection (i).;
“Indian” applies in that section
The term “Indian” means person recognized as being Indian or Alaska Native by an Indian tribe, the Federal Government, or any State.;
“Indian area” applies in that section
The term “Indian area” means the area within which an Indian housing authority or Indian tribe is authorized to provide housing.;
“Indian housing authority” applies in that section
The term “Indian housing authority” means any entity that— (A) is authorized to engage in or assist in the development or operation of— (i) low-income housing for Indians; or (ii) housing subject to the provisions of this section; and (B) is established— (i) by exercise of the power of self-government of an Indian tribe independent of State law; or (ii) by operation of State law providing specifically for housing authorities for Indians, including regional housing authorities in the State of Alaska. The term includes tribally designated housing entities under the Native American Housing Assistance and Self-Determination Act of 1996 [ 25 U.S.C. 4101 et seq.].;
“Indian tribe” applies in that section
The term “tribe” or “Indian tribe” means any Indian tribe, band, nation, or other organized group or community of Indians, including any Alaska Native village or regional or village corporation as defined in or established pursuant to the Alaska Native Claims Settlement Act [ 43 U.S.C. 1601 et seq.], that is recognized as eligible for the special programs and services provided by the United States to Indians because of their status as Indians pursuant to the Indian Self-Determination and Education Assistance Act of 1975 [ 25 U.S.C. 5301 et seq.].;
“Secretary” applies in that section
The term “Secretary” means the Secretary of Housing and Urban Development.;
“standard housing” applies in that section
The term “standard housing” means a dwelling unit or housing that complies with the requirements established under subsection (j). (8) Tribe; indian tribe .—
“tribe” applies in that section
The term “tribe” or “Indian tribe” means any Indian tribe, band, nation, or other organized group or community of Indians, including any Alaska Native village or regional or village corporation as defined in or established pursuant to the Alaska Native Claims Settlement Act [ 43 U.S.C. 1601 et seq.], that is recognized as eligible for the special programs and services provided by the United States to Indians because of their status as Indians pursuant to the Indian Self-Determination and Education Assistance Act of 1975 [ 25 U.S.C. 5301 et seq.].;
“trust land” applies in that section
The term “trust land” means land title to which is held by the United States for the benefit of an Indian or Indian tribe or title to which is held by an Indian tribe subject to a restriction against alienation imposed by the United States.
“Department of Hawaiian Home Lands” applies in that section
The term “Department of Hawaiian Home Lands” means the agency or department of the government of the State of Hawaii that is responsible for the administration of the Hawaiian Homes Commission Act, 1920 ( 42 Stat. 108 et seq.). (2) Eligible entity