12 U.S.C. § 3702 : US Code - Section 3702: Definitions

Search 12 U.S.C. § 3702 : US Code - Section 3702: Definitions

As used in this chapter -
(1) "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;
(2) "multifamily mortgage" means a mortgage held by the
Secretary pursuant to -
(A) section 608 or 801, or title II or X, of the National
Housing Act [12 U.S.C. 1743, 1748, 1707 et seq., 1749aa et
seq.];
(B) section 312 of the Housing Act of 1964 [42 U.S.C. 1452b],
as it existed immediately before its repeal by section 289 of
the Cranston-Gonzalez National Affordable Housing Act;
(C) section 202 of the Housing Act of 1959 [12 U.S.C. 1701q],
as it existed immediately before its amendment by section 801
of the Cranston-Gonzalez National Affordable Housing Act;
(D) section 202 of the Housing Act of 1959 [12 U.S.C. 1701q],
as amended by section 801 of the Cranston-Gonzalez National
Affordable Housing Act; and
(E) section 811 of the Cranston-Gonzalez National Affordable
Housing Act [42 U.S.C. 8013].
(3) "mortgage agreement" means the note or debt instrument and
the mortgage instrument, deed of trust instrument, trust deed, or
instrument or instruments creating the mortgage, including any
instrument incorporated by reference therein (including any
applicable regulatory agreement), and any instrument or agreement
amending or modifying any of the foregoing;
(4) "mortgagor" means the obligor, grantor, or trustor named in
the mortgage agreement and, unless the context otherwise
indicates, includes the current owner of record of the security
property whether or not personally liable on the mortgage debt;
(5) "person" includes any individual, group of individuals,
association, partnership, corporation, or organization;
(6) "record" and "recorded" included "register" and
"registered" in the instance of registered land;
(7) "security property" means the property, real, personal or
mixed, or an interest in property, including leaseholds, life
estate, reversionary interests, and any other estates under
applicable State law, together with fixtures and other interests
subject to the lien of the mortgage under applicable State law;
(8) "State" means the several States, the District of Columbia,
the Commonwealth of Puerto Rico, the territories and possessions
of the United States, and the Trust Territory of the Pacific
Islands, and Indian tribes as defined by the Secretary;
(9) "county" means county as defined in section 2 of title 1;
and
(10) "Secretary" means the Secretary of Housing and Urban
Development.