Terms Used In 24 CFR Part 25 - Mortgagee Review Board

• Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. ^{Source: OCC}
• Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. ^{Source: OCC}
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• Quorum: The number of legislators that must be present to do business.
• written directive: shall include telegrams, telecopies and similar transcriptions. See 10 CFR 205.2