12 USC 2802 – Definitions
For purposes of this chapter—
(1) the term “Bureau” means the Bureau of Consumer Financial Protection;
(2) the term “mortgage loan” means a loan which is secured by residential real property or a home improvement loan;
(3) the term “depository institution”—
(A) means—
(i) any bank (as defined in section 1813(a)(1) of this title);
(ii) any savings association (as defined in section 1813(b)(1) of this title); and
(iii) any credit union,
which makes federally related mortgage loans as determined by the Board; and
(B) includes any other lending institution (as defined in paragraph (4) 1) other than any institution described in subparagraph (A);
(4) the term “completed application” means an application in which the creditor has received the information that is regularly obtained in evaluating applications for the amount and type of credit requested;
(5) the term “other lending institutions” means any person engaged for profit in the business of mortgage lending;
(6) the term “Board” means the Board of Governors of the Federal Reserve System; and
(7) the term “Secretary” means the Secretary of Housing and Urban Development.
Terms Used In 12 USC 2802
- association: when used in reference to a corporation, shall be deemed to embrace the words "successors and assigns of such company or association" in like manner as if these last-named words, or words of similar import, were expressed. See 1 USC 5
- 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: The written agreement pledging property to a creditor as collateral for a loan.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.