### Statutory Notes
#### Codification
Section, which placed restrictions on loans, was from the Independent Offices Appropriation Act, 1953, act July 5, 1952, ch. 578, title III, § 301, 66 Stat. 415, and was not repeated in subsequent appropriation acts.
#### Similar Provisions
Similar provisions were contained in Aug. 31, 1951, ch. 376, title IV, § 401, 65 Stat. 287.
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Stable record: federal_law:legal_authorities:record_usc_ab51791039cc0153f9bf4ce2 Source file: Laws/federal/codes/united-states-code/title-12/section-1707-omitted--8d51b737e5.md Pages: Not recorded – Not recorded Passage SHA-256: 4f9d44b49bd5008c6b230aaf48a9d504ad397494a48052df63b09fb3df827452 Retained source evidence SHA-256: 5b43446f214ac99f318da456aa9b2493a6f21b1b459dc7edae639f1045fbda65
Source location: Title 12, Chapter 13, § 1707; chapter-013-national-housing.md
Stored source content
### Statutory Notes
#### Codification
Section, which placed restrictions on loans, was from the Independent Offices Appropriation Act, 1953, act July 5, 1952, ch. 578, title III, § 301, 66 Stat. 415, and was not repeated in subsequent appropriation acts.
#### Similar Provisions
Similar provisions were contained in Aug. 31, 1951, ch. 376, title IV, § 401, 65 Stat. 287.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Federal law — U.S. Code and appendices · legal_authorities
§ 1707. Definitions
As used in section 1709 of this title—
(a) 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 pe-
riod 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-fam-
ily unit in a multifamily project, including a
project in which the dwelling units are attached,
or are manufactured housing units, semi-de-
tached, or detached, and an undivided interest
in the common areas and facilities which serve
the project; and the term ‘‘first mortgage’’
means such classes of first liens as are com-
monly given to secure advances on, or the un-
paid purchase price of, real estate, under the
laws of the State, in which the real estate is lo-
cated, together with the credit instruments, if
any, secured thereby.
(b) The term ‘‘mortgagee’’ includes the origi-
nal lender under a mortgage, and his successors
and assigns approved by the Secretary; and the
term ‘‘mortgagor’’ includes the original bor-
rower under a mortgage and his successors and
assigns.
(c) 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.
(d) The term ‘‘State’’ includes the several
States, and Puerto Rico, the District of Colum-
bia, Guam, the Commonwealth of the Northern
Mariana Islands, American Samoa, and the Vir-
gin Islands.
(e) The term ‘‘family member’’ means, with re-
spect to a mortgagor un