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12 U.S.C. § 2802 - U.S. Code - Unannotated Title 12. Banks and Banking § 2802. Definitions

Current as of January 01, 2024 | Updated by Findlaw Staff

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.

1 So in original. Probably should be “paragraph (5)”.
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Cite this article: FindLaw.com - 12 U.S.C. § 2802 - U.S. Code - Unannotated Title 12. Banks and Banking § 2802. Definitions - last updated January 01, 2024 | https://codes.findlaw.com/us/title-12-banks-and-banking/12-usc-sect-2802/

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