- affordable for very-low income households
means that rents charged to tenants for units made available for occupancy by low-income families shall not exceed 30 percent of the adjusted income of a family whose income equals 50 percent of the income for the area (as determined by the Secretary of Housing and Urban Development) with adjustment for family size.
- Agency
means the Federal Housing Finance Agency, established under section 4511 of this title.
- Bank
means a bank established under the authority of this chapter.
- Commission
means the Securities and Exchange Commission;
- community financial institution
means a member—
- community-oriented mortgage lending
means providing loans—
- corporation concerned
means—
- covered property
means any property—
- custodian fee
means—
- Director
means the Director of the Federal Housing Finance Agency.
- Directorate
means the directorate established in the manner provided in subsection (b)(1) to manage the Financing Corporation.
- Federal Home Loan Bank System
means the Federal Home Loan Banks under the supervision of the Director.
- Funding Corporation
means the Resolution Funding Corporation established in subsection (b).
- Funding Corporation Principal Fund
means the separate account established under subsection (g)(2).
- governmental agency
means any agency or entity of the Federal Government or a State or local government.
- home mortgage
means a mortgage upon real estate, in fee simple, or on a leasehold (1) under a lease for not less than ninety-nine years which is renewable or (2) under a lease having a period of not less than fifty years to run from the date the mortgage was executed, upon which is located, or which comprises or includes, one or more homes or other dwelling units, all of which may be defined by the Director and shall include, in addition to first mortgages, such classes of first liens as are commonly given to secure advances on real estate by institutions authorized under this chapter to become members, under the laws of the State in which the real estate is located, together with the credit instruments, if any, secured thereby.
- home mortgage loan
means a loan made by a member upon the security of a home mortgage.
- insured depository institution
has the same meaning as in section 1813 of this title 5
- low- or moderate-income household
means any household which has an income of 80 percent or less of the area median.
- low- or moderate-income neighborhood
means any neighborhood in which 51 percent or more of the households are low- or moderate-income households.
- member
means any institution which has subscribed for the stock of a Federal Home Loan Bank.
- mortgage-related assets
means— which are located within the jurisdiction of the applicable State housing finance authority or within the geographical area served by the nonprofit entity.
- net earnings
means net earnings without reduction for any chargeoffs or expenses incurred by a Bank in connection with the purchase of capital stock of the Financing Corporation or the purchase of stock of the Funding Corporation required by the Thrift Depositor Protection Oversight Board under subsections (e) and (f) of section 1441b of this title.
- net income
means income after deduction of all associated expenses calculated in accordance with generally accepted accounting principles.
- nonprofit entity
means any not-for-profit corporation chartered under State law that is exempt from Federal taxation under section 501(c) of title 26 and no part of the net earnings of which inures to the benefit of any member, founder, contributor, or individual (including any nonprofit entity established by the corporation established under title IX of the Housing and Urban Development Act of 1968 [42 U.S.C. 3931 et seq.]).
- savings association
has the meaning given to such term in section 3 of the Federal Deposit Insurance Act [12 U.S.C. 1813].
- Secretary
means the Secretary of the Treasury.
- securities laws
has the same meaning as in section 78c(a)(47) of title 15.
- State housing finance authority
means any public agency, authority, or corporation which—
- Thrift Depositor Protection Oversight Board
means—
- total number of elective directorships
means the total number of elective directorships on the board of directors of the bank of the district in which such State was located on December 31, 1960, and the term “members” where used for the second time in such sentence means members of such bank.
- undeveloped
means—
- undivided profits
means earnings retained after dividends have been paid minus the sum of—
- very low-income household
means any household that has an income of 50 percent or less of the area median.