- administrative expenses of the receiver
includes—
- affiliate
means any entity that controls, is controlled by, or is under common control with, an enterprise.
- Agency
means the Federal Housing Finance Agency established under section 4511 of this title.
- authorizing statutes
means—
- average fees
means the average contractual fee rate of single-family guaranty arrangements by an enterprise entered into during 2011, plus the recognition of any up-front cash payments over an estimated average life, expressed in terms of basis points.
- Board
means the Federal Housing Finance Oversight Board established under section 4513a of this title.
- business day
means any day other than any Saturday, Sunday, or any day on which either the New York Stock Exchange or the Federal Reserve Bank of New York is closed.
- capital distribution
means—
- commodity contract
means—
- compensation
means any payment of money or the provision of any other thing of current or potential value in connection with employment.
- conforming mortgage
means, with respect to an enterprise, a conventional mortgage having an original principal obligation that does not exceed the dollar amount limitation in effect at the time of such origination and applicable to such mortgage, under, as applicable—
- core capital
means, with respect to an enterprise, the sum of the following (as determined in accordance with generally accepted accounting principles): The core capital of an enterprise shall not include any amounts that the enterprise could be required to pay, at the option of investors, to retire capital instruments.
- default
means, with respect to a regulated entity, any adjudication or other official determination by any court of competent jurisdiction, or the Agency, pursuant to which a conservator, receiver, limited-life regulated entity, or legal custodian is appointed for a regulated entity.
- Director
means the Director of the Federal Housing Finance Agency.
- enterprise
means—
- entity-affiliated party
means—
- executive officer
means, with respect to an enterprise, the chairman of the board of directors, chief executive officer, chief financial officer, president, vice chairman, any executive vice president, and any senior vice president in charge of a principal business unit, division, or function.
- extremely low-income
means—
- extremely low-income renter household
means a household whose income is not in excess of 30 percent of the area median income, with adjustments for smaller and larger families, as determined by the Secretary.
- forward contract
means—
- golden parachute payment
means any payment (or any agreement to make any payment) in the nature of compensation by any regulated entity for the benefit of any affiliated party pursuant to an obligation of such regulated entity that—
- identifiable form
means any representation of information that permits the identity of a borrower to which the information relates to be reasonably inferred by either direct or indirect means.
- in danger of default
means a regulated entity with respect to which, in the opinion of the Agency—
- indemnification payment
means any payment (or any agreement to make any payment) by any regulated entity for the benefit of any person who is or was an affiliated party, to pay or reimburse such person for any liability or legal expense with regard to any administrative proceeding or civil action instituted by the Agency which results in a final order under which such person—
- liability or legal expense
means—
- limited-life regulated entity
means an entity established by the Agency under section 4617(i) of this title with respect to a Federal Home Loan Bank in default or in danger of default or with respect to an enterprise in default or in danger of default.
- low-income
means—
- low-income area
means a census tract or block numbering area in which the median income does not exceed 80 percent of the median income for the area in which such census tract or block numbering area is located, and, for the purposes of section 4562(a)(1)(B) of this title, shall include families having incomes not greater than 100 percent of the area median income who reside in minority census tracts and shall include families having incomes not greater than 100 percent of the area median income who reside in designated disaster areas.
- median income
means, with respect to an area, the unadjusted median family income for the area, as determined and published annually by the Director.
- minority census tract
means a census tract that has a minority population of at least 30 percent and a median family income of less than 100 percent of the area family median income.
- moderate-income
means—
- mortgage purchases
includes mortgages purchased for portfolio or securitization.
- multifamily housing
means a residence consisting of more than 4 dwelling units.
- Office of Finance
means the Office of Finance of the Federal Home Loan Bank System (or any successor thereto).
- payment
includes—
- qualified financial contract
means any securities contract, commodity contract, forward contract, repurchase agreement, swap agreement, and any similar agreement that the Agency determines by regulation, resolution, or order to be a qualified financial contract for purposes of this paragraph.
- recipient
means an individual or entity that receives assistance from a State or State designated entity from amounts made available to the State or State designated entity under this section.
- regulated entity
means—
- single family housing
means a residence consisting of 1 to 4 dwelling units.
- State
means the States of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the Commonwealth of the Northern Mariana Islands, Guam, the Virgin Islands, American Samoa, the Trust Territory of the Pacific Islands, and any other territory or possession of the United States.
- swap agreement
means—
- total assets
means, with respect to an enterprise, the sum of—
- total capital
means, with respect to an enterprise, the sum of the following:
- transfer
means every mode, direct or indirect, absolute or conditional, voluntary or involuntary, of disposing of or parting with property or with an interest in property, including retention of title as a security interest and foreclosure of the equity of redemption of the regulated entity.
- very low-income
means—
- very low-income family
has the meaning given such term in section 4502 of this title, except that such term includes any family that resides in a rural area that has an income that does not exceed the poverty line (as such term is defined in section 9902(2) of title 42, including any revision required by such section) applicable to a family of the size involved.
- very low-income renter households
means a household whose income is in excess of 30 percent but not greater than 50 percent of the area median income, with adjustments for smaller and larger families, as determined by the Secretary.
- violation
includes any action (alone or in combination with another or others) for or toward causing, bringing about, participating in, counseling, or aiding or abetting a violation.
- walkaway clause
means a provision in a qualified financial contract that, after calculation of a value of a party’s position or an amount due to or from 1 of the parties in accordance with its terms upon termination, liquidation, or acceleration of the qualified financial contract, either does not create a payment obligation of a party or extinguishes a payment obligation of a party in whole or in part solely because of the status of such party as a nondefaulting party.