Terms Used In CFR > Title 24 > Subtitle B > Chapter II > Subchapter B > Part 207 > Subpart B > Amendments
Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
Commissioner: means the Federal Housing Commissioner. See 24 CFR 207.251
Contract: A legal written agreement that becomes binding when signed.
Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
mortgage: means such a first lien upon real estate and other property as is commonly given to secure advances on, or the unpaid purchase price of, real estate under the laws of the State, district or territory in which the real estate is located, together with the credit instrument or instruments, if any, secured thereby. See 24 CFR 207.251
Mortgagee: The person to whom property is mortgaged and who has loaned the money.
mortgagee: means the original lender under a mortgage its successors and such of its assigns as are approved by the Commissioner, and includes the holders of the credit instruments issued under a trust indenture, mortgage or deed of trust pursuant to which such holders act by and through a trustee therein named. See 24 CFR 207.251