§ 2601 Congressional findings and purpose
§ 2602 Definitions
§ 2603 Uniform settlement statement
§ 2604 Home buying information booklets
§ 2605 Servicing of mortgage loans and administration of escrow accounts
§ 2606 Exempted transactions
§ 2607 Prohibition against kickbacks and unearned fees
§ 2608 Title companies; liability of seller
§ 2609 Limitation on requirement of advance deposits in escrow accounts
§ 2610 Prohibition of fees for preparation of truth-in-lending, uniform settlement, and escrow account statements
§ 2614 Jurisdiction of courts; limitations
§ 2615 Contracts and liens; validity
§ 2616 State laws unaffected; inconsistent Federal and State provisions
§ 2617 Authority of Bureau

Terms Used In U.S. Code > Title 12 > Chapter 27

  • administrator: means the official designated by the Secretary of State pursuant to section 1104(b) of this title. See
  • advocates: includes , but is not limited to, advises, recommends, furthers by overt act, and admits belief in. See
  • Agency: means the Federal Housing Finance Agency, established under section 4511 of this title. See
  • agency: has the meaning given that term in section 551(1) of title 5. See
  • agricultural commodity: includes , in addition to other agricultural commodities, crude gum (oleoresin) from a living tree, and the following products as processed by the original producer of the crude gum (oleoresin) from which derived: Gum spirits of turpentine and gum rosin, as defined in section 92 of title 7. See
  • Bank: means a bank established under the authority of this chapter. See
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Board of Directors: means the Board of Directors of the Corporation. See
  • Chief judge: The judge who has primary responsibility for the administration of a court but also decides cases; chief judges are determined by seniority.
  • children: means individuals who have not attained the age of 18. See
  • clerk of court: means a clerk of a naturalization court. See
  • community financial institution: means a member--

    (i) the deposits of which are insured under the Federal Deposit Insurance Act [12 U. See

  • Community Reinvestment Act: The Act is intended to encourage depository institutions to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods. It was enacted by the Congress in 1977. Source: OCC
  • Congressional Record: The substantially verbatim account of daily proceedings in Congress. It is printed for each day Congress is in session. At the back of each daily issue is the "Daily Digest," which summarizes the day's floor and committee activities.
  • construction: includes construction and initial equipment of new buildings, and expansion, remodeling, and alteration of existing buildings and equipment therein, including architect's services, but excluding off-site improvements. See
  • consular officer: means any consular, diplomatic, or other officer or employee of the United States designated under regulations prescribed under authority contained in this chapter, for the purpose of issuing immigrant or nonimmigrant visas or, when used in subchapter III, for the purpose of adjudicating nationality. See
  • conventional mortgage: means a mortgage other than a mortgage as to which the Corporation has the benefit of any guaranty, insurance or other obligation by the United States or any of its agencies or instrumentalities. See
  • conviction: means , with respect to an alien, a formal judgment of guilt of the alien entered by a court or, if adjudication of guilt has been withheld, where--

    (i) a judge or jury has found the alien guilty or the alien has entered a plea of guilty or nolo contendere or has admitted sufficient facts to warrant a finding of guilt, and

    (ii) the judge has ordered some form of punishment, penalty, or restraint on the alien's liberty to be imposed. See

  • Corporation: means the Federal Home Loan Mortgage Corporation created by this chapter. See
  • Credit Score: A number, roughly between 300 and 800, that measures an individual's credit worthiness. The most well-known type of credit score is the FICO score. This score represents the answer from a mathematical formula that assigns numerical values to various pieces of information in your credit report. Source: OCC
  • Director: means the Director of the Federal Housing Finance Agency. See
  • Docket: A log containing brief entries of court proceedings.
  • employee: means any individual who is an officer, employee, partner, director, or proprietor of a person or entity, but does not include--

    (A) independent contractors. See

  • Extradition: The formal process of delivering an accused or convicted person from authorities in one state to authorities in another state.
  • extraordinary ability: means , for purposes of subsection (a)(15)(O)(i), in the case of the arts, distinction. See
  • facility: means a subsection (d) hospital (as defined in section 1886(d)(1)(B) of the Social Security Act (42 U. See
  • Federal Home Loan Bank System: means the Federal Home Loan Banks under the supervision of the Director. See
  • Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
  • Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. Source: OCC
  • Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. Source: Federal Reserve
  • Habeas corpus: A writ that is usually used to bring a prisoner before the court to determine the legality of his imprisonment. It may also be used to bring a person in custody before the court to give testimony, or to be prosecuted.
  • 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. See
  • immigrant visa: means an immigrant visa required by this chapter and properly issued by a consular officer at his office outside of the United States to an eligible immigrant under the provisions of this chapter. See
  • immigration judge: means an attorney whom the Attorney General appoints as an administrative judge within the Executive Office for Immigration Review, qualified to conduct specified classes of proceedings, including a hearing under section 1229a of this title. See
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
  • indoor facility: means a building that is enclosed. See
  • ineligible to citizenship: when used in reference to any individual, means, notwithstanding the provisions of any treaty relating to military service, an individual who is, or was at any time permanently debarred from becoming a citizen of the United States under section 3(a) of the Selective Training and Service Act of 1940, as amended (54 Stat. See
  • insured depository institution: means --

    (A) an insured depository institution (as defined in section 3 of the Federal Deposit Insurance Act [12 U. See

  • intended spouse: means any alien who meets the criteria set forth in section 1154(a)(1)(A)(iii)(II)(aa)(BB), 1154(a)(1)(B)(ii)(II)(aa)(BB), or 1229b(b)(2)(A)(i)(III) of this title. See
  • Inter vivos: Transfer of property from one living person to another living person.
  • Joint resolution: A legislative measure which requires the approval of both chambers.
  • Judgement: The official decision of a court finally determining the respective rights and claims of the parties to a suit.
  • law: includes any law of the United States or of any State (including any rule of law or of equity). See
  • member: means any institution which has subscribed for the stock of a Federal Home Loan Bank. See
  • migratory child: means a child or youth who made a qualifying move in the preceding 36 months--

    (A) as a migratory agricultural worker or a migratory fisher. See

  • Minority leader: See Floor Leaders
  • mortgage: includes such classes of liens as are commonly given or are legally effective to secure advances on, or the unpaid purchase price of, real estate under the laws of the State in which the real estate is located or a manufactured home that is personal property under the laws of the State in which the manufactured home is located together with the credit instruments, if any, secured thereby, and includes interests in mortgages. See
  • mortgage insurance program: includes , in the case of a residential mortgage secured by a manufactured home, any manufactured home lending program under title I of the National Housing Act [12 U. See
  • national of the United States: means (A) a citizen of the United States, or (B) a person who, though not a citizen of the United States, owes permanent allegiance to the United States. See
  • organization: means any corporation, partnership, association, business trust, or business entity. See
  • organization: means a person or entity other than an individual. See
  • outlying possessions of the United States: means American Samoa and Swains Island. See
  • passport: means any travel document issued by competent authority showing the bearer's origin, identity, and nationality if any, which is valid for the admission of the bearer into a foreign country. See
  • person: means any State or local subdivision thereof, agency of such State or subdivision, corporation, or partnership that owns or operates or otherwise controls and provides children's services or any individual who owns or operates or otherwise controls and provides such services. See
  • Plea agreement: An arrangement between the prosecutor, the defense attorney, and the defendant in which the defendant agrees to plead guilty in exchange for special considerations. Source:
  • prescribe: means to prescribe by regulations or otherwise. See
  • President pro tempore: A constitutionally recognized officer of the Senate who presides over the chamber in the absence of the Vice President. The President Pro Tempore (or, "president for a time") is elected by the Senate and is, by custom, the Senator of the majority party with the longest record of continuous service.
  • profession: shall include but not be limited to architects, engineers, lawyers, physicians, surgeons, and teachers in elementary or secondary schools, colleges, academies, or seminaries. See
  • professional athlete: means an individual who is employed as an athlete by--

    (aa) a team that is a member of an association of 6 or more professional sports teams whose total combined revenues exceed $10,000,000 per year, if the association governs the conduct of its members and regulates the contests and exhibitions in which its member teams regularly engage. See

  • property: includes any property, whether real, personal, mixed, or otherwise, including without limitation on the generality of the foregoing choses in action and mortgages, and includes any interest in any of the foregoing. See
  • qualifying move: means a move due to economic necessity--

    (A) from one residence to another residence. See

  • Ranking minority member: The highest ranking (and usually longest serving) minority member of a committee or subcommittee.
  • refugee: means (A) any person who is outside any country of such person's nationality or, in the case of a person having no nationality, is outside any country in which such person last habitually resided, and who is unable or unwilling to return to, and is unable or unwilling to avail himself or herself of the protection of, that country because of persecution or a well-founded fear of persecution on account of race, religion, nationality, membership in a particular social group, or political opinion, or (B) in such special circumstances as the President after appropriate consultation (as defined in section 1157(e) of this title) may specify, any person who is within the country of such person's nationality or, in the case of a person having no nationality, within the country in which such person is habitually residing, and who is persecuted or who has a well-founded fear of persecution on account of race, religion, nationality, membership in a particular social group, or political opinion. See
  • Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
  • representative: includes an officer, official, or spokesman of an organization, and any person who directs, counsels, commands, or induces an organization or its members to engage in terrorist activity. See
  • residential mortgage: is a lso deemed to include a secured loan or advance of credit the proceeds of which are intended to finance the rehabilitation, renovation, modernization, refurbishment, or improvement of properties as to which the Corporation may purchase a "residential mortgage" as defined under the first sentence of this subsection. See
  • Right of rescission: Right to cancel, within three business days, a contract that uses the home of a person as collateral, except in the case of a first mortgage loan. There is no fee to the borrower, who receives a full refund of all fees paid. The right of rescission is guaranteed by the Truth in Lending Act (TILA). Source: OCC
  • savings association: has the meaning given to such term in section 3 of the Federal Deposit Insurance Act [12 U. See
  • Secretary: means the Secretary of Health and Human Services. See
  • Secretary: means the Secretary of Education. See
  • security: has the meaning ascribed to it by section 77b of title 15. See
  • Service of process: The service of writs or summonses to the appropriate party.
  • special immigrant: means --

    (A) an immigrant, lawfully admitted for permanent residence, who is returning from a temporary visit abroad. See

  • State: means each of the several States of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the Virgin Islands, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Northern Mariana Islands, and any other territory or possession of the United States. See
  • State: means each of the several States, the District of Columbia, and any commonwealth, territory, or possession of the United States. See
  • State: means each of the several States, the District of Columbia, the Commonwealth of Puerto Rico, Guam, American Samoa, the Virgin Islands, and the Commonwealth of the Northern Mariana Islands. See
  • substantial: means , for purposes of paragraph (15)(E) with reference to trade or capital, such an amount of trade or capital as is established by the Secretary of State, after consultation with appropriate agencies of Government. See
  • Supplemental appropriation: Budget authority provided in an appropriations act in addition to regular or continuing appropriations already provided. Supplemental appropriations generally are made to cover emergencies, such as disaster relief, or other needs deemed too urgent to be postponed until the enactment of next year's regular appropriations act.
  • terrorist organization: means an organization--

    (I) designated under section 1189 of this title. See

  • totalitarian party: means an organization which advocates the establishment in the United States of a totalitarian dictatorship or totalitarianism. See
  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
  • Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on Source: OCC
  • Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
  • University: means Gallaudet University. See
  • unpaid principal: when used in respect of a loan secured by a home mortgage means the principal thereof less the sum of (1) payments made on such principal, and (2) in cases where shares or stock are pledged as security for the loan, the payments made on such shares or stock plus earnings or dividends apportioned or credited thereon. See
  • Usury: Charging an illegally high interest rate on a loan. Source: OCC
  • Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.
  • VAWA self-petitioner: means an alien, or a child of the alien, who qualifies for relief under--

    (A) clause (iii), (iv), or (vii) of section 1154(a)(1)(A) of this title. See

  • world communism: means a revolutionary movement, the purpose of which is to establish eventually a Communist totalitarian dictatorship in any or all the countries of the world through the medium of an internationally coordinated Communist political movement. See
  • Writ of certiorari: An order issued by the Supreme Court directing the lower court to transmit records for a case for which it will hear on appeal.