(1) “conventional loan” means a loan secured by a first mortgage on unencumbered real property or leasehold estate other than a loan guaranteed or insured by a federal agency;
Terms Used In Alaska Statutes 06.15.370
Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(2) “department” means the Department of Commerce, Community, and Economic Development;(3) “financial institution” means a thrift institution, a commercial bank, a trust company, or an insurance company;(4) “mutual bank” means a mutual savings bank chartered under this chapter;(5) “thrift institution” means a cooperative bank, a homestead association, a mutual savings and loan association, or a mutual bank.
