Contract rent is rent net of rental subsidies.Ĭonventional mortgage means a mortgage other than a mortgage as to which a GSE has the benefit of any guaranty, insurance or other obligation by the United States or any of its agencies or instrumentalities.ĭefinitive GSE Security means a GSE Security in engraved or printed form, or that is otherwise represented by a certificate.ĭwelling unit means a room or unified combination of rooms intended for use, in whole or in part, as a dwelling by one or more persons, and includes a dwelling unit in a single-family property, multifamily property, or other residential or mixed-use property.ĮCOA means the Equal Credit Opportunity Act ( 15 U.S.C. In determining contract rent, rent concessions shall not be considered, i.e., contract rent is not decreased by any rent concessions. 1451 et seq.).Ĭontract rent means the total rent that is, or is anticipated to be, specified in the rental contract as payable by the tenant to the owner for rental of a dwelling unit, including fees or charges for management and maintenance services and those utility charges that are included in the rental contract.
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1716 et seq.) or the Federal Home Loan Mortgage Corporation Act ( 12 U.S.C. Book-entry GSE Security also means the separate interest and principal components of a Book-entry GSE Security if such security has been designated by the GSE as eligible for division into such components and the components are maintained separately on the books of one or more Federal Reserve Banks.īook-entry System means the automated book-entry system operated by the Federal Reserve Banks acting as the fiscal agent for the GSEs, on which Book-entry GSE Securities are issued, recorded, transferred and maintained in book-entry form.Ĭentral city means the underserved areas located in any political subdivision designated as a central city by the Office of Management and Budget of the Executive Office of the President.Ĭharter Act means the Federal National Mortgage Association Charter Act ( 12 U.S.C. Typically, the periodic payments are level monthly payments that would fully amortize the mortgage over a stated term and the balloon payment is a single payment due after a specified period (but before the mortgage would fully amortize) and pays off or satisfies the outstanding balance of the mortgage.īook-entry GSE Security means a GSE Security issued or maintained in the Book-entry System. The periodic payments may cover some or all of the periodic principal or interest. As used in this part, the term -ĪHAR means the Annual Housing Activities Report that a GSE submits to the Secretary under sections 309(n) of the Fannie Mae Charter Act or 307(f) of the Freddie Mac Act.ĪHAR information means data or information contained in the AHAR.ĪHS means the American Housing Survey published by HUD and the Department of Commerce.īalloon mortgage means a mortgage providing for payments at regular intervals, with a final payment (“balloon payment”) that is at least 5 percent more than the periodic payments.
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4502) are used in accordance with their statutory meaning unless otherwise defined in paragraph (b) of this section.