Mortgage

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. In any instance where an operating loss loan is involved, the term shall include both the original mortgage and the instrument securing the operating loss loan.

Source

24 CFR § 213.252

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Scoping language

The definitions contained in 213.1 shall apply to this subpart and in addition the following terms shall have the meaning indicated.

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