Financial institution
Financial institution means:
(1) A bank, savings association, or credit union that:
(i) On the preceding December 31 had assets in excess of the asset threshold established and published annually by the Bureau for coverage by the act, based on the year-to-year change in the average of the Consumer Price Index for Urban Wage Earners and Clerical Workers, not seasonally adjusted, for each twelve month period ending in November, with rounding to the nearest million;
(ii) On the preceding December 31, had a home or branch office in an MSA;
(iii) In the preceding calendar year, originated at least one home purchase loan (excluding temporary financing such as a construction loan) or refinancing of a home purchase loan, secured by a first lien on a one- to four-family dwelling;
(iv) Meets one or more of the following three criteria:
(A) The institution is Federally insured or regulated;
(B) The mortgage loan referred to in paragraph (1)(iii) of this definition was insured, guaranteed, or supplemented by a Federal agency; or
(C) The mortgage loan referred to in paragraph (1)(iii) of this definition was intended by the institution for sale to Fannie Mae or Freddie Mac; and
(v) In each of the two preceding calendar years, originated at least 25 home purchase loans, including refinancings of home purchase loans, that are not excluded from this part pursuant to ยง 1003.4(d); and
(2) A for-profit mortgage-lending institution (other than a bank, savings association, or credit union) that:
(i) In the preceding calendar year, either:
(A) Originated home purchase loans, including refinancings of home purchase loans, that equaled at least 10 percent of its loan-origination volume, measured in dollars; or
(B) Originated home purchase loans, including refinancings of home purchase loans, that equaled at least $25 million; and
(ii) On the preceding December 31, had a home or branch office in an MSA; and
(iii) Either:
(A) On the preceding December 31, had total assets of more than $10 million, counting the assets of any parent corporation; or
(B) In the preceding calendar year, originated at least 100 home purchase loans, including refinancings of home purchase loans.