(B)The term “first mortgage” means a single first lien given 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, together with the credit instrument, if any, secured thereby. Any other financing permitted on property insured under this section must be expressly subordinate to the insured mortgage. (C)The terms “unit of general local government” and “State” have the same meanings as in.


12 USC § 1715z-22(c)(10)(B)

Scoping language

None: Default is title Scope
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