{"identifier":"/us/usc/t12/s1441a\u20131","title":12,"num":"\u00a7\u202f1441a\u20131.","heading":"Definitions","text":"\u00a7\u202f1441a\u20131.\nDefinitions\nFor purposes of\n(1)\nState housing finance authority\nThe term \u201cState housing finance authority\u201d means any public agency, authority, or corporation which\u2014\n(A) serves as an instrumentality of any State or any political subdivision of any State; and\n(B) functions as a source of residential mortgage loan financing in that State.\n(2)\nNonprofit entity\nThe term \u201cnonprofit entity\u201d means any not-for-profit corporation chartered under State law that is exempt from Federal taxation under\nsection 501(c) of title 26\n42 U.S.C. 3931\n(3)\nMortgage-related assets\nThe term \u201cmortgage-related assets\u201d means\u2014\n(A) residential mortgage loans secured by 1- to 4-family or multifamily dwellings; and\n(B) real property improved with 1- to 4-family or multifamily residential dwellings,\nwhich are located within the jurisdiction of the applicable State housing finance authority or within the geographical area served by the nonprofit entity.\n(4)\nNet income\nThe term \u201cnet income\u201d means income after deduction of all associated expenses calculated in accordance with generally accepted accounting principles.","url":"https://projectusc.org/usc/t12/s1441a\u20131.html","content":[{"t":"sec","id":"/us/usc/t12/s1441a\u20131","children":[{"t":"num","text":"\u00a7\u202f1441a\u20131."},{"t":"heading","text":"Definitions","tail":"\n"},{"t":"chapeau","text":"For purposes of ","children":[{"t":"ref","text":"section 1441a\u20132 of this title","href":"/us/usc/t12/s1441a\u20132","tail":":"}]},{"t":"para","id":"/us/usc/t12/s1441a\u20131/1","children":[{"t":"num","text":"(1)"},{"t":"heading","text":"State housing finance authority"},{"t":"chapeau","text":"The term \u201cState housing finance authority\u201d means any public agency, authority, or corporation which\u2014"},{"t":"subpara","id":"/us/usc/t12/s1441a\u20131/1/A","children":[{"t":"num","text":"(A)"},{"t":"content","text":" serves as an instrumentality of any State or any political subdivision of any State; and","tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t12/s1441a\u20131/1/B","children":[{"t":"num","text":"(B)"},{"t":"content","text":" functions as a source of residential mortgage loan financing in that State.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s1441a\u20131/2","children":[{"t":"num","text":"(2)"},{"t":"heading","text":"Nonprofit entity"},{"t":"content","children":[{"t":"p","text":"The term \u201cnonprofit entity\u201d means any not-for-profit corporation chartered under State law that is exempt from Federal taxation under ","children":[{"t":"ref","text":"section 501(c) of title 26","href":"/us/usc/t26/s501/c","tail":" and no part of the net earnings of which inures to the benefit of any member, founder, contributor, or individual (including any nonprofit entity established by the corporation established under title IX of the Housing and Urban Development Act of 1968 ["},{"t":"ref","text":"42 U.S.C. 3931","href":"/us/usc/t42/s3931","tail":" et seq.])."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s1441a\u20131/3","children":[{"t":"num","text":"(3)"},{"t":"heading","text":"Mortgage-related assets"},{"t":"chapeau","text":"The term \u201cmortgage-related assets\u201d means\u2014"},{"t":"subpara","id":"/us/usc/t12/s1441a\u20131/3/A","children":[{"t":"num","text":"(A)"},{"t":"content","text":" residential mortgage loans secured by 1- to 4-family or multifamily dwellings; and","tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t12/s1441a\u20131/3/B","children":[{"t":"num","text":"(B)"},{"t":"content","text":" real property improved with 1- to 4-family or multifamily residential dwellings,","tail":"\n"}],"tail":"\n\n"},{"t":"continuation","text":"which are located within the jurisdiction of the applicable State housing finance authority or within the geographical area served by the nonprofit entity.","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s1441a\u20131/4","children":[{"t":"num","text":"(4)"},{"t":"heading","text":"Net income"},{"t":"content","children":[{"t":"p","text":"The term \u201cnet income\u201d means income after deduction of all associated expenses calculated in accordance with generally accepted accounting principles.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"},{"t":"text","text":"\n"}]}]}