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.
4502) are used in accordance with their statutory meaning unless otherwise defined in paragraph (b) of this section.
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