US Code

Public Law 119-73 (01/23/2026)

12 U.S.C. § 1422

Definitions

As used in this chapter—
(1)
(A)

Bank .—

The term “Federal Home Loan Bank” or “Bank” means a bank established under the authority of this chapter.
(B)

Bank system .—

The term “Federal Home Loan Bank System” means the Federal Home Loan Banks under the supervision of the Director.
(2)

State .—

The term “State”, in addition to the States of the United States, includes the District of Columbia, Guam, Puerto Rico, the United States Virgin Islands, American Samoa, and the Commonwealth of the Northern Mariana Islands.
(3)
The term “member” means any institution which has subscribed for the stock of a Federal Home Loan Bank.
(4)
The term “home mortgage loan” means a loan made by a member upon the security of a home mortgage.
(5)
The term “home mortgage” means a mortgage upon real estate, in fee simple, or on a leasehold (1) under a lease for not less than ninety-nine years which is renewable or (2) under a lease having a period of not less than fifty years to run from the date the mortgage was executed, upon which is located, or which comprises or includes, one or more homes or other dwelling units, all of which may be defined by the Director and shall include, in addition to first mortgages, such classes of first liens as are commonly given to secure advances on real estate by institutions authorized under this chapter to become members, under the laws of the State in which the real estate is located, together with the credit instruments, if any, secured thereby.
(6)
The term “unpaid principal,” when used in respect of a loan secured by a home mortgage means the principal thereof less the sum of (1) payments made on such principal, and (2) in cases where shares or stock are pledged as security for the loan, the payments made on such shares or stock plus earnings or dividends apportioned or credited thereon.
(7)
An “amortized” or “installment” home mortgage loan shall, for the purposes of this chapter, be a home mortgage loan to be repaid or liquidated in not less than eight years by means of regular weekly, monthly, or quarterly payments made directly in reduction of the debt or upon stock or shares pledged as collateral for the repayment of such loan.
(8)

Savings association .—

12 U.S.C. 1813The term “savings association” has the meaning given to such term in section 3 of the Federal Deposit Insurance Act [].
(9)

Insured depository institution .—

The term “insured depository institution” means—
(A)
12 U.S.C. 1813 an insured depository institution (as defined in section 3 of the Federal Deposit Insurance Act []), and
(B)
1
1 See References in Text note below.
section 1752 of this title except as used in sections 1441a  and 1441b of this title, an insured credit union (as defined in ).
(10)

Community financial institution.—

(A)

In general .—

The term “community financial institution” means a member—
(i)
12 U.S.C. 1811 the deposits of which are insured under the Federal Deposit Insurance Act [ et seq.]; and
(ii)
that has, as of the date of the transaction at issue, less than $1,000,000,000 in average total assets, based on an average of total assets over the 3 years preceding that date.
(B)

Adjustments .—

The $1,000,000,000 limit referred to in subparagraph (A)(ii) shall be adjusted annually by the Director, based on the annual percentage increase, if any, in the Consumer Price Index for all urban consumers, as published by the Department of Labor.
(11)

Director .—

The term “Director” means the Director of the Federal Housing Finance Agency.
(12)

Agency .—

section 4511 of this titleThe term “Agency” means the Federal Housing Finance Agency, established under .

July 22, 1932, ch. 522, § 247 Stat. 725June 27, 1934, ch. 847, § 50748 Stat. 1264May 28, 1935, ch. 150, § 149 Stat. 293July 14, 1952, ch. 723, § 10(c)66 Stat. 604Pub. L. 86–70, § 9(a)73 Stat. 142Pub. L. 86–624, § 5(a)74 Stat. 411Pub. L. 87–779, § 2(a)76 Stat. 779Pub. L. 101–73, title VII103 Stat. 411Pub. L. 106–102, title VI, § 602113 Stat. 1450Pub. L. 110–289, div. A, title II122 Stat. 2785(, ; , ; , ; , ; , , ; , , ; , , ; , §§ 701(a), 710(b)(1), , , 418; , , ; , §§ 1203, 1204(8), (10), 1211(a), , , 2786, 2790.)

Editorial Notes

References in Text

Section 1441a of this titlePub. L. 111–203, title III, § 364(b)124 Stat. 1555, referred to in par. (9)(B), was repealed by , , .

act Sept. 21, 1950, ch. 967, § 264 Stat. 873section 1811 of this titleThe Federal Deposit Insurance Act, referred to in par. (10)(A)(i), is , , which is classified generally to chapter 16 (§ 1811 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under and Tables.

Amendments

Pub. L. 110–289, § 1203(1)section 1422a of this title2008—Par. (1). , (2), redesignated par. (2) as (1) and struck out former par. (1). Prior to amendment, text read as follows: “The terms ‘Finance Board’ and ‘Board’ mean the Federal Housing Finance Board established under .”

Pub. L. 110–289, § 1204(8)Par. (1)(B). , substituted “the Director” for “the Board”.

Pub. L. 110–289, § 1203(2)Pars. (2) to (4). , redesignated pars. (3) to (5) as (2) to (4), respectively. Former par. (2) redesignated (1).

Pub. L. 110–289, § 1204(8)Par. (5). , substituted “the Director” for “the Board”.

Pub. L. 110–289, § 1203(2), redesignated par. (6) as (5). Former par. (5) redesignated (4).

Pub. L. 110–289, § 1203(2)Pars. (6) to (9). , (3), redesignated pars. (7) to (9) and (12) as (6) to (9), respectively. Former par. (6) redesignated (5).

Pub. L. 110–289, § 1203(1)Par. (10). , (3), redesignated par. (13) as (10) and struck out former par. (10). Prior to amendment, text read as follows: “The term ‘Chairperson’ means the Chairperson of the Board.”

Pub. L. 110–289, § 1211(a)Par. (10)(A)(ii). , substituted “$1,000,000,000” for “$500,000,000”.

Pub. L. 110–289, § 1211(a)Par. (10)(B). , substituted “$1,000,000,000” for “$500,000,000”.

Pub. L. 110–289, § 1204(10), substituted “the Director” for “the Finance Board”.

Pub. L. 110–289, § 1203(1)Pars. (11) to (13). , (3), (4), added pars. (11) and (12), redesignated former pars. (12) and (13) as (9) and (10), respectively, and struck out former par. (11). Prior to amendment, text read as follows: “The term ‘Secretary’ means the Secretary of Housing and Urban Development.”

Pub. L. 106–102, § 602(1)1999—Par. (1). , substituted “terms ‘Finance Board’ and ‘Board’ mean” for “term ‘Board’ means”.

Pub. L. 106–102, § 602(2)Par. (3). , added par. (3) and struck out former par. (3) which read as follows: “The term ‘State’ includes the District of Columbia, Guam, Puerto Rico, and the Virgin Islands of the United States.”

Pub. L. 106–102, § 602(3)Par. (13). , added par. (13).

Pub. L. 101–73, § 701(a)(1)1989—Pars. (1), (2). , added pars. (1) and (2) and struck out former pars. (1) and (2) which defined “board” and “Federal Home Loan Bank”.

Pub. L. 101–73, § 701(a)(2)Par. (4). , which directed amendment of par. (4) by striking out “(except when used in reference to the member of the Board)” after “ ‘member’ ”, was executed by striking out “(except when used in reference to a member of the board)” as the probable intent of Congress.

Pub. L. 101–73, § 710(b)(1)Par. (5). , struck out “or a nonmember borrower” after “member”.

Pub. L. 101–73, § 701(a)(3)section 1426 of this titlePars. (9) to (12). , added pars. (9) to (12) and struck out former par. (9) which read as follows: “The term ‘nonmember borrower’ includes an institution authorized to secure advances from a Federal Home Loan Bank under the provisions of subsection (e) of .”

Pub. L. 87–7791962—Subsec. (6). substituted “upon which is located, or which comprises or includes, one or more homes or other dwelling units, all of which may be defined by the Board” for “upon which there is located a dwelling for not more than four families”.

Pub. L. 86–6241960—Subsec. (3). struck out reference to Territory of Hawaii.

Pub. L. 86–701959—Subsec. (3). substituted “Territory of Hawaii” for “Territories of Alaska and Hawaii”.

1952—Subsec. (3). Act , inserted “Guam,”.

1935—Subsec. (6). Act , substituted “four families” for “three families”.

1934—Subsec. (6). Act , struck out “first” before “mortgage” and inserted “or (2) under a lease having a period of not less than fifty years to run from the date the mortgage was executed”.