Page:United States Statutes at Large Volume 106 Part 5.djvu/305

 PUBLIC LAW 102-550—OCT. 28, 1992 106 STAT. 3943 (5) DIRECTOR.— The term "Director" means the Director of the Office of Federal Housing Enterprise Oversight of the Department of Housingand Urban Development. (6) ENTERPRISE.— The term "enterprise" means— (A) the Federal National Mortage Association and any affiliate thereof; and (B) the Federal Home Loan Mortgage Corporation and any affiliate thereof. (7) EXECUTIVE OFFICER. — The term "executive officer" means, with respect to an enterprise, the chairman of the board of directors, chief executive officer, chief financial officer, president, vice chairman, any executive vice president, and any senior vice president in charge of a principal business unit, division, or function. (8) LOW-INCOME. —The term "low-income" means— (A) in the case of owner-occupied units, income not in excess of 80 percent of area median income; and (B) in the case of rental units, income not in excess of 80 percent of area median income, with acyustments for smaller and larger families, as determined by the Secretary. (9) MEDIAN INCOME. —The term "median income" means, with respect to an area, the unadjusted median family income for the area, as determined and published annually by the Secretary. (10) MODERATE-INCOME. —The term "moderate-income" means— (A) in the case of owner-occupied units, income not in excess of area median income; and (B) in the case of rental units, income not in excess of area median income, with adjustments for smaller and larger families, as determined by the Secretary. (11) MORTGAGE PiJRCHASES.The term "mortgage purchases" includes mortgages purchased for portfolio or securitization. (12) MULTIFAMILY HOUSING. — The term "multifamily housing" means a residence consisting of more than 4 dwelling units. (13) NEW PROGRAM. —The term "new program" means any program for the purchasing, servicing, selling, lending on the security of, or otherwise dealing in, conventional mortgages that— (A) is significantly different from programs that have been approved under this Act or that were approved or engaged in by an enterprise before the date of the enactment of this Act; or (B) represents an expansion, in terms of the dollar voliune or number of mortgages or securities involved, of programs above limits expressly contained in any prior approval. (14) OFFICE.— The term "Office" means the Office of Federal Housing Enterprise Oversight of the Department of Housing and Urban Development. (15) SECRETARY.— The term "Secretary" means the Secretary of Housing and Urban Development. (16) SINGLE FAMILY HOUSING. —The term "single family housing" means a residence consisting of 1 to 4 dwelling units.

�