24 CFR § 202.2 - Definitions.

---
identifier: "/us/cfr/t24/s202.2"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "24 CFR § 202.2 - Definitions."
title_number: 24
title_name: "Housing and Urban Development"
section_number: "202.2"
section_name: "Definitions."
chapter_name: "OFFICE OF ASSISTANT SECRETARY FOR HOUSING—FEDERAL HOUSING COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT"
subchapter_number: "B"
subchapter_name: "MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES"
part_number: "202"
part_name: "APPROVAL OF LENDING INSTITUTIONS AND MORTGAGEES"
positive_law: false
currency: "2026-03-24"
last_updated: "2026-03-24"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 1703, 1709 and 1715b; 42 U.S.C. 3535(d)."
regulatory_source: "62 FR 20082, Apr. 24, 1997, unless otherwise noted."
cfr_part: "202"
---


# 202.2 Definitions.

*Act* means the National Housing Act (12 U.S.C. 1702 *et seq.*).

*Claim* means a single family insured mortgage for which the Secretary pays an insurance claim within 24 months after the mortgage is insured.

*Default* means a single family insured mortgage in default for 90 or more days within 24 months after the mortgage is insured.

*Lender* or *Title I lender* means a financial institution that:

(a) Holds a valid Title I Contract of Insurance and is approved by the Secretary under this part as a supervised lender under § 202.6, a nonsupervised lender under § 202.7, an investing lender under § 202.9, or a governmental or similar institution under § 202.10; or

(b) Is under suspension or held a Title I contract that has been terminated but remains responsible for servicing or selling Title I loans that it holds and is authorized to file insurance claims on such loans.

*Loan* or *Title I loan* means a loan authorized for insurance under Title I of the Act.

*Mortgage, Title II mortgage or insured mortgage* means a mortgage or loan insured under Title II or Title XI of the Act.

*Mortgagee* or *Title II mortgagee* means a mortgage lender that is approved to participate in the Title II programs as a supervised mortgagee under § 202.6, a nonsupervised mortgagee under § 202.7, an investing mortgagee under § 202.9, or a governmental or similar institution under 202.10.

*Multifamily mortgagee* means a mortgagee approved to participate only in multifamily Title II programs, except that for purposes of § 202.8(b)(1) the term also means a mortgagee approved to participate in both single family and multifamily Title II programs.

*Normal rate* means the rate of defaults and claims on insured mortgages for the geographic area served by a HUD field office, or other area designated by the Secretary, in which a mortgagee originates mortgages.

*Origination approval agreement* means the Secretary's agreement that a mortgagee is approved to originate single family insured mortgages.

*Title I program(s)* means an insurance program or programs authorized by Title I of the Act.

*Title II program(s)* means an insurance program or programs authorized by Title II or Title XI of the Act.

[62 FR 20082, Apr. 24, 1997, as amended at 62 FR 65181, Dec. 10, 1997; 75 FR 20731, Apr. 20, 2010]