# § 3802. Definitions
As used in this chapter—
**(1)** the term “alternative mortgage transaction” means a loan or credit sale secured by an interest in residential real property, a dwelling, all stock allocated to a dwelling unit in a residential cooperative housing corporation, or a residential manufactured home (as that term is defined in section 5402(6) of title 42), in which the interest rate or finance charge may be adjusted or renegotiated, described and defined by applicable regulation; and
**(2)** the term “housing creditor” means—
A person is not a “housing creditor” with respect to a specific alternative mortgage transaction if, except for this chapter, in order to enter into that transaction, the person would be required to comply with licensing requirements imposed under State law, unless such person is licensed under applicable State law and such person remains, or becomes, subject to the applicable regulatory requirements and enforcement mechanisms provided by State law.
**(A)** a depository institution, as defined in section 501(a)(2) of the Depository Institutions Deregulation and Monetary Control Act of 1980;
**(B)** a lender approved by the Secretary of Housing and Urban Development for participation in any mortgage insurance program under the National Housing Act [12 U.S.C. 1701 et seq.];
**(C)** any person who regularly makes loans, credit sales, or advances secured by interests in properties referred to in paragraph (1); or
**(D)** any transferee of any of them.
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**Source Credit**: (Pub. L. 97–320, title VIII, § 803, Oct. 15, 1982, 96 Stat. 1545; Pub. L. 111–203, title X, § 1083(a)(1), July 21, 2010, 124 Stat. 2080.)
## Editorial Notes
### References in Text
Section 501(a)(2) of the Depository Institutions Deregulation and Monetary Control Act of 1980, referred to in par. (2)(A), is , title V, , , which is set out as a note under .
The National Housing Act, referred to in par. (2)(B), is , , which is classified principally to chapter 13 (§ 1701 et seq.) of this title. For complete classification of this Act to the Code, see and Tables.
### Amendments
2010—Par. (1). substituted “), in which the interest rate or finance charge may be adjusted or renegotiated, described and defined by applicable regulation; and” for “)—
“(A) in which the interest rate or finance charge may be adjusted or renegotiated;
“(B) involving a fixed-rate, but which implicitly permits rate adjustments by having the debt mature at the end of an interval shorter than the term of the amortization schedule; or
“(C) involving any similar type of rate, method of determining return, term, repayment, or other variation not common to traditional fixed-rate, fixed-term transactions, including without limitation, transactions that involve the sharing of equity or appreciation;
described and defined by applicable regulation; and”.
## Statutory Notes and Related Subsidiaries
### Effective Date of 2010 Amendment
> “This section [amending this section and
>
> and enacting provisions set out as a note under this section] and the amendments made by this section shall become effective on the designated transfer date.”
, , , provided that:
[For definition of “designated transfer date”, see .]
### Effective Date
Section effective , see , set out as a note under .
### Construction of 2010 Amendment
> “The amendments made by subsection (a) [amending this section and
>
> ] shall not affect any transaction covered by the Alternative Mortgage Transaction Parity Act of l982 (
>
> et seq.) and entered into on or before the designated transfer date.”
, , , provided that:
[For definition of “designated transfer date”, see .]