Common use of Single family mortgage Clause in Contracts

Single family mortgage. The term ‘‘single family mortgage’’ means a mortgage that covers property on which there is located a 1- to 4-family residence, and that— (A) is held by the Secretary pursuant to title I or title II of the National Housing Act [12 U.S.C. 1702 et seq., 1707 et seq.]; or (B) secures a loan obligated by the Sec- retary under section 1452b of title 42, as it existed before the repeal of that section by section 12839 of title 42 (except that a xxxx- xxxx securing such a loan that covers prop- erty containing nonresidential space and a 1- to 4-family dwelling shall not be subject to this chapter).