TITLE 24 - HOUSING AND URBAN DEVELOPMENT

SUBTITLE B - REGULATIONS RELATING TO HOUSING AND URBAN DEVELOPMENT

CHAPTER II - OFFICE OF ASSISTANT SECRETARY FOR HOUSING - FEDERAL HOUSING COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

SUBCHAPTER B - MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES

PART 241 - SUPPLEMENTARY FINANCING FOR INSURED PROJECT MORTGAGES

subpart c - ELIGIBILITY REQUIREMENTS - SUPPLEMENTAL LOANS TO FINANCE PURCHASE AND INSTALLATION OF ENERGY CONSERVING IMPROVEMENTS, SOLAR ENERGY SYSTEMS, AND INDIVIDUAL UTILITY METERS IN MULTIFAMILY PROJECTS WITHOUT A HUD - INSURED OR HUD - HELD MORTGAGE

241.500 - Definitions.

In addition to the definitions contained in subpart A of this part, incorporated herein by reference, except 241.1(f), (h) and (i), the following terms, as used in 241.500 et seq., shall have the meaning indicated: (a) Approved lender means a financial institution or other mortgagee approved by the Commissioner as eligible for insurance under section 2 of the National Housing Act, or a mortgagee approved under section 203(b)(1) of the National Housing Act, or a state housing agency approved pursuant to 24 CFR 883.102.

  (b) Borrower means the owner of a project held in fee simple or of a leasehold interest which is not now covered by a mortgage insured or held by the Secretary.

  (c) Energy saving loan means any form of secured obligation used in connection with the purchase and installation of energy conserving improvements.

  (d) Multifamily project means a project which consists of not less than five dwelling units on one site, each such unit providing complete living facilities including provisions for cooking, eating, and sanitation within the unit and which is not now covered by a mortgage insured or held by the Secretary.