---
kind: "section"
citation: "12 U.S.C. § 1441a–1"
title: "12"
title_heading: "Banks and Banking"
number: "1441a–1"
heading: "Definitions"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/1441a-1"
units:
  - "Chapter 11 — Federal Home Loan Banks"
---

# §1441a–1. Definitions


For purposes of [section 1441a–2 of this title](/usc/12/1441a–2.md):

- (1) **State housing finance authority—** The term “State housing finance authority” means any public [agency](/usc/12/1422.md?p=12), authority, or corporation which—
  - (A) serves as an instrumentality of any [State](/usc/12/1422.md?p=2) or any political subdivision of any [State](/usc/12/1422.md?p=2); and
  - (B) functions as a source of residential [mortgage](/usc/12/1707.md?p=a) loan financing in that [State](/usc/12/1422.md?p=2).
- (2) **Nonprofit entity—** The term “nonprofit entity” means any not-for-profit corporation chartered under [State](/usc/12/1422.md?p=2) law that is exempt from Federal taxation under [section 501(c) of title 26](/usc/26/501.md?p=c) and no part of the net earnings of which inures to the benefit of any [member](/usc/12/1422.md?p=3), founder, contributor, or individual (including any nonprofit entity established by the corporation established under title IX of the Housing and Urban Development Act of 1968 [[42 U.S.C. 3931](/usc/42/3931.md) et seq.]).
- (3) **Mortgage-related assets—** The term “mortgage-related assets” means—
  - (A) residential [mortgage](/usc/12/1707.md?p=a) loans secured by 1- to 4-family or multifamily dwellings; and
  - (B) real property improved with 1- to 4-family or multifamily residential dwellings,

  which are located within the jurisdiction of the applicable [State housing finance authority](#1) or within the geographical area served by the [nonprofit entity](#2).

- (4) **Net income—** The term “net income” means income after deduction of all associated expenses calculated in accordance with generally accepted accounting principles.

## Source credit

(Pub. L. 101–73, title XIII, § 1301, Aug. 9, 1989, 103 Stat. 547.)

## Notes

### Editorial Notes

### References in Text

The Housing and Urban Development Act of 1968, referred to in par. (2), is Pub. L. 90–448, Aug. 1, 1968, 82 Stat. 476. Title IX of the Housing and Urban Development Act of 1968 is classified principally to chapter 49 (§ 3931 et seq.) of Title 42, The Public Health and Welfare. For complete classification of this Act to the Code, see Short Title of 1968 Amendment note set out under section 1701 of this title and Tables.

### Codification

Section was enacted as part of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, and not as part of the Federal Home Loan Bank Act which comprises this chapter.