§ 2402. Definitions. As used in this title, the following words and\nterms shall have the following meanings unless the context shall\nindicate another or different meaning or intent:\n (1) "Agency". The state of New York mortgage agency, the corporate\ngovernmental agency created by section two thousand four hundred three\nof this title.\n * (2) "Bank". Any bank or trust company, savings bank, savings and\nloan association, industrial bank, credit union, national banking\nassociation, federal savings and loan association, federal savings bank\nor federal credit union which is located in the state. The term "bank"\nshall also include a New York state licensed mortgage banker, or a\ndomestic not-for-profit corporation whose public purposes include\ncombatting community deterioration and which is an exempt organization\nas defined in paragraph (e) of subdivision one of section five hundred\nninety of the banking law, or an entity exempt from licensing provisions\nin accordance with paragraph (a) of subdivision two of such section,\nwhich in any such case is approved as a mortgage lender by the Federal\nNational Mortgage Association or by the Federal Home Loan Mortgage\nCorporation, or domestic not-for-profit corporations that are certified\nby the United States department of treasury as community development\nfinancial institutions or licensed by the New York state department of\nfinancial services.\n * NB Effective until July 23, 2027\n * (2) "Bank". Any bank or trust company, savings bank, savings and\nloan association, industrial bank, credit union, national banking\nassociation, federal savings and loan association or federal credit\nunion which is located in the state.\n * NB Effective July 23, 2027\n (3) "Bonds" and "Notes". The bonds and notes respectively issued by\nthe agency pursuant to this title.\n (4) "Comptroller". The comptroller of the state.\n * (5) "Mortgage". A loan owed to a bank secured by a first lien on (i)\na fee simple or leasehold estate in real property, or (ii) any other\ninstrument which shall constitute or create a security interest in\ntangible personal property constituting modular or manufactured housing,\nlocated in the state and improved by a residential structure or, on\nwhich a residential structure for use as single-family modular or\nmanufactured housing purchased and sited on land shall be constructed\nusing the proceeds of such loan, whether or not insured or guaranteed by\nthe United States of America or any agency thereof. The term "mortgage"\nshall also include a loan owed to a bank secured by a second lien on (i)\na fee simple or leasehold estate in real property, or (ii) any other\ninstrument which shall constitute or create a security interest in\ntangible personal property constituting modular or manufactured housing,\nlocated in the state and improved by a residential structure or on which\na residential structure for use as single-family modular or manufactured\nhousing purchased and sited on land shall be constructed using the\nproceeds of the related loan described in paragraph (a) or (b) of this\nsubdivision, whether or not insured or guaranteed by the United States\nof America or any agency thereof, provided, however, that such second\nlien: (a) secures a loan purchased by the agency, and (b) is made at the\nsame time as a first lien securing a loan purchased by the agency\npursuant to its programs or by a government sponsored enterprise or is\nmade at the same time as a new housing loan purchased by the agency\npursuant to section twenty-four hundred five-c of this part. The term\n"mortgage" shall also include loans made by the agency and secured by a\nsecond lien on (i) a fee simple or leasehold estate in real property, or\n(ii) any other instrument which shall constitute or create a security\ninterest in tangible personal property constituting modular or\nmanufactured housing, located in the state and improved by a residential\nstructure or on which a residential s
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