§ 2426. Definitions. As used in sections twenty-four hundred\ntwenty-five through twenty-four hundred twenty-nine inclusive.\n 1. "Financial institution". Any bank, trust company, national bank,\nsavings bank, state or federal savings and loan association, or state or\nfederal credit union, insurance company, pension fund or retirement\nsystem of any corporation, association, any other entity which is owned\nor controlled by any one or more of the above, provided the same is\nsupervised by or responsible to any agency of the federal government,\nthe state, any department thereof or the governing body of any city,\ntown or village of the state or any other entity approved by the agency\nor any one or more of the above when lawfully acting as a trustee or\notherwise in a fiduciary capacity. The term "financial institution"\nshall also include the New York state housing finance agency and the New\nYork state urban development corporation, the New York city housing\ndevelopment corporation, the New York city department of housing\npreservation and development and any person who is approved as a\nmortgage lender by the federal housing administration for purposes of\ninsurance issued by such administration or licensed by the state of New\nYork as a mortgage banker.\n 2. "Housing accommodation". Any existing building, structure, unit\nthereof or unimproved real property, which is used or occupied, or is\nintended to be used or occupied, wholly or partly, as the home or\nresidence of one or more persons.\n 3. "Other real property". Any existing building, structure or\nunimproved property which is used or occupied, or is intended to be used\nor occupied, primarily for the retail sale of goods or the rendering of\nservices.\n 4. "Mortgage insurance fund". The mortgage insurance fund established\npursuant to section twenty-four hundred twenty-nine-b of this article.\n 5. "Mortgage insurance fund requirement". For any category of loans or\ndevelopment corporation credit support as of any particular date of\ncomputation, an amount of money or cash equivalents equal to (a) the\naggregate of (i) such insured amounts of each category of loans and such\namount of development corporation credit support as the agency has\ndetermined to be due and payable as of such date pursuant to its\ncontracts to insure mortgages or provide development corporation credit\nsupport plus (ii) an amount equal to twenty per centum of the amounts of\neach category of loans insured under the agency's insurance contracts\nplus twenty per centum of the amounts to be insured under the agency's\ncommitments to insure less the amounts payable in each category of loans\npursuant to subparagraph (i) of this paragraph, provided, however, that\nif the board of directors of the agency shall have established a per\ncentum for a category of loans, or for one or more loans within such\ncategories, pursuant to subdivision seven of section twenty-four hundred\ntwenty-eight of this part, such per centum shall be substituted for\ntwenty per centum in this paragraph for such category or loan, and\nprovided further, that no such new per centum shall be lower than twenty\nper centum plus (iii) an amount equal to the respective amounts\nestablished by contract with respect to each reserve and financial\nsupport fund (which may be determined by reference to percentages of\namounts required or permitted to be on deposit in said funds and may be\ndifferent for each such fund) for which the agency has determined that\nthe development corporation credit support account established under\nsection twenty-four hundred twenty-nine-b of this part is or will be a\nsource or potential source of development corporation credit support,\nless the amounts payable with respect to development corporation credit\nsupport pursuant to subparagraph (i) of this paragraph less (b) the\naggregate of the amount of each reinsurance contract procured in\nconnection with agency obligations determined by the bo
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