PUBLIC LAW 102-550—OCT. 28, 1992 106 STAT. 3943

(5) DIRECTOR.—The term "Director" means the Director
of the Office of Federal Housing Enterprise Oversight of the
Department of Housing and Urban Development.

(6) ENTERPRISE.—The term "enterprise" means—

(A) the Federal National Mortgage Association and
any affiliate thereof; and

(B) the Federal Home Loan Mortgage Corporation and
any affiliate thereof.

(7) EXECUTIVE OFFICER.—The term "executive officer"
means, with respect to an enterprise, the chairman of the
board of directors, chief executive officer, chief financial officer,
president, vice chairman, any executive vice president, and
any senior vice president in charge of a principal business
unit, division, or function.

(8) LOW-INCOME.—The term "low-income" means-—

(A) in the case of owner-occupied units, income not
in excess of 80 percent of area median income; and

(B) in the case of rental units, income not in excess
of 80 percent of area median income, with adjustments
for smaller and larger families, as determined by the
Secretary.

(9) MEDIAN INCOME.—The term "median income" means,
with respect to an area, the unadjusted median family income
for the area, as determined and published annually by the
Secretary.

(10) MODERATE-INCOME.—The term "moderate-income"
means—

(A) in the case of owner-occupied units, income not
in excess of area median income; and

(B) in the case of rental units, income not in excess
of area median income, with adjustments for smaller and
larger families, as determined by the Secretary.

(11) MORTGAGE PURCHASES.—The term "mortgage pur-
chases" includes mortgages purchased for portfolio or
securitization.

(12) MULTIFAMILY HOUSING.—The term "multifamily hous-
ing" means a residence consisting of more than 4 dwelling
units.

(13) NEW PROGRAM.—The term "new program" means any
program for the purchasing, servicing, selling, lending on the
security of, or otherwise dealing in, conventional mortgages
that—

(A) is significantly different from programs that have
been approved under this Act or that were approved or
engaged in by an enterprise before the date of the enact-
ment of this Act; or

(B) represents an expansion, in terms of the dollar
volume or number of mortgages or securities involved, of
programs above limits expressly contained in any prior
approval.

(14) OFFICE.—The term "Office" means the Office of Federal
Housing Enterprise Oversight of the Department of Housing
and Urban Development.

(15) SECRETARY.—The term "Secretary" means the Sec-
retary of Housing and Urban Development.

(16) SINGLE FAMILY HOUSING.—The term "single family
housing" means a residence consisting of 1 to 4 dwelling units.