### Question
How does the law define mortgage?


### Answer
Under *12 U.S.C. § 1715z*, **mortgage** is defined as:

> a first mortgage on real estate that is—


(i) owned in fee simple

#### Citation:
  - *12 U.S.C. § 1715z*
  - Heading: **CHAPTER 13-NATIONAL HOUSING > SUBCHAPTER II-MORTGAGE INSURANCE**

