### Question
How is the term mortgage defined?


### Answer
The term **mortgage** is defined in *12 U.S.C. § 1715z* as the following:

> 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**

