### Question
How does the law define mortgage?


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

> a first mortgage on real estate in fee simple, or on the interest of either the lessor or lessee thereof (A) under a lease for not less than ninety-nine years which is renewable, or (B) under a lease having a period of not less than fifty years to run from the date the mortgage was executed

#### Citation:
  - *12 U.S.C. § 1715w*
  - Heading: **CHAPTER 12-SAVINGS ASSOCIATIONS > SUBCHAPTER II-MORTGAGE INSURANCE**

