### Question
How is the "mortgage" defined?


### Answer
The term **mortgage** is defined in *12 U.S.C. § 1707* as follows -

> a first mortgage on real estate, in fee simple, or on a leasehold (1) under a lease for not less than ninety-nine years which is renewable or (2) under a lease having a period of not less than ten years to run beyond the maturity date of the mortgage

#### Citation:
  - *12 U.S.C. § 1707*
  - Heading: **CHAPTER 12-SAVINGS ASSOCIATIONS > SUBCHAPTER II-MORTGAGE INSURANCE**

