DEFINITIONS.

SEC. 544. DEFINITIONS.For purposes of this subtitle: 106 STAT. 3802 (1) The term “multifamily housing” means a property consisting of more than 4 dwelling units. (2) The term “qualified housing finance agency” means any State or local housing finance agency that— (A) carries the designation of “top tier” or its equivalent, as evaluated by Standard and Poors or any other nationally recognized rating agency; (B) receives a rating of “A” for its general obligation bonds from a nationally recognized rating agency; or (C) otherwise demonstrates its capacity as a sound and experienced agency based on, but not limited to, its experience in financing multifamily housing, fund balances, administrative capabilities, investment policy, internal controls and financial management, portfolio quality, and State or local support. (3) The term “reinsurance agreement” means a contractual obligation under which the Secretary, in exchange for appropriate compensation, agrees to assume a specified portion of the risk of loss that a lender or other party has previously assumed with respect to a mortgage on a multifamily housing property. (4) The term “Secretary” means the Secretary of Housing and Urban Development.